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1、The Great Data DivideHow to bridge the gap betweendata capabilities and strategic initiativesReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives12Table of Contents34567891113141618202426272329303233ForewordExecutive Summary:Prioritizing a Strong Data

2、 Foundation for InnovationKey FindingsThe Business Case for Data MaturityDecision-Making Still Needs More Accurate Data More Investment Needed for Immature Data StrategiesSpotlight 1:Build Purpose Into Data StrategyData Immaturity Undermines Informed DecisionsCould the C-Suite Be More Aware of the D

3、ata Problem?Spotlight 2:Bridging the Gap:Aligning Leadership and Operations for Data ProjectsBetter Executive Alignment Strengthens Data StrategyBetter Data Preparation Can Improve(Gen)Al RolloutsData Maturity Smooths AI InitiativesSpotlight 3:Laying Data Foundations for Gen AlOverhaul Strategy To S

4、ecure ROl With Data MaturityConclusionMethodological NotesStronger Data Strategies Underpin Benefit AwarenessAlignment of ROl and Data Strategy Drives(Gen)Al ProjectsData-Mature Companies Most Likely To Increase InvestmentRemove Impediments To Move Forward With Data InitiativesReportThe Great Data D

5、ivide:How to bridge the gap between data capabilities and strategic initiatives2Its been said that ambition is the path to success,but reality is the road you must travel.In our experience serving clients,we often find a disconnect between leaderships ambitions and the ability to deliver successful

6、outcomes due to technological realities on the operational side.Nowhere more acutely felt than in the proper leveraging of data.To understand the realities on the ground and be better able to serve our clients,we commissioned Wakefield Research to conduct a study of 750 business and IT leaders repre

7、senting companies with$1 billion or more in annual revenue to discover how this gap has evolved and how firms can overcome it.The study,which touched eight countries and eight industries,shows that this gap is no longer unusual and has become an endemic global phenomenon.Practically all companies ag

8、reed that they struggle to consistently tie their data initiatives to business goals.Most agreed they also regularly make decisions without a strong data foundation.On the other hand,those with more mature data strategies have seen stronger growth from new revenue streams and internal efficiencies.D

9、ig into the results to better understand how your organization matches up with peers and the wider market.You will find insights into the state of data readiness in enterprises today,what it can mean to you,and what you can do to build a sound data foundation for growth and innovation with this crit

10、ical asset.Synchronizing your data initiatives with your strategic objectives will enable you to target your investments with greater precision for more robust and reliable results.Finally,we will explore how you can rely on SoftServe for world-class support to become a data leader and execute those

11、 projects to deliver the success you deserve.ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives3Alex ChubayChief Technology Officer,SoftServeForewordThe link between strong data management and business success is becoming clearer.Our research shows

12、that businesses that prioritize effective data practices reap significant benefits,such as deploying new technologies more effectively,enhancing efficiency,and creating new revenue streams by monetizing their data assets.However,many companies continue to struggle with basic challenges like data org

13、anization and governance.A majority also continue to make business-critical decisions based on inaccurate or incomplete data.For many firms,it is time to do data differently.VPs and directors point to an often-limited understanding in the C-suite of the value that data initiatives bring as creating

14、a negative impact on how firms are prioritizing their investments.Many were also concerned about misplaced priorities.These often saw resources diverted towards initiatives like Gen AI.In addition,many jumped into AI initiatives without clear objectives and before essential preparatory work was unde

15、rtaken.They had not prepared the data raw material foundations essential for them to succeed.Most importantly,firms that had not developed the data maturity to properly harness these advanced technologies were more likely to embark on projects without business alignment.Executive Summary:Prioritizin

16、g a Strong Data Foundation for InnovationPosition for advantageTo take full advantage of potential innovations like AI,organizations must refine their data strategies and align them with identifiable business needs to ensure they are well-positioned to drive sustainable success.Our research shows th

17、at data-mature businesses are the best prepared and most inclined to take these steps.By aligning an understanding of the potential ROI of data initiatives,they will then be able to deliberately increase investments in data management with more confidence in the outcomes.Further,by expanding efforts

18、 to align with revenue-generating initiatives,they can pave the way for the critical role data strategies play in long-term growth and innovation.But,as the study shows,there remains a lack of clarity on which aspects of a data strategy should be prioritized.This will vary considerably from firm to

19、firm and emphasizes the benefits of external expert support from digital strategy advisors to make it happen.ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives4ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic

20、 initiatives5Key FindingsThe benefits of data maturity are clear.Most still struggle with data-driven decision-making.A lack of targeted data investment is blamed on leadership ignorance.Poor prioritization has misallocated data investment.Need to prioritize data strategy and business alignment.Data

21、-mature companies will lead data investment in 2025.44%opened new revenue streams and 38%were able to monetize their data as a result of having strong data management.58%saw strategic business decisions being made based on inaccurate or inconsistent data most of the time if not always.78%of VPs and

22、61%of directors but just 44%of those at C-level believe their organizations investment priorities are negatively impacted by leaders not fully understanding how data can generate value.73%of business tech leaders believe their company has allocated funds or talent to the latest Gen AI trends at the

23、expense of more valuable data and analytics initiatives.Nearly all 98%respondents believe a data-strategy update would be required before being able to gain the full advantages of initiatives like AI.Of all companies,companies with a fully mature data strategy show the highest percentage(42%)plannin

24、g to increase investment significantly in 2025.Furthermore,85%said they will increase it at least somewhat.44%58%78%73%98%85%ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives6Strong data management is not just a technical necessity;it is a key driv

