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December 18, 2014

Advanced analytics adoption on the rise

70% of businesses have already deployed analytics.

By CBR Staff Writer

The adoption of advanced analytics is reaching an inflection point in both mid-market organisations and large enterprises, with over 70% deploying or planning to use analytics in everyday decision-making, new Dell Services research has revealed.

As part of the survey carried out by the International Institute for Analytics (IIA), over two-thirds of IT departments rated advanced analytics as either the core of their business’s strategic vision, or as a vital element of strategy.

Only 5% of early adopters consider that they have achieved advanced analytical maturity.

Dell Digital Business Services executive director and global head Raman Sapra said: "This study indicates that customers believe advanced analytics offers significant business benefits and continued investments can help advance business maturity levels."

"Companies and leaders across industries are at a tipping point. We’re seeing our customers place a higher priority on using advanced analytics to execute on their digital business models."

"Ultimately, business leaders want to develop digital business models that enable them to attract, serve, and retain customers in the digital era. Advanced analytics provides that actionable insight that enables their transformation."

In addition to revealing the role of advanced analytics in their operations, respondents further anticipated that successful data mining would give a competitive advantage in the future.

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Two-thirds of survey respondents opposed that analytics is just a trend, with respondents deploying advanced analytics for a range of operations.

50% of respondents used advanced analytics for their firm’s financial performance forecasting, with four-in-ten using them for a range of tasks involving customer recruitment, retention, loyalty programs and product usage habits.

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