Chapter 2: The power of data
Summary
In this chapter, we explore the importance of data-led strategies for our respondents, their biggest data transformation challenges, and their goals for this transformation.
Our research underscores the growing importance of data-led strategies within B2B organisations. A significant 67% of respondents consider such strategies either important or critical to their business success.
This heightened awareness reflects the recognition that data-driven insights can unlock new opportunities, optimise operations, and drive sustainable growth.
While the intent to embrace data-driven strategies is clear, B2B leaders face a number of challenges in their transformation journeys.
A key obstacle is data quality, with 53% of respondents identifying it as a major concern. This highlights the need for robust data governance practices to ensure data accuracy, completeness, and consistency.
Another significant challenge is fostering a data-driven culture. 51% of respondents cited this as a major hurdle.
To address this, organisations must prioritise data literacy training, encourage data-driven decision-making, and empower employees to leverage data insights.
Additionally, 47% of respondents highlighted data security and privacy as a major concern. As organisations collect and analyse increasing amounts of sensitive data, it is imperative to implement robust security measures and adhere to data privacy regulations.
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Question 1: How important is a data-led strategy to your organisation?
Question 2: What are the biggest challenges your organisation faces as it enhances data analytics capabilities?
Question 3: How far along is your organisation in its data-led transformation strategy?
Question 4: How will enhanced data analytics support your organisation's marketing campaigns?
How important is a data-led strategy to your organisation?
Important
Somewhat important
Critical
"Data is the foundation of every modern B2B strategy, yet this report underscores a surprising gap—only 16% of respondents see data-driven strategies as critical, despite their acknowledged importance. What this suggests is a need for actionable steps to turn intent into execution. Leaders must empower their teams not only with the tools to access and analyse data but also with the confidence to rely on these insights for strategic decisions. Cultivating a truly data-centric culture is a marathon, not a sprint."
Eberhardt Weber, CEO, Emporix
What are the biggest challenges your organisation faces as it enhances its data analytics capabilities?
Lack of data quality
Lack of data-driven culture
Data security and privacy
Data siloes
Lack of standardised data
A lack of talent in this specific area
Resource constraints
Lack of first-party data
Measuring ROI
Internal resistance to change
"The basis for data-driven decision making is having good data quality. This is where our focus lies to date as well. It is about defining the sources and finding them to be credible. This is the basis for artificial intelligence as well. Business analytics expertise is vital so that the data can be turned into actionable items to foster a business analysis culture, which is also a focus.”
Tanja Tschech, Digital Transformation Manager, Roehm
How far along is your organisation in its data-led transformation strategy?
We are midway through
We have just started to explore data-driven insights
We have almost completed our strategy
We have not started to make changes
We have successfully implemented our strategy and are already working in a data-driven culture
"I would say we are midway through; however, it is also important to highlight that transforming into a data-led organisation is a continuous process. That being said, we are on a continuous journey to improve, integrate and connect the different areas of the business and their capabilities."
Liliana Torres, Global Head of Marketing, ABB
How will enhanced data analytics support your organisation's marketing campaigns the most? (Respondents were asked to select all that apply)
Increase marketing efficiency
Leverage richer product data for more bespoke recommendations
Optimise customer engagement
Understand customer behaviour more accurately
"It is not surprising that increasing marketing efficiency is the top answer here. This is part of the bigger marketing automation piece, but driving efficiency, reducing cost, and reducing manual input into marketing processes as much as possible are all key areas that can provide huge support for marketing campaigns."
Laurence Taylor, Conference Director, B2B Online Europe 2024