25、er of revenue growth.Relative levels of data maturity,or proficiency,emphasize the need for alignment between business needs and data strategy.By deploying the correct infrastructure(cloud strategy,tools,and technologies)with adequate data management and governance(cataloging,quality assurance,linea

26、ge,and modeling),data-mature companies see strong improvements in revenue.conducted a survey for SoftServe of 750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenue,followed by a series of five in-depth interviews with global leaders to gain a

27、dditional insights on the survey findings.The results show robust,mature data management practices enabled 44%of business leaders to establish new revenue streams,while 38%successfully monetized their data assets transforming information into a vital source of income.Wakefield ResearchThe degree of

28、a companys data maturity can also have an indirect effect on revenue.Organizations report that strong data management led to substantial operational and strategic benefits,including enhanced efficiency and productivity(54%)and improved decision-making and forecasting capabilities(49%).If the upside

29、opportunities of harnessing data are clear,why have so many companies failed to do so?The Business Case for Data MaturityAn impactful data strategy is not about perfection,but prioritization.Its about gaining data maturity to unlock measurable business value,step by step,through practical prioritiza

30、tion and execution.AVP of Technology,SoftServeRodion MyronovResponses to:“In which of these ways has your organization benefited from having strong data management?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple respo

31、nses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Improving or enhancing our operational performance(efficiency,productivity,etc.)Enhancing our services or productsImproving customer serviceImproving decision-making and forecastingSupporting our marketing and salesOpening new r

32、evenue streamsMonetizing our dataENHANCED PRODUCTS/SERVICES,NEW REVENUE STREAMS OR MONETIZED DATAOPERATIONAL PERFORMANCE,CUSTOMER SERVICE,MARKETING/SALES,OR DECISION-MAKING54%87%97%52%51%49%48%44%38%In which of these ways has your organization benefitedfrom having strong data management?ReportThe Gr

33、eat Data Divide:How to bridge the gap between data capabilities and strategic initiatives7Despite clear benefits,our survey shows there remains a dearth of knowledge about how to guarantee data accuracy and completeness.This gap is real,as 58%saw strategic business decisions being made based on inac

34、curate or inconsistent data most,if not all the time.Decision-Making Still Needs More Accurate DataHow often does your organization make key business decisions based on inaccurate or inconsistent data?Responses to:“In which of these ways has your organization benefited from having strong data manage

35、ment?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Most of the timeAlwaysSometimesRarelyNever3%58%13%26%40%18%MOST OF THE TIME OR ALWAYSBy

36、 the time employees get access to the data they need,it takes about two days.Access should take no more than an hour for something critical.Energy CompanySenior Director of AnalyticsDecision-makers dont have the data they require when they need it.60%describe this as a challenge.60%Responses to:“In

37、which of these ways has your organization benefited from having strong data management?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024How m

38、uch of a challenge is it for decision-makers to get access to the data they need,when they need it?A huge challengeSomewhat of a challengeA bit of a challengeNot a challenge at allSOMEWHAT TO HUGE CHALLENGE 60%12%48%35%5%My organization needs to invest significantly more in data management to realiz

39、e its goals for data initiativesResponses to:“How much more does your organization need to invest in data management to realize its goals for data initiatives?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses

40、acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024The percentage of companies viewing significant data management investment as a requirement to meeting their goals for data initiatives decreases to 21%in organizations where questionable decision-making is a less-common occurrence.2

41、1%MOST OR ALL OF THE TIMESOMETIMES OR LESSAll Respondents39%51%21%My company makes decisions based on inaccurate or incomplete data.More Investment Needed for Immature Data StrategiesReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives8Build Purpose I

42、nto Data StrategyStrategically navigating data initiatives also demands careful consideration of organizational blockers.These could range from fragmented data in disjointed systems to a lack of expertise in bridging business needs and technical execution.A smart approach would be to address the big

43、gest hurdles that limit value realization,whether through implementing data catalogs,enabling data democratization,or restructuring teams for more efficient data governance.A truly impactful data strategy isnt about building an ideal framework its about unlocking measurable business value,step by st

44、ep,through practical prioritization and execution.If you want to learn more about how to prioritize your data projects to match the use cases most beneficial to your business,.download our white paperModern businesses strive to build the perfect data infrastructure that enables seamless enterprise-w

45、ide data utilization.But this approach often leads to wasted effort and capital as an ideal data platform without clear,value-driven applications and purpose risks becoming an underutilized asset.Successful data strategies prioritize use cases over data initiatives.Instead of creating expensive arch

46、itectures with an uncertain purpose,organizations should begin by asking,“What business problems are we solving with our data?”The identification of specific initiatives such as optimizing supply chain efficiency or personalizing customer experiences is essential to shape meaningful outcomes.The nex

47、t step is to evaluate the feasibility of those initiatives against their business value.Projects that deliver the highest return or unlock additional opportunities across departments should take priority.For instance,investing in a data lake can make sense if it supports multiple high-value cases.On

48、 the other hand,pursuing marginal improvements that require increasingly higher effort may not justify the cost.ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives10AVP of TechnologyRodion MyronovUnlock valueReportThe Great Data Divide:How to bridge

49、the gap between data capabilities and strategic initiatives11Problems of accessibility and weak data-driven decision-making are particularly pronounced for companies with immature data strategies.They face significant challenges when attempting to access valuable insight,enhance products,and build n

