Successful data value creation: Where are the problems?
According to an international data analytics study by the consulting firm AWK on the success factors and stumbling blocks in the consistent "data-to-value transformation," all of the companies surveyed - most of them Swiss - have recognized the strategic importance of data. A small minority have even been able to develop new business models thanks to analytics. However, almost one-third of the projects launched have failed.

Data value creation is one of the top issues of the digital age. For 87 percent of the companies from a wide range of industries as well as the public sector surveyed by the AWK Group in an international study, "data analytics" is of strategic importance. The study, in which 127 companies, mostly from Switzerland, participated, set itself the goal of identifying success factors and stumbling blocks for the "data-to-value transformation". After all, a full 40 percent of the study participants have already been able to develop new business models thanks to analytics! 44 percent have increased sales, and 50 percent have at least been able to cut costs. Accordingly, an overwhelming majority (81 percent) will expand their value creation from data, while only 13 percent want to remain at the current level.
Data value creation in many places still under development
More than half (55 percent) use data to support and justify upcoming decisions. A further third (35 percent) already systematically use data and forecasts to make decisions, but only 5 percent use data to guide decisions automatically. Jonas Dischl, Head of Data Analytics & AI at AWK Group, comments: "Decisions are hardly ever made without considering data and facts. But the consistent 'data-to-value transformation', i.e. the systematic creation of value from the available data, is still in the process of being developed by the majority of participants. The study shows where the challenges lie and confirms our experience in daily consulting practice."
Where data analytics is used most
Not surprisingly, the use of data analytics is most widespread in number-oriented departments such as Finance & Controlling (53 percent), according to another finding of the study. Sales & Marketing and, surprisingly, Production (40 percent each) would also use these tools, followed by IT at 39 percent. Customer service is already data-driven in just over a quarter (26 percent). In research & development, it is only 20 percent, but at least strategy & control and business development are slightly higher at 23 and 22 percent, respectively. Christian Mauz, Partner at AWK Group interprets: "With the powerful tools from Data Science, completely new possibilities for data value creation have been created. Data Analytics is more important than ever for the future viability of companies. But long-term value is only created when use cases are consistently designed along data-to-value. Today, this is only the case for a minority of companies."
Ideas available - implementation difficult
It is true that 85 percent of companies do not lack ideas for data-driven application scenarios. But the lack of prerequisites would prevent them from putting these ideas into practice. The study backs this up with the following figures: More than two-thirds (67 percent) have a budget and nearly two-thirds (60 percent) have the necessary tools and technologies. But nearly 40 percent said their data is not of the required quality, and for 43 percent, resources and skills are a shortcoming. Skilled workers are scarce and mostly decentralized within companies. On average, all the companies surveyed employ 10 specialists in the field of data analytics, regardless of their company size.
Lack of processes for data value creation
An established approach is to work with proof of concepts before a solution is implemented productively. However, these almost 90 percent are contrasted by more than two-thirds that have no defined process for controlling implemented use cases and evaluating their potential for further action.
Therefore, the rather high proportion of shipped proofs of concepts, almost one-third (28 percent), is not surprising: "Companies are just beginning to understand how the data-to-value transformation process works. For the majority, the challenging technical integration is the biggest stumbling block. At the same time, processes, responsibilities and interfaces are also still immature," AWK writes on this finding.
Interested parties can obtain the study here: AWK Group