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Report: Interest in advanced analytics continues to rise

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In its “2012 Business Intelligence, Analytics and Information Management Survey,” InformationWeek Reports found that interest in analytics in general, and advanced statistical and predictive analytics in particular, rose for the third year in a row.

The survey garnered data from 542 IT professionals.

The research showed that 73 percent of the IT pros surveyed say the desire to optimize business operations drives advanced analytics use, and 34 percent cite gaining competitive intelligence as goal of social media/social network analysis technologies.

Of those surveyed who use or plan to deploy BI, data analytics or statistical analysis software, 58 percent say they are very or extremely interested in advanced analytics. It came it at No. 1 among a dozen leading-edge technologies offered.

Other findings: 55 percent say the possibility of lower costs is driving their interest in software-as-a-service/cloud-computing-based BI/analytics; however, 63 percent have data security/privacy concerns. Another 46 percent cite data quality problems as the top barrier to adopting BI/analytics products enterprise-wide; just 9 percent say they have lower than expected analytic value.

Some 25 percent report they use mobile (smartphone- or tablet-based) dashboards/data visualizations to share BI/analytic insights, and 8 percent give every employee access to BI/analytics.

The report’s author, Doug Henschen, is executive editor of InformationWeek, where he covers the intersection of enterprise applications with information management, business intelligence and analytics.

“Information management continues to be a challenge for our respondents,” says Lorna Garey, content director of InformationWeek Reports. “In both this survey and our 2010 poll, 59 percent said employees have trouble accessing relevant, timely or reliable data. And this year, 40 percent say they’re having trouble coping with rapidly increasing volumes of data and/or content, up 10 points from 2010.”

For more, visit: http://reports.informationweek.com.

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UPCOMING ANALYTICS EVENTS

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Foundations of Modern Predictive Analytics
Oct. 2-3, VT Executive Briefing Center, Arlington, Va.

2017 INFORMS Annual Meeting
October 22-25, 2017, Houston

2017 Winter Simulation Conference (WSC 2017)
Dec. 3-6, 2017, Las Vegas

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