50、ew revenue streams.Companies requiring a complete overhaul of their data strategy struggle to access their data and make informed decisions with it.Data Immaturity Undermines Informed DecisionsThere was no single source of truth for identifying all our customers across different segments.No one coul

51、d answer that question definitively.Global Energy CompanySenior Director of Analytics and AIHow often does your organization make key business decisions based on inaccurate or inconsistent data?Responses to:“How often does your organization make key business decisions based on inaccurate or inconsis

52、tent data?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Most of the timeAlwaysMINOR UPDATES OR NO UPDATESCOMPLETE OVERHAULSometimesRarelyN

53、ever10%29%2%2%32%39%6%18%50%12%82%51%MOST OF THE TIME OR ALWAYSMOST OF THE TIME OR ALWAYSRequired data strategy updatesReliance on flawed data:50%of companies report that key business decisions are consistently based on inaccurate or incomplete data if they require a data strategy overhaul.This is a

54、 stark contrast to just 12%for companies requiring less extensive data strategy updates.50%ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives12Responses to:“In which of these ways has your organization benefited from having strong data management?”B

55、ase:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Challenges in data accessibility:33%of companies requiring an overhaul report having major cha

56、llenges enabling decision-makers to access critical data when needed.Comparatively,only 10%of companies needing major updates and 3%of those with no or minor updates face similar challenges.33%A lack of internal knowledge about the data is a challenge.Very few people understand where a specific piec

57、e of data is stored,which systems house it,and how they interact.Global Manufacturing CompanyCEOIn which of these ways has your organization benefited from having strong data management?Improving or enhancing our operational performance(efficiency,productivity,etc.)Supporting our marketing and sales

58、ENHANCED PRODUCTS/SERVICES,NEW REVENUE STREAMS OR MONETIZED DATA53%56%38%47%51%39%91%87%83%Limited outcomes from data strategies:Of organizations requiring data strategy overhauls,only 38%saw benefits such as enhanced services or products.Similarly,just 39%report improved support for marketing and s

59、ales.In comparison,91%of companies requiring minor or no updates were able to either enhance services,add new revenue streams,or monetize their data.38%Required data strategy updates:Responses to:“How much of a challenge is it for decision-makers to get access to the data they need,when they need it

60、?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Respondents reporting that decision-makers accessing the data they need,when they need it,i

61、s a huge challengeCOMPLETE OVERHAULMAJOR UPDATESMINOR UPDATES OR NO UPDATESCOMPLETE OVERHAULMAJOR UPDATESMINOR UPDATES OR NO UPDATES10%3%33%Required data strategy updates:ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives13In addition to differences

62、 in their ability to harness their data for business results,another notable gap between data-mature and immature companies is that those with stronger data strategies tend to understand their data better and have greater awareness of the benefits that data can bring.This suggests the degree of lead

63、erships awareness of datas potential ROI and the value of their data correlates to stronger data strategies.Stronger Data Strategies Underpin Benefit AwarenessIf no one takes a deliberate approach analyzing,refining,and following up on data the data asset loses its value because nothing is done with

64、 it.Healthcare CompanyChief Data OfficerPoor understanding of data organization:Of companies requiring a complete data overhaul,77%report that no one in their organization has a comprehensive understanding of the data collected or how to access it,compared to just 61%of companies requiring minor or

65、no updates.77%Leaders in my organization dont fully understand how to generate value from data,which negatively impacts their investment priorities.Leadership lacks understanding:If companies need a complete overhaul of their data,76%say their leadership does not fully grasp how to generate value fr

66、om data,which negatively impacts prioritization and investment in data initiatives.This is significantly higher than for companies needing major and/or minor or no updates to data strategy.Responses to:“How strongly do you agree or disagree with the following statement?Leaders in my organization don

67、t fully understand how to generate value from data,which negatively impacts their investment priorities.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,N

68、ovember 202476%Responses to:“How strongly do you agree or disagree with the following statement?No one at my organization has a full understanding of all the data we collect and how to access it.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in an

69、nual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024No one at my organization has a full understanding of all the data we collect and how to access it.COMPLETE OVERHAULMAJOR UPDATESMINOR UPDATES OR NO UPDATES64%61%77%Required data strategy updates:C

70、OMPLETE OVERHAULMAJOR UPDATESMINOR UPDATES OR NO UPDATES64%62%76%Required data strategy updates:ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives14How would you describe your organizations data strategy,using a scale of 1 to 5,where 1 means not at

71、all mature and 5 means fully mature?Responses to:“How would you describe your organizations data strategy,using a scale of 1 to 5,where 1 means not at all mature and 5 means fully mature?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual rev

72、enueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Could the C-Suite Be More Aware of the Data Problem?C-LEVELDIRECTOR OR MANAGING DIRECTORRequired data strategy updates:Survey results show that leadership is divided on the seriousness of the data problem.

