This review examines ROI measurement in data and analytics initiatives, suggesting a multi-layered model integrating strategic alignment theory and analytics maturity models.
Key Points
ROI in analytics is influenced by industry and maturity, with firms achieving up to 40% returns when utilizing cognitive strategies.
Organizations reporting descriptive or diagnostic maturity see modest ROI between 12-18%, while predictive and prescriptive analytics yield 29-35% returns.
The proposed model links data and analytics to enterprise outcomes, emphasizing leadership, culture, and governance as enablers of success.
Evidence from surveys and case studies supports a comprehensive framework for assessing ROI, highlighting gaps in traditional models focused on deliverables.