Harnessing the Full Value of Your Data
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Transcript of Harnessing the Full Value of Your Data
All IDC research is © 2015 by IDC. All rights reserved. All IDC materials are licensed with IDC's permission and in no way does the use or publication of IDC research indicate IDC's endorsement of SAP’s products/or strategies.
AN IDC INFOGRAPHIC, SPONSORED BY SAP
Harnessing the Full Value of Data
Analytics technology: Still early days
Challenge: Many organizations arelimiting analysis because they
can’t make trusted data available.
Analytics have become easier to use and more responsive. It’s time to update
analytics to better meet user needs.
Businesses need to fully utilize data from a variety of sources to provide
a holistic view of their markets.
Many organizations are still struggling to use analytics effectively to optimize customer retention, financial
planning, marketing campaigns and other key functions.
Companies often use only a narrow slice of the available information for making decisions because they lack the
technology and expertise to fully harness big data.
Timely access is achievable: only 53% of organizations meet user requirements for it.
Transformation: predictive analytics have evolved
Embedded predictive analytics are now self-service, highly accessible, and can be run anytime, anywhere on a mobile device.
Data can be sourced from business
partners, social media, and the
Internet of Things as well as transactional
systems.
Data types come in a wide variety and includes audio files, documents, videos, maps, and images.
How pervasive is the use of business analytics technology and processes in your organization? 31% of organizations indicate widespread reliance on analytics
IT challenges hinder organizations from reaching better insight through widely available, granular data.
Training about performing and interpreting analysis, and reducing the barriers to using analytics is key.
of organizations with widespread use see ROI from analytics initiatives within 6 months
Major drivers for investment in analytics:
Top business analytics challenges to getting trusted data:
Top challenges for business analytics initiatives:
Data that goes unanalyzed (%of organizations)
Transactional data14%
Social media45%
Product/service improvement
49% Customer acquisition/retention
41%
Finance35%
67%
Data integration45%
satisfied with mobile access
38%satisfied with
predictive analytics
49%
feel IT can respond to user change requests
in a timely manner
45%53% satisfied with
ad-hoc query
53%
Lack of sufficient staff with appropriate analytics skills
45%
Securing budget39%
Agreeing on key performance indicators (KPIs)
36%
Managing data quality40% Managing data security
38%
Rich media45%
Web clickstream42%
Sensor data43%
For more, visit sap.com/accelerate-insight
However:
Data moves at different speeds from real-time to batch and must
be analyzed accordingly.