A new press release reports, “MicroStrategy® Incorporated, a leading worldwide provider of enterprise analytics and mobility software, today released the results of its ‘2018 Global State of Enterprise Analytics’ report. MicroStrategy surveyed 500 enterprise analytics and business intelligence professionals from around the world on the state of their organizations’ analytics initiatives. 90% of respondents reported that data and analytics are either very important or somewhat important to their organizations’ digital transformation efforts, and that their investments in data and analytics this year and in the next five years are accelerating.”
The release goes on, “The data shows that while many analytics and business intelligence professionals are confident about their organizations’ analytics proficiency in 2018, they still face common challenges that hinder their ability to become an Intelligent Enterprise™. MicroStrategy also found that the top uses for data and analytics are to drive process, cost efficiency, strategy and change, and that when selecting an enterprise analytics solution, security stands out as a top concern for decision makers across the board.”
It continues, “Top findings in the report include: (1) More and better data is the path to creating a competitive advantage for future success. Organizations are not only using data to improve core operations, but also to transform customer experiences and create new business models. Data-driven organizations around the globe report that the top two benefits of their analytics initiatives are improved efficiency and productivity (63%), as well as faster, more effective decision making (57%). (2) The role of Chief Data Officer is increasingly important. More than half of the surveyed organizations (57%) have a Chief Data Officer, and this role could be pivotal in helping to democratize data and analytics across the organization. According to this year’s survey, while 84% of management teams have access to their organizations’ data and analytics, 48% of the organizations’ front-line employees do not, which hinders real-time decision making and ultimately the bottom line.”
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Photo credit: MicroStrategy