How Analytics Separates the Best From the Rest

How Analytics Separates the Best From the Rest

How Analytics Separates the Best From the Rest

Data points now come fast and furious at organizations, and IT execs at top companies are expected to use analytics to gain a competitive edge.

Core Component

54% of surveyed execs at organizations considered “the best” at deploying analytics said their analytics strategy is well established and central to their overall business strategy, compared to about one in 10 execs at remaining companies which claim the same.

Required Action

51% of execs at “best” companies said they “always” use analytics to guide strategic and tactical decisions/actions, while only 19% of those at remaining organizations do this.

Market Advantage

All execs at “best” organizations said data analytics has impacted their company’s ability to meet competitive challenges beyond a moderate degree, as opposed to only 17% of execs at remaining organizations who said this has happened.

Group Effort

56% at “best” companies said they have enterprise-, department- and lines-of-business data and analytics groups and they are well aligned, but just 13% of execs at remaining organizations make the same claim.

Well Equipped

47% at “best” organizations said their analytics tools and tech are well established and updated regularly, while just 14% of those at remaining companies say this is the case.

Can-Do Spirit

74% at “best” companies allow their employees either “some” or “complete” latitude to act upon opportunities discovered through data analytics, as opposed to 58% of execs at remaining organizations which allow this.

Lead Role

64% at “best” companies have appointed a chief analytics officer to lead data analytics initiatives, compared to 40% of execs at remaining organizations which have done this.

Top Information Management/Tech Skills Sought by “Best” Organizations

Data extraction and transformation: 58%, Data quality and profiling: 56%, Data architecture: 54%, Data governance: 46%, Big data platform oversight: 46%

Incentive Plan, Part I

58% of execs at “best” organizations give team members rewards for providing new recommendations derived from data/analytics insights, while only 32% of those at remaining businesses do the same.

Incentive Plan, Part II

42% of those at “best” companies provide greater opportunities for promotion/advancement for these team members, but only 32% of those at remaining organizations say this happens.