73、A split appears between the evaluation of companies data maturity,with C-suite executives and VPs tending to be more sanguine,while directors are more concerned by their companies data immaturity.Another significant gap exists between C-suite executives and senior leaders like VPs when it comes to u

74、nderstanding and addressing data challenges.For example,68%of VPs report that key business decisions are often or always based on inaccurate or inconsistent data.However,the C-Suite appears less aware,with only 47%identifying this as a frequent issue.This disconnect highlights a potentially fundamen

75、tal issue where leadership at the highest level underestimates the true scope of their organizations data challenges.NOT FULLY MATURE77%90%5 Fully mature4321 Not at all mature48%37%41%55%8%7%2%0%1%1%No one at my organization has a full understanding of all the data we collect and how to access it.To

76、talC-LEVELVICE PRESIDENT OR SENIOR VP65%45%79%Responses to:“How strongly do you agree or disagree with the following statement?No one at my organization has a full understanding of all the data we collect and how to access it.”Base:750 leaders who oversee data management and AI use at global compani

77、es with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Percent agreeingAGREETop executives may lack visibility into the extent of data mismanagement.While 79%of VPs believe that no one in their company fully understands t

78、he entirety of the data they collect or how to effectively access it,only 45%of C-suite executives share this concern.79%Responses to:“How often does your organization make key business decisions based on inaccurate or inconsistent data?”Base:750 leaders who oversee data management and AI use at glo

79、bal companies with$1 billion or more in annual revenueSource:SoftServe AI Survey,Wakefield Research,November 2024How often does your organization make key business decisions based on inaccurate or inconsistent data?At least sometimes Most of the time or always 47%77%90%68%C-LEVELVICE PRESIDENT OR SE

80、NIOR VPPercent agreeingReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives15Bridging the Gap:Aligning Leadership and Operations for Data ProjectsReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives17Th

81、is digital lobby group will require an independent mandate,meaning that it must be outfitted with a budget to independently assess,fund,and pursue data projects.It will make decisions based on input from both business analysts and architects.Ideally,the head of the task force will be the ultimate ar

82、biter in selecting and pursuing projects based on informed reports from operations and a thorough understanding of business priorities.This will require a new structural enterprise function that will be critical to leveraging data more constructively for revenue-generating projects.Moreover,as the e

83、mphasis on data-driven decision-making increases,this advisory group will be necessary to ensure that leaders are not left with incomplete or inaccurate data and are empowered with better facts when making decisions.Do you want to learn more about why companies need to establish a digital agency to

84、remain competitive and how they can do it?Read our proposal to understand the full picture!The advent of data-driven technologies has created opportunities for enhanced efficiency and increased revenue across industries.Simultaneously,it has illuminated the need for a bridge over the gap in data und

85、erstanding between leadership and operations.As we have seen,leadership often lacks insight into the hurdles and potential benefits of data technology,while technology-focused employees often struggle to articulate the importance of data for their projects to a business-centric audience.Companies se

86、eking to build their competitiveness in data-driven markets must introduce a designated role,committee,or communications structure to bridge this gap.This approach can better evaluate data projects for alignment with top-level leadership priorities and technical feasibility.This committee or digital

87、 advantage lobby group should consist of a variety of business functions and expertise and,at a minimum,include:?Solution architects?Business analysts?Project managersVP of Solutions and Chief Technologist EMEA,SoftServeDmytro IvanovReportThe Great Data Divide:How to bridge the gap between data capa

88、bilities and strategic initiatives18The lack of alignment as to the root of the data decision-making problem plays out in how different levels of leadership perceive the core blockers to be for firms developing a stronger data strategy.Some 49%of directors said leadership setting a strategic directi

89、on without stakeholder input was an obstacle,but only 39%of the C-suite and 42%of VPs saw a problem.Simultaneously,among all levels surveyed,44%identified leadership failing to see the value of enhanced data strategies as a significant barrier.The lack of adequate guidance from leadership not only h

90、as deleterious effects on company budgets.It also reveals another split in management.Nearly two-thirds(65%),including 78%of VPs and 61%of directors but just 44%of those at the C-level,believe their organizations investment priorities are negatively impacted by leaders not fully understanding how to

91、 generate value from data.Better Executive AlignmentStrengthens Data StrategyWe always start with desirability do we have a need or a problem to solve?Next,we assess doability does it make sense,and can it be done?Finally,we evaluate ROI.This process is always done in collaboration with the business

92、.Global Insurance CompanyCIOTotalC-LEVELVICE PRESIDENT OR SENIOR VPDIRECTOR65%44%78%61%Leaders in my organization dont fully understand how to generate value from data,which negatively impacts their investment priorities.Responses to:“How strongly do you agree or disagree with the following statemen

93、t?Leaders in my organization dont fully understand how to generate value from data,which negatively impacts their investment priorities.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServ

94、e AI Survey,Wakefield Research,November 2024Percent agreeingLeaders in my organization dont fully understand how to generate value from data,which negatively impacts their investment priorities.Responses to:“How strongly do you agree or disagree with the following statement?Leaders in my organizatio

95、n dont fully understand how to generate value from data,which negatively impacts their investment priorities.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Resea

96、rch,November 2024MOST OR ALL OF THE TIMESOMETIMES OR LESS82%42%Percent agreeingReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives19Regarding data,we increasingly see a structural and informational gap between leadership and operations.Companies requ

97、ire an independent committee with budgetary independence to broach this fissure and pursue valuable data projects.VP of Solutions and Chief Technologist EMEA,SoftServeDmytro IvanovAlthough these responses suggest a disconnect and a need for leadership to adopt more inclusive and informed approaches

98、toward data strategy development,the disparity also suggests that top executives may lack visibility into the potential ROI that improved data strategies could generate and of the necessity to invest in data-related initiatives.82%of those at companies that make business decisions based on inaccurat

99、e or inconsistent data most or all the time agree with this statement,compared to 42%of those at companies that less frequently make these decisions based on inaccurate or incomplete data.Furthermore,of those who think their companys data strategy needs a complete overhaul,76%see this as a barrier t

