According to Gartner, pervasive business intelligence remains elusive, with organizational BI and analytics adoption hovering at about 30% of all employees. A Harvard Business Review Analytic Services (HBR AS) survey of more than 700 business leaders recently confirmed a similar percentage (27%).
With data and analytics being key to driving new business models, better customer experiences, and overall digital transformation, why are most employees failing to use data and analytics to their advantage?
The HBR AS survey referenced above reports that the most significant organizational barriers to greater company-wide analytics adoption are:
- Organizational silos
- Legacy processes
- Lack of digital or data analytics skills
- Resistance to change
- Current organizational structure impeding transformation efforts
On the technology side, the biggest barriers cited are:
- Legacy software/hardware systems and infrastructure
- Lack of a centralized platform or system for capturing and analyzing data
- Data silos
- Data consistency issues
- Current systems/solutions are too complex/not user friendly
For analytics to be used more widely and often across the organization, it’s clear that businesses need to make it easier. In the MicroStrategy Global State of Enterprise Analytics Report, business professionals said the top three things that would help are:
- Analytics embedded intro popular business apps (e.g. email and Salesforce)
- Visual displays of analytics on screens in the office
- Personalized distribution of analytics to any device
The Time to Empower Employees is Now
As we’ve seen in this year’s business headlines, not even the longest-standing or best-known brands are safe from digital disruption—and data-driven organizations are beginning to show a clear advantage when it comes to survival.
According to the McKinsey Global Institute, data-driven organizations are 23 times more likely to acquire customers, six times as likely to retain customers, and 19 times as likely to be profitable as a result. Forrester delivers an equally impressive statistic: insights-driven businesses are growing at an average of more than 30% each year, and by 2020, will take $1.8 trillion annually from their less-informed peers.
According to BHEF and PwC America’s Data Science and Analytics Talent: The Case for Action, by 2020, 59% of employers say data science and analytics skills will be required of all finance and accounting managers; 51% say these skills will be required by all marketing and sales managers; 49% say they will be required of all executive leaders; and 48% say they will be required of all operations managers.
With just one more year until 2020, there’s no time to wait.
Ready to increase your organization's data and analytics use in 2019? Join us as we unveil HyperIntelligence, the biggest breakthrough in enterprise analytics since MicroStrategy Mobile. Learn more today!