Database Slideshow: MIT Data Analytics ReportBy Dennis McCafferty | Posted 11-17-2010
50 percent of respondents say that improving information/analytics capability is a top priority.
37 percent of respondents say that business information and analytics differentiate their organization within their industry.
45 percent of respondents do not believe that their organization makes decisions based on rigorous analytic approaches.
One in three
One in three respondents say they make critical decisions without the information they need.
53 percent of these leaders say they don't have access to information needed across their organizations to do their jobs.
30 percent of respondents do not believe that their organization predicts and prepares for the future by proactively evaluating scenarios or potential trade-offs.
33 percent of these executives feel that their organization does not manage data to enable the ability to share and aggregate this information across departments or business units.
50 percent - Page 8
60 percent60 percent of respondents say that their organization has more data than it knows how to use effectively.
36 percent of respondents say their business unit does not do a good job of disseminating information and insights.
35 percent of respondents say their business unit does not do a good job of using insights to guide day-to-day operations.
Top 5 data priorities (percent respondents):
Integration (44 percent)Consistency/standardization (39 percent)Simplification (34 percent)Trustworthiness (34 percent)Timeliness (32 percent)
Additional priorities (percent respondents):
Protection/security (22 percent)Cost efficiency of data management (21 percent)Depth (20 percent)Collecting new information that isn't already collected (19 percent)Access (19 percent)
Top 5 obstacles to leveraging analytics (percent respondents)
Lack of understanding of how to use analytics to improve business (39 percent)Lack of management bandwidth due to competing priorities (34 percent)Lack of skills internally in the line of business (28 percent)Existing culture does not encourage sharing of information (24 percent)Ownership of data is unclear / governance is ineffective (23 percent)
Top 3 challenges in the next two years (percent respondents)
Innovating to achieve competitive differentiation (61 percent)Growing revenue (50 percent)Reducing costs and increasing efficiencies (46 percent)Profitably acquiring and retaining customers (45 percent)
Additional challenges (percent respondents)
Increasing operating speed and adaptability (35 percent)Managing regulatory compliance (14 percent)Managing risk or reducing fraud (10 percent)