Irony in real life - Analytics benefits going unmeasured
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.