Leveraging data can help businesses to better understand their customers and create a competitive advantage. It can inform decision-making, optimise solutions and enable innovation.

This report presents a data maturity model to assess how sophisticated businesses in Australia and New Zealand are when it comes to data. The framework scores businesses across five pillars of data maturity: understanding of data, organisational strategy, capability and culture, tools, and processes.

In its second year, Demystifying Data 2021 shows that despite rapid digital adoption driven by COVID-19, data maturity levels in organisations have not improved over the past year, with three in five organisations still at basic or beginner data maturity levels.

Data analytics has the potential to unlock significant value for organisations in this context. Economic modelling for this report finds every step of higher data maturity can lead to 6.7% growth in revenue every year.

This report outlines a roadmap for businesses seeking to improve their data maturity. From bringing in senior leaders, investing in skills and finding opportunities to improve data management, there are simple steps businesses can take to becoming a data-driven organisation.