100、o making the required investments.82%When asked if leaderships ignorance of datas ROI potential throttled investment,82%of those at companies that make business decisions based on inaccurate or inconsistent data most or all the time agree.That is compared to just 42%of those at companies that less f

101、requently make these decisions based on inaccurate or incomplete data.Furthermore,of those who think their companys data strategy needs a complete overhaul,76%see this as a barrier to making the required investments.ReportThe Great Data Divide:How to bridge the gap between data capabilities and stra

102、tegic initiatives20We started with skepticism about AI,so we cannot afford major setbacks or failures.Data cleanup is essential before we proceed further.Any failure now would affect future projects and undermine trust in AI.Global Manufacturing CompanyCIOThe explanations for Gen AI failures given s

103、uggest that a key hurdle lies in underdeveloped data strategies.Just 42%said they can train Gen AI models,and 89%struggle to prepare business data.A mere 24%had rolled out a governance policy,and 75%or more face challenges around Gen AI understanding,soft skills and inclinations,hard skills and trai

104、ning,and ethics,risk,and privacy awareness.Dovetailing with these mediocre results,a strong majority of business and tech leaders(73%)in our study conducted by Wakefield Research believe their company has allocated funds or talent to the latest Gen AI initiatives at the expense of more valuable data

105、 and analytics opportunities.The question of whether a company moved too quickly to invest in Gen AI reveals a further schism in leadership:only 58%of C-suite executives reported believing this,while directors(70%)and VPs(82%)are more likely to agree.Furthermore,the various explanations for why AI i

106、nitiatives stall out indicate a mixture of organizational and technical blockers.Better Data Preparation Can Improve(Gen)AI RolloutsMy organization is able to embed(fine-tune)enterprise data in its genAI models.My organization has trained its genAI model on its own data.My organization does not yet

107、have the ability to incorporate enterprise data.How Enterprise Data Is Used In Gen AI Models Today50%92%42%8%Base:777 global technology purchasing decision-makers involved with genAISource:A commissioned study conducted by Forrester Consulting on behalf of SoftServe,February 2024The recent rush to h

108、arness Gen AI left many business leaders disappointed as,according to a of 750 decision-makers who use Gen AI across various industries,only 22%of organizations have achieved enterprise-wide Gen AI success.2024 commissioned global study conducted by Forrester Consulting on behalf of SoftServe Report

109、The Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives21Responses to:“How strongly do you agree or disagree with the following statement?My organization has allocated funds or talent toward the latest Gen AI trends at the expense of more valuable data and ana

110、lytics initiatives.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 202415%5%6%7%1%4%58%81%72%20%12%17%26%22%33%27%39%33%5%21%6%Agree Agree Agree

111、 C-LEVELVICE PRESIDENT OR SENIOR VPDIRECTOR OR MANAGING DIRECTORAgree 100%Agree strongly Agree somewhat Disagree somewhat Disagree strongly Disagree 100%My organization has allocated funds or talent toward the latest Gen AI trends at the expense of more valuable data and analytics initiatives.14%34%

112、73%25%16%7%4%Agree 100%Agree strongly Agree somewhat Disagree somewhat Disagree strongly Disagree 100%Net agreementMy organization has allocated funds or talent toward the latest Gen AI trends at the expense of more valuable data and analytics initiatives.Responses to:“How strongly do you agree or d

113、isagree with the following statement?My organization has allocated funds or talent toward the latest Gen AI trends at the expense of more valuable data and analytics initiatives.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:

114、Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives22Lack of budget prevents my company from moving forward with AI initiatives.TotalC-LEVELVICE PRESIDENT OR SENIOR

115、 VPDIRECTOR OR MANAGING DIRECTOR35%26%35%40%Responses to:“Which of these challenges has ever deterred your organization from moving forward with an AI initiative?Select all that apply.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenu

116、eNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Percent agreeingBudget is also a major blocker as the leadership divide illustrates the importance of operational knowledge.Specifically,C-suite executives have a sanguine view of their budgets,as only 26%att

117、ribute low budgets to stalled AI initiatives.Compared with that,40%of directors and 35%of VPs see budget as a limitation.26%Which of these challenges has ever deterred your organization from moving forward with an AI initiative?Responses to:“Which of these challenges has ever deterred your organizat

118、ion from moving forward with an AI initiative?Select all that apply.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 202442%41%41%39%39%36%Lack o

119、f clear KPIs to measure successStaff lack the knowledge/skills to overseeInability to develop accurate AI modelsRisk of data exposure was too highInability to capture or access the right dataRegulatory compliance issuesReportThe Great Data Divide:How to bridge the gap between data capabilities and s

120、trategic initiatives23My AI initiatives have been blocked by regulatory compliance issues.What level of updating does your data strategy need before you could reap the full benefits of new data initiatives like AI?Complete overhaulA complete overhaulMajor updatesMajor updatesMINOR UPDATES OR NO UPDA

121、TESMinor updatesNo updates are needed41%17%38%56%29%26%2%Responses to:“Which of these challenges has ever deterred your organization from moving forward with an AI initiative?Select all that apply.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in

122、annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Responses to:“What level of updating does the data strategy for your organization/business unit or function need before you could reap the full benefits of new data initiatives like AI?”Base:750

123、leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Data strategy requires.Before exploring the potential of AI,firms must prioritize revisiting and updat

124、ing their data strategies.A staggering 98%agree that changes are essential to unlock AIs capabilities.Among them,73%believe this requires either major data-strategy updates or a complete overhaul.Without these foundational improvements,AI initiatives risk being undermined by outdated or inadequate d

