Fast, fast and faster. Doesn’t it seem that life is moving so much faster than what it used to? Maybe it’s because I’m a mother of two kids under age four, but I’m pretty sure everyone must feel this way.
When I sit down to my to-do list every morning, I think to myself, “self, how could we get some of this stuff done faster so we could go work that fun pet project or enjoy more family time?” And every day, without fail, it’s the same answer: all I need is easier and faster access to data.
The prior year’s IBV data and analytics research has proven that a majority of organizations are using big data and analytics to create a competitive advantage. If most organizations are using analytics to improve customer interactions, optimize supply chains and reduce financial risk, then where does the advantage in today's marketplace come from?
Those that are able to acquire, analyze and act on data faster than their competitors will be the ones actually able to benefit the most from those efforts. Let’s just focus on the faster acquisition of data for a moment. A vast majority of companies are spending 70 percent of their time moving and storing data, leaving only 30 percent for actual analysis. What if we could reverse that equation?
Organizations are actively looking to do just that. They are establishing big data platforms to enable new analytic capability. They are streamlining their processes and enabling self-service capabilities to improve the time-to-value of data. They are looking to change their current data integration code approach so they are capable of building code that can run on any target state platforms.
These types of initiatives are drastically improving the IT economics of organizations, but more importantly, they are enabling people to get their to-do lists done more quickly, which translates into more value for the organization. Life is ramping up the volume, velocity and variety of data, and it is critical to keep up, while still effectively sorting and applying the information you need. Simply put, speed appears to be the solution.
Take IBV Analytics Survey today
We are back at our research again this year and the scope for 2014 will span the analytic competencies of data management, data analysis and organizational actions needed to understand the key drivers to value creation from the use of information and analytics.
In fall 2014 we will publish a comprehensive study based on the outcomes from a short survey, open for response today. The study will offer recommendations and practical actions that organizations can selectively and strategically take to optimize the time-to-value of analytics and to stay ahead of the game into today’s fast-paced digitized marketplace.
The online survey is available now—but only until August 1. If you are responsible for managing, using or analyzing data within your organization, take a few minutes to share your thoughts with us. In return, you will be one of the first to receive the research report based on your responses (along with your analytics colleagues) when it is published in fall 2014.
Every year we ask the question “where are we now?”
Take the survey at IBV 2014 Analytics Survey today and be a part of the answer.