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Businesses are spending more on data management, but few are making the most of the investment.
The annual State of Data and Analytics report by data firms Qlik and Corinium has found just 8 percent of New Zealand's data managers believe data had a "very high" influence on the wider business, or that they were involved in strategic business decisions.
It also found only about a third (39 percent) of data managers said their organisation had a data-driven business culture.
And while nearly two-thirds (64 percent) expected to see an increase in their department's staff numbers over the next 12 months, about half said it was challenging to hire and retain people with data and analytics skills.
Qlik country manager for Australia and New Zealand Paul Leahy said corporate culture was a big part of making the most of data.
"You have to enable your people ... we think that investing in that cultural change mostly around data literacy and organizations is such an important part of your journey," he said, adding that a plan to use the data was most important.
"Organisations that say we're just going to use data better without that plan ... often stumble."
In terms of spending, technology research firm IDC's just-issued Worldwide Big Data and Analytics Spending Guide for Australia and New Zealand estimates spending on big data and analytics was US$5.5 billion in 2022 and was expected to rise to $8.9b by 2026.
