Business Intelligence

Irony in real life – Analytics benefits going unmeasured

arun

A third of organizations do not know how to effectively measure the benefits of business analytics projects. The lack of effective measurement methodologies is stalling enterprises from reaping the full advantage of their IT investment. It may also be holding back widespread deployment of analytics solutions.

As enterprises try to become more agile, there is growing
interest in analytics. An
IDC
survey of 6,400 end-users has surprisingly found
that a third of organizations do not know how to effectively
measure the benefits of business analytics projects.

The problem is not uniform across the sectors. Firms in
tech-savvy industries such as communications and media, securities
and investments, and insurance seem to be measuring benefits better
than businesses in education, process manufacturing, and
utilities

The lack of effective measurement methodologies is stalling
enterprises from reaping the full advantage of their IT investment.
It may also be holding back widespread deployment of analytics
solutions.

“There are substantial opportunities across company size
segments for more pervasive deployment of business analytics
solutions within most companies,” said Monika Kumar, program
director, IDC Vertical Markets.

IDC says vendors need to apply analytics on the business
analytics projects to ensure that BI groups are able to clearly
articulate the benefits to their constituents.

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