Data and analytics are increasingly becoming central to business decision-making. But even as organizations push to make their decision-making more data-driven, business leaders accustomed to making decisions based on gut-instincts and experience are having trouble trusting insights from data and analytics (D&A).
Forrester Consulting, commissioned by the Data and Analytics Global team at professional services firm KPMG, recently surveyed 2,165 data and analytics decision-makers from a range of industries in nine nations.
KPMG recommends organizations address seven key areas to close the trust gaps:
- Assess the trust gaps
- Create purpose by clarifying goals
- Raise awareness to increase internal engagement
- Develop an internal data and analytics culture
- Open up the ‘black box’ to encourage greater transparency
- Provide a 360-degree view by building ecosystems
- Stimulate innovation and analytics R&D to incubate new ideas and maintain a competitive stance