Share with your friends










Submit

Analytics Magazine

Survey: Business analytics pervasive, effective on a global scale

Headlines

Business analytics has been effective in decision-making for three of four enterprises, according to a Bloomberg Businessweek Research Services survey sponsored by SAS. These organizations have benefited from increased profitability, reduced cost, improved risk management, process optimization, faster decision-making or critical performance improvements.

Contrasted with a similar study two years ago, analytics deployment is now nearly pervasive in enterprises around the globe. Nearly 97 percent of respondents say their organizations have adopted business analytics, compared to 90 percent in 2009.

“This research reflects the growing interest of organizations around the world in greater insight and better, faster decisions through business analytics,” says Jim Davis, SAS senior vice president and chief marketing officer. “Some leading companies have already embraced business analytics and experienced the benefits of lower cost, improved profitability and reduced risk. Other organizations are just starting this journey of discovery.”

According to survey results, companies gaining the most value from business analytics share several characteristics, including: a top-down embrace of analytics by senior leaders; putting the right analytic talent in place; improving data management and governance; deploying the right analytic tools; and “operationalizing” the results.

“Buying a hammer means you can drive a nail, but to build a house you need plans, skills and commitment. It’s the same for advanced analytics – tools alone will only take you part of the way,” Davis adds. “Analytic-centered organizations have gained the most value from the technology.”

The research also found:

  • Eighty-eight percent of respondents believe they either have the right analytic talent in place or recognize they need to augment their analytics resources.
  • Cost reduction, increased profitability and better risk management are the three most important outcomes possible with business analytics.
  • Strategy/planning, finance and marketing are the top three functional areas for business analytics.

The Bloomberg Businessweek Research Services report resulted from 930 global surveys conducted across all industries in May. Approximately 30 percent of the respondents held a C-level title spread across a range of functional areas. To see the complete report, “The Current State of Business Analytics: Where Do We Go From Here?,” click here (registration required).

Related Posts

  • 37
    May/June 2012 By John Toczek Workforce management is central to efficient operations and good customer service. Proper scheduling of employees can mean the difference between profitability and business failure. As the manager of a Popsicle stand, you are required to hire and set the weekly work schedule for your employees.…
    Tags: business, analytics, management, risk, profitability, cost
  • 31
    The Virginia Department of Medical Assistance Services (DMAS) speeds medical care to citizens in need by analyzing massive amounts of data using SAS Analytics. More and more, that care involves treating opioid addiction.
    Tags: sas, services, analytics
  • 31
    Trilce Encarnación, who is pursuing a Ph.D. in transportation engineering at the Rensselaer Polytechnic Institute, was named the winner of the Student Analytical Scholar Competition sponsored by the Analytics Society of INFORMS and supported by SAS.
    Tags: analytics, sas, business
  • 30
    Business analytics company SAS has endorsed the new “Vital Signs” reports that offer state-by-state recommendations on strengthening K-12 math and science to prepare students to compete globally. SAS CEO and founder Jim Goodnight urged state leaders to resist political pressure to lower expectations.
    Tags: sas, business, analytics, lower

Analytics Blog

Electoral College put to the math test


With the campaign two months behind us and the inauguration of Donald Trump two days away, isn’t it time to put the 2016 U.S. presidential election to bed and focus on issues that have yet to be decided? Of course not.


Headlines

Gaining distribution in small retail formats brings big payoffs

Small retail formats with limited assortments such as Save-A-Lot and Aldi and neighborhood stores like Target Express have been growing in popularity in the United States and around the world. For brands, the limited assortments mean greater competition for shelf-space, raising the question of whether it is worth expending marketing effort and slotting allowances to get on to their shelves. According to a forthcoming study in a leading INFORMS scholarly marketing journal, Marketing Science, the answer is “yes.” Read more →

Cognitive computing a disruptive force, but are CMOs ready?

While marketing and sales professionals increasingly find themselves drowning in data, a new IBM study finds that 64 percent of surveyed CMOs and sales leaders believe their industries will be ready to adopt cognitive technologies in the next three years. However, despite this stated readiness, the study finds that only 24 percent of those surveyed believe they have strategy in place to implement these technologies today. Read more →

How weather can impact consumer purchase response to mobile ads

Among the many factors that impact digital marketing and online advertising strategy, a new study in the INFORMS journal Marketing Science provides insight to a growing trend among firms and big brands: weather-based advertising. According to the study, certain weather conditions are more amenable for consumer responses to mobile marketing efforts, while the tone of the ad content can either help or hurt such response depending on the current local weather. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

Essential Practice Skills for High-Impact Analytics Projects
Sept. 26-27, Executive Conference Center, Arlington, Va.

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

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.