SHARE

Study: Firms Lack Business Analytics Benefits

The data analysis enabled by business analytics and business intelligence software provides a critical competitive edge to firms. Yet a study indicates that enterprises don’t fully understand the importance of these key apps. Almost a third of technology executives and business professionals say they don’t know whether their organization uses business analytics or if their […]

Written By

Thor Olavsrud

Aug 27, 2010

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

The data analysis enabled by business analytics and business intelligence software provides a critical competitive edge to firms. Yet a study indicates that enterprises don’t fully understand the importance of these key apps.

Almost a third of technology executives and business professionals say they don’t know whether their organization uses business analytics or if their organizations have business analytics capabilities at all, according to new data from accounting and consulting giant Deloitte.

As a result, plenty of enterprises would seem to be missing out on the benefits of business intelligence and other analytical tools that enable them to leverage the massive amounts of data at their disposal to make better business decisions, optimize processes and pursue new opportunities.

John Lucker, a principal with Deloitte Consulting, leader of its Advanced Analytics and Modeling practice and one of the webcast presenters, called the finding “mind-boggling.”

“Organizations have ever more depth and breadth of information readily available within their grasp, and the technology and methods to extract and help synthesize the data are well proven,” Lucker said. “When you see the low levels of adoption, you have to ask the question, ‘Why aren’t more companies doing it?'”

Additionally, 17 percent of respondents ranked “customer segmentation and target marketing” as the second leading priority of implementing business analytics.

Read the rest at CIO Update.

Ethics and Artificial Intelligence: Driving Greater Equality

FEATURE | By James Maguire,
December 16, 2020
AI vs. Machine Learning vs. Deep Learning

FEATURE | By Cynthia Harvey,
December 11, 2020
Huawei’s AI Update: Things Are Moving Faster Than We Think

FEATURE | By Rob Enderle,
December 04, 2020
Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 18, 2020
Key Trends in Chatbots and RPA

FEATURE | By Guest Author,
November 10, 2020
Top 10 AIOps Companies

FEATURE | By Samuel Greengard,
November 05, 2020
What is Text Analysis?

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 02, 2020
How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 29, 2020
Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 23, 2020
The Super Moderator, or How IBM Project Debater Could Save Social Media

FEATURE | By Rob Enderle,
October 16, 2020
Top 10 Chatbot Platforms

FEATURE | By Cynthia Harvey,
October 07, 2020
Finding a Career Path in AI

ARTIFICIAL INTELLIGENCE | By Guest Author,
October 05, 2020
CIOs Discuss the Promise of AI and Data Science

FEATURE | By Guest Author,
September 25, 2020
Microsoft Is Building An AI Product That Could Predict The Future

FEATURE | By Rob Enderle,
September 25, 2020
Top 10 Machine Learning Companies 2021

FEATURE | By Cynthia Harvey,
September 22, 2020
NVIDIA and ARM: Massively Changing The AI Landscape

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
September 18, 2020
Continuous Intelligence: Expert Discussion [Video and Podcast]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 14, 2020
Artificial Intelligence: Governance and Ethics [Video]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 13, 2020
IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI

FEATURE | By Rob Enderle,
September 11, 2020
Artificial Intelligence: Perception vs. Reality

FEATURE | By James Maguire,
September 09, 2020

SEE ALL
APPLICATIONS ARTICLES

Thor Olavsrud

Thor Olavsrud is a journalist covering data analytics, security, infrastructure, and networking for CIO.com. He's especially interested in companies that use data to transform their business to tackle problems in innovative ways. As a senior writer, his articles focus on practical insights, analysis, and business use cases that can help CIOs and other IT leaders navigate the shifting IT landscape.

Study: Firms Lack Business Analytics Benefits

Thor Olavsrud

Recommended for you...

Company

Categories

Study: Firms Lack Business Analytics Benefits

RELATED NEWS AND ANALYSIS

Thor Olavsrud

Recommended for you...

Company

Categories