Advanced Analytics Arises Across the Enterprise

By Michael Vizard  |  Posted 08-15-2013

Advanced Analytics Arises Across the Enterprise

A Surge in Advanced Analytics Interest in advanced analytics over the last three years is way up: Predictive analytics: 33%, Retrospective: 29%, Both predictive analytics and retrospective equally: 28%, Don't Know: 10%

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Analytics by Functional Area The usage of advanced analytics is fairly broad. Finance: 59%, Customer service: 55%, Production and operations: 54%, Sales: 49%, IT and telcoms: 46%

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Factors Driving Advanced Analytics Adoption The majority of use cases involve customer relationships. Customer retention and acquisition: 69%, New market entry: 66%, New product and service development: 66%, Competitor performance and activity: 65%, Customer experience: 60%

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

The Trouble With Data Data quality issues continue to rear their ugly head. Two in five executives believe their current analytics programs are able to identify actionable data. Half are concerned about the accuracy of the data.

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Data as a Source of Inspiration The number of people relying on data to a great extent will double in the next three years: To a moderate extent: 44%, To a great extent: 25%, To a minor extent: 18%, Not at all: 13%

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Senior Leadership Involvement Seven in 10 say senior leadership is engaged with analytics. Nearly the same number report having a chief data officer or the equivalent.

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Source of Analytics Talent There's a lot of self-reliance when it comes to analytics. Self: 65%, Analysts in department: 62%, Centralized analysis: 48%, External consultants: 59%

Advanced Analytics Arises Across the Enterprise

Advanced Analytics Arises Across the Enterprise

Analytics Winners and Strivers More than half are satisfied, which suggests there is some work to be done. Very satisfied: 22%, Quite satisfied: 35%, Not very satisfied: 16%, Not at all Satisfied - 18%, Don't Know - 9%

Advanced Analytics Arises Across the Enterprise