125、ata frameworks.Irrespective of other factors,data maturity smooths all AI strategies,while immaturity correlates with negative downstream effects for AI initiatives:Organizations with robust and well-established data strategies requiring minimal or no updates(29%)faced fewer roadblocks from regulato

126、ry compliance in their AI initiatives compared to those requiring significant updates.Data Maturity Smooths AI InitiativesTools are only as good as the quality of the data.If you feed them bad data,they will produce poor outputs.Right now,Id say were only about 40%of the way to having clean,quality

127、data.Global Manufacturing CompanyCEO73%Laying Data Foundations for Gen AIReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives25Correctly implementing Gen AI in an enterprise requires more than cutting-edge applications;it demands a strong data foundat

128、ion.There should not be a conflict between investing in data projects and Gen AI.Rather,the key is to find the balance between the data supply side(data readiness)and data demand side(business-aligned Gen AI applications).Avoiding wasted effortsMisalignment can lead to wasted efforts,whereas priorit

129、izing data-supported,ROI-driven applications amplifies growth opportunities through both quick wins and long-term revenue growth.That plays into building data maturity and aligning it with Gen AI use cases to create a virtuous cycle that unlocks revenue potential and enables future projects.The esse

130、ntial component for this is data governance,with three aspects critical to preparing for Gen AI:1.2.3.Over-investing in data without use cases leads to unused assets,while emphasizing Gen AI without quality data diminishes effectiveness.Determining an optimal investment schedule also requires evalua

131、ting Gen AI use cases for both business benefits and data and technical readiness.Data Availability Ensuring the right data sources are integrated and accessible for AI applications.Data QualityAvoiding“garbage in,garbage out.”High-quality data reduces inaccuracies and duplicates,enabling better out

132、comes.Data Integration Effectively merging varied data types(structured and unstructured)for seamless Gen AI applications.AVP,AI/Data Science,SoftServeAVP of TechnologyIurii MilovanovZoriana DoshnaReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives26

133、Taken together,these findings underscore the urgent need for organizations with immature data strategies to consider an overhaul.Without action to resolve inefficiencies in accessibility and reliability,or a lack of leadership alignment,companies will continue to struggle with data-driven technologi

134、es.But if they act now,they can develop high-level AI-driven solutions and ultimately compete in markets driven by data-centric business models.The first step to overcoming these blocks lies in understanding the importance and potential ROI of data initiatives.That must lead not only to increased in

135、vestment but also to a deeper alignment with business needs and plans for larger rollouts.To guarantee the latter point,companies must prioritize the investments they make in data infrastructure.Data maturity entails precisely that:Building a data infrastructure that aligns with and enables the use

136、cases that will enhance decision-making,lead to greater efficiency,and ultimately increase both short-and long-term revenue.Data-mature companies understand that point.They are most likely to underwrite greater investments in data infrastructure,and least likely to undertake projects without proper

137、planning and infrastructure for rollouts.Overhaul Strategy To Secure ROI With Data MaturityGen AI and data have a mutually beneficial relationship.Stronger data results in more robust Gen AI implementations,while business-aligned Gen AI applications convert unused data into valuable assets.The key i

138、s finding the balance to create a virtuous cycle.AVP,AI/Data Science,SoftServeIurii MilovanovWhile guaranteeing data availability,quality,and integration is critical,companies with strong Gen AI applications may still lack the requisite database.They can leverage sampled data,which can provide the j

139、umping-off point for robust solutions,but this will still necessitate strong data governance and a thorough understanding of data origins and quality.Whatever Gen AI application is right for you,fostering synergy between strong data foundations and impactful AI applications transforms unused data in

140、to valuable assets,delivering both efficiency and a competitive advantage.Do you want to learn more about the synergies between data strategy and Gen AI?Learn more here!ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives27Alignment of ROI and Data St

141、rategy Drives(Gen)AI ProjectsHow often are AI solutions implemented at your organization without first establishing a firm business use case to guide the initiatives?Responses to:“How often are AI solutions implemented at your organization without first establishing a firm business use case to guide

142、 the initiatives?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueSource:SoftServe AI Survey,Wakefield Research,November 2024Responses to:“How strongly do you agree or disagree with the following statement?My organization often jump

143、s into AI with pilot initiatives that lack a clear plan for scaling to meet business goals.”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueSource:SoftServe AI Survey,Wakefield Research,November 2024OftenAll the timeSometimesRarely2

144、7%45%7%19%64%OFTEN OR ALL THE TIMENever2%Percent agreeingMany companies are rushing to implement AI.Take a step back.Ensure every use case has a clear ROI and implement AI one solution at a time.Accurate,clean data is critical without it,failure is inevitable.Global Manufacturing CompanyCEOMany orga

145、nizations face challenges due to a lack of alignment between AI initiatives and core business objectives.This misalignment often results in wasted resources and stalled projects.Our research shows that 64%of business leaders admit their companies frequently deploy AI solutions without first establis

146、hing a viable business use case to justify their efforts.Even when projects begin with a viable concept,scalability remains a significant hurdle.Alarmingly,74%of organizations report launching AI pilot programs without a comprehensive plan to scale them to achieve meaningful business outcomes.My org

147、anization often jumps into AI with pilot initiatives that lack a clear plan for scaling to meet business goals.Agree somewhatAgree stronglyAgree 100%Disagree somewhatDisagree strongly15%26%8%35%13%74%AGREEDisagree 100%3%ReportThe Great Data Divide:How to bridge the gap between data capabilities and

