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The future of data, analytics and business intelligence lies in achieving actual, measurable value.
18 February 2022
The big data, analytics and business intelligence (BI) conversations have changed. They’ve moved on from asking what the business can do with its data, towards how the business can extract real value from this data and the solutions that surround it – BI and analytics. The result is a shift in how organisations approach the implementation of solutions as they look for ways in which they can leverage technology to squeeze value from the right data at the right time. However, there are still challenges limiting how well companies extract, use and manage their data.
Today, most companies are struggling to find the value in their data, analytics and BI investments because they lack strategy, cohesion and culture. The NewVantage Partners, Big Data and AI Executive Survey 2021, found that less than half of companies found success when it came to driving innovation with data (48.5%), competing with analytics (41.2%), and managing data as a business asset (39.3%). They have also fallen at the hurdles of building a data culture (24.4%) within a data-driven organisation (24%). In short, companies want more from their data investments, but they aren’t finding routes through existing complexities to help them do so.
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