State of Data Report 2024

What the highest and lowest performers have to teach us about the future of data modernization and Gen AI 

In Hakkoda’s State of Data 2024 report, we surveyed 500 data leaders from large organizations across eight major industries to categorize participants into four unique stages of data maturity, identify key focuses and themes for the years ahead, and pinpoint investment opportunities for businesses at every stage of the data innovation journey.

Download the State of the Data 2024 report and discover key trends in data modernization, monetization, literacy, and GenAI, including:

  • 83% of organizations said their current data strategy was “moderately” or “extremely” effective, but only 56% of those same organizations report that their data strategy goals were achieved in 2023.
  • Only 27% of organizations surveyed demonstrated a high level of data literacy across their respective organizations.
  • 94% of organizations surveyed said they will need to modernize their data stack in 2024. 79% of those companies said they will need a “moderate” or “large” amount of external help. 
  • While 42% of organizations said they used GenAI tools in 2023, that number is expected to jump to 85% in 2024.
  • The most data-mature organizations reported an average ROI of 164%, as compared to an average of 73% for the least data-mature organizations.

Download the Report

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“For leaders at organizations with legacy data environments, this research should be a call to action. Companies that don’t prioritize modernization will risk falling even farther behind in the market in 2024, drifting toward obsolescence as they struggle to compete against their highly efficient, data-driven peers.”

Erik Duffield, CEO of Hakkoda