A Guide to Data-driven Growth

From Insights to Impact – For Belgian Businesses

With this study, we at Volve examined how Belgian companies across different industries are handling data-driven changes. We talked to data experts and practitioners to find out key trends, best practices, and lessons learned to help organizations accelerate their data journeys.

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Data has become fundamental to create competitive advantage, with research showing data-driven organizations are:

23x more likely to acquire customers
6x higher chance to retain them
19x higher probability to be profitable (McKinsey)

However, many companies struggle to realize these benefits due to challenges in e.g. data quality, architecture, skills, and cultural adoption. This report tries to provide insights from Belgian data leaders to help organizations deal with these challenges effectively. Our research covered multiple industries and business functions, revealing three critical success factors:

Strategic Staging: Successful transformations balance quick wins with larger investments, avoiding the pitfall of an overly ambitious initial scope.
Holistic Approach: While technology is essential, sustainable success requires equal attention to elements like skills development, governance frameworks, and cultural change.
Contextual Adaptation: Each organization must align its data strategy with their unique industry dynamics, business model, and strategic priorities.

With this report, we aim to provide some guidance & insights while encouraging organizations to develop strategies aligned with their specific context and goals. Through peer insights, we hope companies can accelerate their journey towards data-driven success.

We would like to thank the following companies for their participation.