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Data Management: Not-for-Profit Organizations Lack Data Analysis Budgets
Non-profit organizations, generally budget-starved and short on resources, are finding it harder to make the technology investments that would let them participate in many of the new data-centric technologies. Two-thirds of non-profits say that they have no connection between their front and back-office systems, and 60 percent say that they lack any kind of central plan for managing data. Those are the results from a survey of non-profits in the UK made by Advanced Business Solutions.
The ABS report estimates that 96 percent of Not-for-Profit organizations are not able to manage or process the data that they collect. Many of these organizations, which include charities and social outreach, have collected terabytes of information, but they’re not able to effectively mine that data for greater insights about the people they serve or the people who support them. 75 percent say that they lack the times, skills and overall resources to analyze the data which they’ve collected.
Simon Fowler, MD of Advanced Business Solutions, said that “in this highly digitalized, data-centric environment, organisations that can extract behavioural insights from customer data and transform them into ‘sticky’ services, will be in a stronger position to attract new supporters, as well as engage and retain existing audiences. An inability to manage data to gain a competitive advantage is the single biggest threat facing NFPs right now. They risk trailing behind in this data-driven era.”
