Top-performing enterprises are increasingly depending upon analytics tools to shape future direction and address day-to-day needs, according to a report, "Analytics: The New Path to Value," from the IBM Institute for Business Value and the MIT Sloan Management Review. Unfortunately, CIOs and other top executives who are attempting to leverage such tools often face pushback due to company culture. There's a lack of understanding about how to use analytics , and, too often, departments are discouraged from sharing information. These obstacles, however, are not stopping CIOs and other key decision-makers from pursuing the increased use of analytics throughout all levels of their organizations. "The correlation between performance and analytics-driven management has important implications for organizations whether they are seeking growth, efficiency or competitive differentiation," says Fred Balboni, global leader of business analytics and optimization services for IBM. "When organizations use analytics to tackle their biggest challenges, they are able to overcome seemingly intractable challenges." Nearly 3,000 executives and business analysts from 108 countries and 30 industries took part in the survey that forms the basis of this report. Here are selected highlights:
50 percent of respondents say that improving information/analytics capability is a top priority.
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