148、strategic initiatives28Responses to:“How strongly do you agree or disagree with the following statement?My organization often jumps into AI with pilot initiatives that lack a clear plan for scaling to meet business goals.”Base:750 leaders who oversee data management and AI use at global companies wi

149、th$1 billion or more in annual revenueSource:SoftServe AI Survey,Wakefield Research,November 2024Responses to:“How often are AI solutions implemented at your organization without first establishing a firm business use case to guide the initiatives?”Base:750 leaders who oversee data management and AI

150、 use at global companies with$1 billion or more in annual revenueSource:SoftServe AI Survey,Wakefield Research,November 2024My company always implements AI solutions without a firm business case.My company always jumps into AI pilot initiatives that lack a clear plan for scaling.83%60%60%COMPLETE OV

151、ERHAULCOMPLETE OVERHAULMAJOR UPDATESMAJOR UPDATESMINOR UPDATES OR NO UPDATESMINOR UPDATES OR NO UPDATESData strategy requiresData strategy requires80%73%72%The good news is that companies with greater data maturity tend to deploy AI solutions less haphazardly.While 83%of companies requiring a comple

152、te data strategy overhaul often or always deploy AI solutions without first identifying well-defined business use cases,the figure decreases substantially for more data-mature companies.The same is true for solutions deployed without plans to scale,though to a lesser extent.83%OFTEN OR ALL THE TIMEA

153、greeReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives29How much will your organizations investment in data management change over the next 12 months?My organizations investment in data management will increase significantly in the next 12 months.Fu

154、nding does not appear likely to be the blocker to successful data projects.Organizations are gearing up to prioritize data management projects,with 85%planning to increase investments in this critical area over the next year.However,companies with fully mature data strategies are twice as likely to

155、significantly ramp up investments over the next 12 months 42%versus 19%for those with less developed strategies.Data-Mature Companies Most Likely To Increase InvestmentThis additional funding could be a strategic enabler,laying the groundwork for adopting advanced AI-driven solutions and strengtheni

156、ng data-driven decision-making across the enterprise.But without allocating funds to data infrastructure embedded in alignment with the needs of scalability,companies will struggle to make the most of cutting-edge technologies.Percent agreeing42%19%FULLY MATURELESS THAN FULLY MATUREMy companys data

157、strategy isIncrease somewhatIncrease significantlyStay about the sameDecrease somewhatDecrease significantly10%1%56%4%29%85%WILL INCREASE 85%Companies need to invest in a data strategy and take steps toward adopting AI and machine learning.These technologies are the future delay too long,and youll b

158、e left behind.BankingVP of Data Engineering and Software EngineeringResponses to:“How much will your organizations investment in data management change over the next 12 months?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueSource:

159、SoftServe AI Survey,Wakefield Research,November 2024Responses to:“How much will your organizations investment in data management change over the next 12 months?”Base:750 leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueSource:SoftServe AI Sur

160、vey,Wakefield Research,November 2024ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives30Responses to:“What are the top challenges,if any,you face in your role when it comes to efforts to improve or enhance your organizations data strategy?”Base:750

161、leaders who oversee data management and AI use at global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024We continuously assess our current data capabilities,evolving our strategy through partnerships,collab

162、oration,and change management.This approach is vital for growth in the coming years.Global Insurance CompanyCIOVaried tech solutions are being used throughout the organizationData ownership isnt consolidated under a single functionLeadership doesnt see the value of data strategy effortsCompany leade

163、rs set a direction without our involvementCompany reliance on legacy techMy team has little to no say over budgetFACE CHALLENGES IN EFFORTS TO IMPROVE/ENHANCE DATA STRATEGY LEGACY TECH OR VARIED TECH THROUGHOUT THE ORGVARIED TECH THROUGH ORG OR DATA OWNERSHIP NOT CONSOLIDATED50%75%73%98%73%47%44%44%

164、39%33%What are the top three challenges you face to improve or enhance your organizations data strategy?Remove Impediments To Move Forward With Data InitiativesWhere must forward-thinking companies begin?To create a future-ready data strategy and maximize ROI,organizations must address key challenge

165、s impeding progress.A significant 50%of leaders identify the widespread use of varied technologies across their organization as a top challenge,while 47%point to fragmented data ownership as a barrier to achieving a unified approach.Amid these challenges,prioritizing impactful data-strategy initiati

166、ves requires a strategic approach.According to our study,many leaders are unclear on where they need to prioritize.When examining areas of their data strategy most in need of improvement,the top responses included improving data catalog systems 33%and rectifying inaccurate or incomplete data 32%.How

167、ever,no initiatives scored substantially lower,which emphasizes the customized nature of approaches that need to be developed for individual organizations.ReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives31Responses to:“In which areas is your organ

168、ization most in need of improvement when it comes to your data strategy?Drag your responses over to the right and rank them in order.The option you place at the top will be the area most in need of improvement.Please rank the top three areas.”Base:750 leaders who oversee data management and AI use a

169、t global companies with$1 billion or more in annual revenueNote:Multiple responses acceptedSource:SoftServe AI Survey,Wakefield Research,November 2024Improving our data catalogPercent selectingCorrecting for inaccurate or incomplete dataRationalizing applicationsConsolidating our toolsImproving data

170、 governanceModernizing applicationsMaking data access easierEliminating data siloesModernizing our cloud strategyEnhancing data literacy among staff33%28%28%28%32%31%31%31%30%29%The lack of consensus regarding how to tackle the most important data projects means that,on the road to prioritizing,it w

