IT Is Missing Real-Time Data Analytics Opportunities
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IT Is Missing Real-Time Data Analytics Opportunities
By Dennis McCafferty -
Existing Problem
97% of surveyed organization decision makers said they are challenged by the data they have. -
Tech Issue
Just 26% of those surveyed said their IT department supports their need for the real-time analysis of data. -
Losing Faith
Only one out of five are confident in the reliability, accuracy and completeness of their data. -
Underutilized Asset
68% said their organization cannot use real-time data, and 61% said they can't mine it. Meanwhile, 57% said they can't act upon it. -
Time Consideration
87% said it's important to make operational decisions swiftly, but 85% still experience issues in attempting to do so because they can't use their data quickly enough. -
Fallout Factor: Market Loss
41% said they risk missed revenue opportunities because they can't make operational decisions in a timely fashion. -
Fallout Factor: Faulty Conclusion
37% said they can encounter poor decision making when operational decisions are delayed. -
Fallout Factor: Fuzzy Forecast
27% said they hurt their ability to predict future patterns when they can't make operational decisions quickly enough. -
20/20
74% said that obtaining greater visibility over internal processes could lead to operational improvements.
The vast majority of organizational decision makers are challenged by data issues, and very few believe their IT department is adequately supporting their need for real-time data analytics, according to a recent survey from Software AG. On the positive side, companies are increasing their data spend, with 23% in additional budgeting anticipated by 2016. However, organizations continue to struggle to rapidly take advantage of data to make effective, strategic decisions, findings show. Most can't act upon data in real-time or make use of it. As a result, they're missing out on revenue opportunities and falling short on predicting future, impactful trends. "In order to stay ahead of the competition, organizations have no choice but to continually identify ways to make smarter decisions and provide better services," said John Bates, chief marketing officer at Software AG. "Properly collecting, analyzing and making decisions based on real-time data is key to proactively preventing issues and improving procedures." An estimated 750 global organizational decision makers took part in the research, which was conducted by Vanson Bourne.