Study: Most firms say business analytics boosts decision-making process
Most enterprises seek solutions to big issues with business analytics, per Bloomberg Businessweek survey sponsored by SAS
CARY, NC (Aug. 24, 2011) – Business analytics has been effective in decision making for three of four enterprises, according to a Bloomberg Businessweek Research Services survey sponsored by SAS, the leader in business analytics. These organizations have benefited from increased profitability, reduced cost, improved risk management, process optimization, faster decision making or critical performance improvements.
Contrasted with a similar study two years ago, analytics deployment is now nearly pervasive in enterprises around the globe. Nearly 97 percent of respondents say their organizations have adopted business analytics, compared to 90 percent in 2009.
"This research reflects the growing interest of organizations around the world in greater insight and better, faster decisions through business analytics," said Jim Davis, SAS Senior Vice President and Chief Marketing Officer. "Some leading companies have already embraced business analytics and experienced the benefits of lower cost, improved profitability and reduced risk. Other organizations are just starting this journey of discovery."
According to survey results, companies gaining the most value from business analytics share several characteristics, including: a top-down embrace of analytics by senior leaders; putting the right analytic talent in place; improving data management and governance; deploying the right analytic tools; and operationalizing the results.
"Buying a hammer means you can drive a nail, but to build a house you need plans, skills and commitment. It's the same for advanced analytics -- tools alone will only take you part of the way," said Davis. "Analytic-centered organizations have gained the most value from the technology."
The research also found:
The Bloomberg Businessweek Research Services report resulted from 930 responses to a global survey conducted across all industries in May. Approximately 30 percent of the respondents held a C-level tittle spread across a range of functional areas. The survey report is available here (registration required).
SAS hosts an online community, the Business Analytics Knowledge Exchange, to foster independent discussion on the latest business analytics trends and best practices. Industry experts frequently contribute their research and philosophies for solving real-world problems through business analytics technologies to the site.
SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions delivered within an integrated framework, SAS helps customers at more than 50,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world
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