Following the Analytics Investment Trail
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The Analytics Gap
72% of CIOs surveyed are showing interest in assessing and developing analytics capabilities, but only 32% of CEOs express interest. -
Primary Advanced Analytics Stakeholders
CIOs, line-of-business units and analytics staff top the list. External consultant and CEOs were neck-and-neck for fourth place. -
Advanced Analytics Spending Plans
Two-thirds of midmarket organizations (66%) plan to invest $100,000 or more. Almost an equal percentage (63%) of enterprises intend to invest $500,000 or more. -
Big Data Investments
57% are either in the process or implementing a big data platform or have identified a need; 23% said they already have a system in place. -
Actual Usage of Analytics
A full 71% said they either are actively using, or have near-term plans to use, simple forms of analytics. Yet only one in five are using advanced analytics in conjunction with big data. -
Attitudes Toward Big Data
54% said big data is not a fad; 40% said big data generates enough ROI to make investing worthwhile. -
Strategic Value of Analytics
98% of companies that have invested in developing an analytics program said it's a strategic investment. Almost a quarter (23%) of them said it's the essence of their strategic vision. -
Return on Analytics Investment
38% expect to gain a competitive advantage in investing in analytics. Only 2% see no benefit. -
Level of Analytics Maturity
Just over half (57%) rate their maturity as medium or low. Only 5% of adopters believe they have achieved the highest level of analytical maturity.
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Why Metrics Matter to the Channel Most spending on analytics is driven by CIOs, line-of-business executives and dedicated analyst staff, rather than a mandate from the corporate board, according to a new survey of 137 business and IT executives conducted by International Institute for Analytics on behalf of Dell. Although there is already significant reliance on relatively simple forms of analytics, investment in big data platforms to drive advanced analytics applications is still relatively immature, respondents said. "While a well-developed analytics program is perceived to be strategically important, most indicate there is still room for them to advance their firm's maturity level. … Not surprisingly, enterprise organizations perceive their maturity level to be a bit higher than midmarket firms do," the report said. The study points to a correlation between the degree of maturity and having more senior-level executives involved in developing their analytics programs. The good news is that the number of organizations and the amount of money spent on analytics overall will increase considerably in the year ahead.