The global IT research and advisory firm’s new research explains why nonprofits should view data and analytics as a digital enabler rather than a cost
TORONTO, July 10, 2023 /PRNewswire/ – As nonprofits struggled to pivot when the pandemic disrupted traditional programs and fundraising avenues, they began to implement digital tools to assist their efforts. These tools continue to collect more valuable data than most nonprofits realize. As the use of data-driven approaches for day-to-day operations continues to increase, the need for nonprofit organizations to transform and initiate data programs to keep up with current trends is becoming clear. To support nonprofit leaders seeking to leverage digital data to their organizations’ best advantage, Info-Tech Research Group has released its new data-backed blueprint designed specifically for nonprofits.Â
The resource, titled Make the Case for Your Nonprofit’s Data and Analytics Initiative, was designed to demonstrate the value of data for nonprofit organizations by building a use case repository as the first step in the transformation process. It is also intended to help nonprofits prioritize these use cases by determining how aligned they are to their organizations’ strategies, goals, objectives, and capacity.
“Building and fostering a data-driven culture will accelerate and sustain the adoption of, appetite for, and appreciation for data, therefore driving the return on a data investment,” says Monica Pagtalunan, research analyst in the Industry Practice at Info-Tech Research Group. “On their data journeys, nonprofits can also prioritize operational excellence use cases to mitigate risk, though this may not push enough boundaries to get the organization excited about a data initiative. Therefore, it’s important to consider use cases that drive constituent experience and program innovation.”
Research shows that data-driven programs accelerate transformation, with nonprofit organizations that have adopted data and analytics enjoying digital acceleration. The new resource highlights three primary reasons nonprofits should adopt data-driven programs, as outlined below:
Nonprofit organizations are facing unprecedented challenges that have caused changes to the way they provide services. Nonprofits have experienced various pressures over the past three years, including program disruptions, staffing shortages, decreased funding, and increased demand for services.
A digitally transformed nonprofit organization will ensure resiliency while facing external disruptions and internal interruptions. For example, digital giving, virtual events, and conversational artificial intelligence (AI) are all digital areas that have been experimented with to combat changes in consumer behaviors and preferences.
Digital transformation requires being data-driven. Data is the foundational step necessary to support any core organization transformation initiatives. With the addition of digital tools, all of which are flowing with data, this foundation means an organization can build well-honed insights to understand impact and value.
Info-Tech Research Group advises nonprofit leaders to balance their data initiatives with data privacy to ensure personal and sensitive data meets legal privacy and security requirements. Donors and members are important external stakeholders on which nonprofits rely heavily, and the exposure of their data can impact their trust and confidence in an organization.
To access the full research and industry resource, download Make the Case for Your Nonprofit’s Data and Analytics Initiative.
For more information about Info-Tech Research Group or to view the latest research, visit infotech.com and connect via LinkedIn and Twitter.
Info-Tech Research Group is one of the world’s leading information technology research and advisory firms, proudly serving over 30,000 IT professionals. The company produces unbiased and highly relevant research to help CIOs and IT leaders make strategic, timely, and well-informed decisions. For more than 25 years, Info-Tech has partnered closely with IT teams to provide them with everything they need, from actionable tools to analyst guidance, ensuring they deliver measurable results for their organizations.
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SOURCE Info-Tech Research Group