Monthly Archives : април, 2022

Data Maturity: When a business is ready to boost profitability out of its data?

Way too many among the managers of small & medium enterprises feel they are too small or they are not yet prepared to benefit from applied data science. Sometimes they are right and sometimes wrong. This is rising the question, when actually a business is ready to generate more profits/savings out of their existing data? How big it should be before consideration of data crunching. If a manager doesn’t dig deep enough into capabilities of applied data science or doesn’t have data analytics expert or at least consultant by their side, it is quite easy to miss significant opportunities for positive change and growth. This blog post is focused on this specific perception.

Let’s focus on businesses taxonomy regarding of their data maturity. They are five (relatively broad) levels of business data utilization as you can see from the graphic bellow.