The information revolution has been a blessing and a curse for companies and communicators, and the arrival of AI has solely made issues extra sophisticated. And now, new analysis from cloud knowledge engineering consultancy Hakkōda finds that nearly all firms are going to wish a full knowledge stack overhaul earlier than 12 months’s finish.
The agency’s newly launched State of Information 2024 report, based mostly on a survey carried out by Lawless Analysis, signifies that with new AI capabilities shortly being built-in into enterprise IT—a considerable 50 p.c of organizations are actively implementing AI for restricted use circumstances akin to automation—each group surveyed views generative AI as vital, and almost two in three organizations reported that generative AI will likely be very or critically vital to their success by 2027. However to get one of the best outcomes, 94 p.c of all organizations polled say they should improve their knowledge techniques this 12 months.
The report additionally discovered that the majority organizations say they’ve the essential AI abilities and experience to help using GenAI: 42 p.c of respondents agreed strongly and 44 p.c agreed reasonably.
Among the many survey highlights:
- 70 p.c of organizations have already deployed a few of their knowledge within the cloud
- 64 p.c of organizations intend to monetize their knowledge in 2024
- 45 p.c of C-level are extraordinarily assured their knowledge crew can construct the generative AI capabilities they want, whereas solely 28 p.c of their VP-level counterparts really feel the identical
To gauge how firms make the most of their present knowledge stack and put together for the long run of their respective industries, the report additionally differentiates organizational knowledge maturity. Greatest practice-based proof of harnessing and optimizing knowledge techniques is used to categorise 4 phases of sophistication in an organization’s knowledge journey shifting from chaos to order to Perception to Innovation. These phases of maturity produced notable variance in survey responses.
These in chaos don’t know they’re in chaos
Almost all organizations say they should modernize (94 p.c), and almost half of all organizations (48 p.c) say they should modernize their knowledge techniques “an excellent deal” in 2024. Solely 24 p.c of chaos organizations report needing to modernize their knowledge techniques “an excellent deal” in 2024, whereas 66 p.c of Innovation organizations make that dedication, indicating vastly totally different perceptions of functionality challenges.
Maturity affords ROI bump
On common, organizations reported attaining 126 p.c return on funding for his or her 2023 outlay in knowledge applied sciences and instruments. Chaos organizations reported averaging solely 73 p.c ROI. Innovation organizations reported a median ROI of 164 p.c.
Corporations with excessive ROI knowledge methods leverage outdoors experience
Innovation organizations outsource 63 p.c of knowledge administration on common. Chaos organizations outsource 39 p.c.
Notion vs. actuality in knowledge technique
Whereas 83 p.c of organizations rated their knowledge technique as efficient in 2023, solely 56 p.c really reported attaining their strategic targets. This hole is most pronounced amongst chaos organizations, the place the achievement charge falls to 43 p.c.
“The report underscores the crucial want for modernizing knowledge methods and a rising concentrate on AI integration,” mentioned Erik Duffield, CEO of Hakkōda, in a information launch. “It additionally highlights a chasm between organizations which might be main in innovation and people enjoying catch up in chaos. Those that use managed providers transfer additional and sooner. At Hakkōda, we’re centered on bridging this hole.”
Obtain the complete report right here.
The blind survey was carried out by Lawless Analysis in December 2023 of 500 knowledge leaders from giant organizations throughout main industries, holding director-level or greater positions in IT and analytics roles at US firms with 1,000 or extra staff. 20 p.c of respondents got here from organizations with lower than $500M annual income; 29 p.c with $500M to $999.9M annual income; 37 p.c with $1B to $9.9B annual income; and 14 p.c with $10B or extra annual income.
