Lack of IT Resources Hinders Data Analytics

 
 
By Dennis McCafferty  |  Posted 10-21-2013 Email Print this article Print
 
 
 
 
 
 
 
 

A recent survey from Lavastorm Analytics presents a classic “good news/bad news” picture. The good news? An overwhelming majority of organizations recognize the rising value of data analytics. In fact, analytics technologies are driving more decisions these days than the classic gut feeling that many company leadership teams depended upon in the past. As for the bad news? An alarming lack of IT resources and tools, as well as required skill sets among employees, is keeping organizations from maximizing the value of existing data. At too many companies, the business side and the IT side work with their own analytics tools, as opposed to working together in a collaborative manner. And talented professionals who are hired on as data analysts spend a stunningly small percentage of their time actually doing data-analytics jobs. (OK, safe to say there's a bit more bad here than good, but admission is the first step toward improvement, right?) More than 425 members of the analytics community, including business analysts, technologists, data-analytics pros, IT managers and C-level execs, took part in the research. For more about the survey, click here.

 
 
 
  • Useful Tool

    83% of respondents say analytics is critical to their organizations, driving day-to-day decisions now more than past experiences, intuition and other factors.
    1-Useful Tool
  • Biggest Barriers for Analytics Initiatives

    Lack of skills, training and education: 19%, Lack of funding or resources: 18%, Inadequate executive support: 10%
    2-Biggest Barriers for Analytics Initiatives
  • Help Wanted

    Two-thirds of survey participants say their organization don't employ enough people with adequate skillsets to analyze and glean insight from data.
    3-Help Wanted
  • Biggest In-Demand Analytics Skills

    Statistics, math and quantitative capabilities: 48%, Analytics tool training: 40%, Critical thinking: 28%
    4-Biggest In-Demand Analytics Skills
  • Siloed Systems

    36% of survey respondents say business and IT both have analytic resources and they function independently, as opposed to 26% who say both have these tools and work collaboratively.
    5-Siloed Systems
  • Misallocated Minutes

    Data analytics professionals spend only one-fifth of their time on data analysis.
    6-Misallocated Minutes
  • What Accounts for Nearly One-Half of a Data-Analytics Professional’s Day

    Gathering requirements: 13%, Preparing and presenting reports: 10%, Meetings: 9%, Administrative activities: 7%, Infrastructure design and implementation: 5%, Testing and tuning processes: 4%
    7-What Accounts for Nearly One-Half of a Data-Analytics  Professional’s Day
  • Roadblock

    38% of survey respondents say insufficient self-service tools and reports prevents their access to data, and the same percentage say that IT data-governance policies do the same.
    8-Roadblock
  • Missing Inventory

    35% say IT doesn't even have the data in the data warehouse.
    9-Missing Inventory
  • FYI

    13% say their organization needs to have a better, increased awareness of the opportunities within analytics and big data.
    10-FYI
 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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