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Data Science Platforms Help Insight Leaders Outperform Competition

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by Angela Guess

According to a recent press release, “DataScience, Inc. today announced the results of a commissioned study, ‘Data Science Platforms Help Companies Turn Data Into Business Value,’ conducted by Forrester Consulting on behalf of DataScience. The study identified a minority of firms (22%) that were ‘Insights Leaders,’ companies that embed analytics and data science into their operating models to bring insights — actionable knowledge resulting from analytical models and algorithms — into every decision. These companies were found to be two times more likely to be in a market-leading position in their industries than ‘The Pack’ or ‘Insights Laggards,’ the other two groups evaluated. Leaders were found to have significantly higher revenue growth and profits that exceed company and shareholder expectations. For this group, data science and data science platforms were found to be a primary focus and competitive advantage.”

The release goes on, “Forrester conducted an online survey and in depth interviews with over 200 decision makers in business/customer insights, data science, and data engineering roles at enterprises in the United States. Key findings from the study include: Insights Leaders use data science for competitive advantage: With bigger budgets for advanced analytics capabilities, Leaders are making data science an integral part of their business roadmap. For example, 62% of Insight Leaders have a data science development plan in place compared to only 29% of The Pack and 28% of Laggards. Insights Leaders tend to be small, agile disruptors: Smaller companies are most likely to be Insights Leaders, with 53% of the companies surveyed falling into the 1,000-4,999 employee range, compared to just 33% in the 5,000 to 9,999 range, and 13% in companies with 10,000+ employees.”

Read more at Marketwired.

Photo credit: DataScience Inc

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