171、ill be crucial to take a strategic,but individual approach.Whether that means enhancing data catalog systems,rectifying inaccurate data,consolidating tools,strengthening governance,or building staff data literacy,the key is to focus on the initiatives that promise the most impact for each business.T

172、his becomes a crucial juncture for companies with immature data strategies.Without proactive and prioritized investment,intrinsic inefficiencies in data accessibility,reliability,and lack of leadership alignment will persist.This will obstruct the potential for data-driven innovation,high-level AI i

173、ntegration,and competitiveness in the data-centric market.The immediate need for businesses is to prioritize their data initiatives.That will not only help them attain maturity but more strategically secure strong ROI.Understanding the challenges that emerge from varied technologies,fragmented owner

174、ship of data,outdated tech dependency,and decision-making constraints will be essential to forging ahead and working with expert partners will make it a lot easier.In which areas is your organization most in need of improvement when it comes to your data strategy?Top three responsesReportThe Great D

175、ata Divide:How to bridge the gap between data capabilities and strategic initiatives32The survey shows that the rewards to be gained from a proper data strategy and management are undeniable,despite evident hurdles such as governance.A successful outcome can open numerous opportunities such as new r

176、evenue pathways,the ability to fruitfully deploy more advanced technologies,improved efficiency,and the ability to monetize data assets.However,achieving such gains requires transcending leaderships sometimes limited understanding of the often-complex potential of data initiatives.It also calls for

177、a shift from prioritizing less rewarding initiatives to ones that promise a higher return on investment.The high failure rate of projects like Gen AI in businesses that lack data maturity underlines the importance of this shift.As we noted in our first Spotlight section,companies seeking sustainable

178、 success need to re-engineer their data strategies to align with their business objectives.Our second Spotlight suggests that companies build a dedicated digital lobby group to bridge this gap.Such a group will enable companies to achieve the data availability,quality,and integration required for ad

179、vanced AI and Gen AI applications,as outlined in our third Spotlight section.An enhanced focus on revenue-generating initiatives will naturally follow for data-mature businesses.They,in turn,will spearhead the recognition of the crucial role data strategies play in fostering long-term growth and inn

180、ovation across industries.However,the road ahead is not without its challenges.The lack of clarity on which aspects of data strategy need to be prioritized underscores the need for guidance from digital strategy advisors,particularly given the varied and often unique situations across individual org

181、anizations at varying degrees of data maturity.A successful data strategy is more than an ideal framework.Its about identifying and creating tangible business value,strategically and practically,one step at a time.The time to embrace effective data practices for a prosperous future is now.SoftServe

182、is here to help you discover which pathway is right for you and support you on that journey.ConclusionWakefield Research conducted in-depth interviews with 5 business leaders or technology and data and analytics executives(Director+)with responsibility for data management,data management strategy,or

183、 AI use at companies with an annual revenue of$1B or more in North America,EMEA,and APAC.The interviews,lasting up to 45-minute each,were conducted in December 2024 by video conference.Results of any sample are subject to sampling variation.The magnitude of the variation is measurable and is affecte

184、d by the number of interviews and the level of the percentages expressing the results.For the interviews conducted in this particular study,the chances are 95 in 100 that a survey result does not vary,plus or minus,by more than 3.6 percentage points for the global sample,and 6.2 percentage points fo

185、r each region(North America,EMEA,APAC)from the result that would be obtained if interviews had been conducted with all persons in the universe represented by the sample.The SoftServe AI Survey was conducted by among 750 business leaders or technology and data analytics executives(Director+)who are f

186、amiliar with or have responsibilities for data management,data management strategy,or AI use at companies with an annual revenue of$1B or more in 3 regions:N.America:US,Canada;EMEA:UK,Germany,Nordics Sweden,Denmark;and APAC:Singapore,Australia,between October 24th and November 3rd,2024,using an emai

187、l invitation and an online survey.Qualifying industries include financial services/banking/insurance;healthcare&life sciences;retail/FM consumer goods;high-tech;manufacturing/automotive;energy/oil&gas/utilities;mining&minerals;agriculture&agriculture technologies.Quotas were set for even distributio

188、n among region and industries.Aggregated quota for at least 100 select C-Level titles:CEO,COO,CIO,CTO,CDO.Wakefield Research MethodologicalNotesReportThe Great Data Divide:How to bridge the gap between data capabilities and strategic initiatives33NORTH AMERICAN HQ201 W.5th Street,Suite 1550 Austin,T

189、X 78701+1 866 687 3588(USA)+1 647 948 7638(Canada)European HQ30 Cannon StreetLondon EC4 6XHUnited Kingdom+44 333 006 4341Why SoftServeSoftServe is a premier IT consulting and digital services provider.We expand the horizon of new technologies to solve todays complex business challenges and achieve m

190、eaningful outcomes for our clients.Our boundless curiosity drives us to explore and reimagine the art of the possible.Clients confidently rely on SoftServe to architect and execute mature and innovative capabilities,such as digital engineering,data and analytics,cloud,and AI/ML.Our global reputation

191、 is gained from more than 30 years of experience delivering superior digital solutions at exceptional speed by top-tier engineering talent to enterprise industries,including high tech,financial services,healthcare,life sciences,retail,energy,and manufacturing.We partner with major technology players,such as Google Cloud Platform,Amazon Web Services,Microsoft Azure,Salesforce,and NVIDIA,to give clients a competitive advantage in the market.Lets