Adoption of Data Analysis Tools in Financial Institutions: Factors Influencing Effectiveness

This study investigates how organizational data literacy and technology infrastructure readiness affect the efficacy of data analysis tool adoption in financial organizations. It also looks into how top management support influences the relationship between technology infrastructure readiness and adoption effectiveness. A quantitative technique was used to collect data from 385 respondents—including bank staff, IT professionals, executives, and finance-sector policymakers—via structured interviews and online questionnaires. All responses were scored on a 5-point Likert scale, and participants were chosen through stratified probability sampling to guarantee representation across professional roles. Cronbach's alpha was used to assess reliability and validity, as well as exploratory factor analysis and multiple linear regression with moderation. The results show that both organizational data literacy and technology infrastructure preparation greatly improve adoption effectiveness. Notably, top management support enhances the favorable impact of technological infrastructure readiness on adoption outcomes, emphasizing the importance of leadership involvement in optimizing the value of analytics investments. This study adds to the literature by combining the Technology-Organization-Environment (TOE) paradigm with the Unified Theory of Acceptance and Use of Technology (UTAUT), which provides a socio-technical viewpoint on analytics adoption. Practical implications underscore the necessity for financial institutions to link technology assets with human talents and strategic leadership in order to maximize data-driven change.