For 60 per cent of employees, it takes hours or days to get the information they need, while only 3 per cent can find information in seconds
TYSONS CORNER, Va. – MicroStrategy® Incorporated (Nasdaq: MSTR), a leading worldwide provider of enterprise analytics and mobility software, released the results of its “2020 Global State of Enterprise Analytics” report revealing that, despite 94 per cent of organisations believing data and analytics is important to their digital transformation and business growth, most are not enabling a data-driven culture.
Below are the top findings of the report:
- Compared to executives and management employees, front-line employees are data-deprived and have the least access to data and analytics. The contrast between the data-privileged and the data-deprived is most pronounced in the financial services industry, with just 11 per cent of front-line employees getting access to analytics reports.
- For 60 per cent of employees, it takes hours or days to get the information they need, while only 3 per cent can find information in seconds.
- When those who aren’t adept at analytics need to make a data-driven decision, 79 per cent have to ask IT or a business analyst for help. Only 7 per cent use a self-service tool.
- Investments in analytics initiatives, namely talent and technology, are increasing. 75 per cent of large enterprises and 59 per cent of smaller companies (less than 1,000 employees) say they will invest more in talent. 79 per cent of large enterprises and 60 per cent of smaller companies say they will invest more in technology.
“Shockingly, when it comes to making data-driven decisions, the majority of the workforce is still winging it,” said Lesley French, general manager, Australia and New Zealand, MicroStrategy Incorporated. “With self-service analytics adoption hovering at 30 per cent, organisations need to surface insights in a timely manner that benefits the entire workforce. We see similar trends in Australia, and recommend those investments go toward building an insights-first culture that rewards data-driven decision-making and continuous transformation—the essential foundation of an Intelligent Enterprise™.”
Survey respondents who have embraced the use of data and analytics report benefits such as improved efficiency and productivity, faster and more effective decision making and better financial performance. Retail and healthcare industries are leading the charge in this area, using analytics to identify and create new product and revenue streams.
Recommendations for next-generation success
- Think open and embrace a multi-tool environment. It’s no longer realistic to think that a single tool is going to serve all of an organisation’s needs or cater to varying users’ capability levels. Therefore, organisations should consider an open platform approach to enterprise analytics that ensures a secure, governed, scalable, high-performance environment. This openness allows other tools to tap into trusted enterprise data, blend information from multiple systems, and quickly build content—without users having to give up their favourite data sciences, AI, and self-service BI tools.
- Seek to enable every person, process, application, and device. Countless decisions happen every day across organisations, so it comes to reason that insights must be accessible in seconds. Tools, applications, and services should match each user’s abilities. To that end, organisations should seek to enable everyone with self-evident insights that appear in the mobile apps, screens, products, and business applications people use every day.
- Start with trusted data and enrich it to gain insights. To truly thrive in the next generation of analytics, users need governed, trusted enterprise data assets and systems that improve with use. By incorporating a semantic layer that learns over time, organisations can open the way to a new class of AI-driven applications and experiences by layering their data with system usage, location, and telemetry data. This effectively turns each user into a contributor of insights, fuelling a feedback loop that helps make the organisation collectively smarter over time.
Notes to the editor: To obtain a global and cross-industry view of the state and future of data and enterprise analytics use, MicroStrategy surveyed 500 business intelligence and analytics professionals across Brazil, Germany, Japan, the United Kingdom and the United States in Q2 2019. The respondents represent 10 industry segments (financial services, government, healthcare, hospitality, manufacturing, retail, software tech, professional services, telecommunications and other), with the majority employed at an organisations with more than $100 million in annual revenue. For the second year, the survey was conducted for MicroStrategy by market research firm Hall & Partners.
- Download the “2020 Global State of Enterprise Analytics” report.
- Register for the 2020 Global State of Enterprise Analytics Reveal webcast taking place at 2:00 p.m. EDT on October 30, 2019.
About MicroStrategy Incorporated
MicroStrategy (Nasdaq: MSTR) is a leading worldwide provider of enterprise analytics and mobility software and services. Our mission is to make every enterprise a more Intelligent Enterprise. MicroStrategy 2019™ delivers modern analytics on an open, comprehensive enterprise platform designed to drive business results with Federated Analytics, Transformational Mobility, and HyperIntelligence™. To learn more, visit MicroStrategy online, and follow us on LinkedIn, Twitter, and Facebook.
MicroStrategy, Intelligent Enterprise, MicroStrategy 2019, and HyperIntelligence are either trademarks or registered trademarks of MicroStrategy Incorporated in the United States and certain other countries. Other product and company names mentioned herein may be the trademarks of their respective owners.