Carefully curated from some of the most thorough global research into the Data Explosion megatrend, these 5 trends directly impact those of us dedicated to the member industry:
By 2025, the total amount of digital data created worldwide will rise to 175 zettabytes (from approximately 40 zettabytes in 2019), ballooned by the growing number of devices and sensors. – IDC Data Age 2025
Takeaway: Data is only increasing, and your organization will be left behind if it cannot find a way to capture, manage, and utilize data.
BI and analytics adoption is at about 30% of all employees, according to Gartner.
Takeaway: You are not the only association challenged by user adoption. Get ahead of the pack by picking a solution that’s easy to use, is licensed by organization (not by seat), and adds immediate value.
By 2020, more than 40% of data science tasks will be automated, resulting in increased productivity and broader usage by citizen data scientists. – Gartner: 100 Data and Analytics Predictions through 2021
Takeaway: Everyday business users are becoming more fluent in data, and tools will continue to simplify it. Your association doesn’t need a data scientist for simple analytics, as noted in the Harvard Business Review.
By 2022, 90% of corporate strategies will explicitly mention information as a critical enterprise asset and analytics as an essential competency. – Gartner: Our Top Data and Analytics Predicts for 2019
Takeaway: Being competent at data management and interpretation is increasingly essential for survival. Staying relevant in the future means building a data culture now, so that individuals and teams learn to rely on data for informed decision-making.
By 2021, 66% of analytics processes will no longer simply discover what happened and why; instead they will also prescribe what should be done. –Ventana Research Assertions.
Takeaway: It’s important to understand baseline metrics, like how many members your association has and how much revenue they generate - but start shifting your mindset and strategy toward systems that initiative engagement activity, driving change and feeding your analytics loop with fresh outcomes from which to learn.
Teams of researchers at the Harvard Business Review, Gartner Research, Ventana Research, and IDC have contributed to this collection. We hope that this association-focused curation helps prepare you and your organizations to better understand and ride the data wave.
The research and customer success teams at Gravitate are dedicated to isolating and harnessing the very best data analytics technologies and techniques specifically for member-based organizations and we would enjoy discussing with you the ways in which our customers are deriving benefit.