Dell Services Research Underscores Business Benefits of Advanced Analytics
Competitive advantages noted; awareness and maturity levels for analytics growing.
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Dell Digital Business Services and the International Institute for Analytics (IIA) have released research assessing the maturity of midsize and large enterprises to implement analytics solutions. The results underscore the important role analytics and big data play in enterprise operations, business processes, and how analytics is helping to speed up many business decision-making procedures. The report is the second of the annual research originally conducted in 2014, allowing year-over-year comparison.
Adoption Rates and Awareness of Benefits of Advanced Analytics Increased Year-Over-Year
Business leaders are looking for new ways to employ advanced analytics to help make better, more informed business decisions and ultimately, gain a competitive advantage.
With the increased awareness of the benefits of analytics, firms that have implemented or are currently implementing analytics are also willing to invest more to further the success of their programs.
- Approximately half (49 percent) of all business and IT decision makers surveyed anticipate gaining a competitive advantage in the future due to successful data mining (up from 38 percent in 2014)
- Thirty-eight percent of respondents (up from 30 percent in 2014) believe that advanced analytics plays a critical role in their operations in 2015
- Forty percent of business decision makers are more likely to agree that they could gain a competitive advantage using advanced analytics than a year earlier (up from 28 percent in 2014)
- Seventy percent (up from 63 percent) of enterprise firms reported being more likely to invest more than $500,000 on analytics solutions in 2015
Awareness, Maturity Levels for Analytics in Healthcare, Midmarket Gaining Traction
For the first time this year, the report took a closer look at the healthcare industry. The report shows high awareness of strategic importance and maturity of advanced analytics in this vertical: nearly 9 out of 10 healthcare firm decision makers believe that advanced analytics is an important part of their business strategy and 65 percent of respondents rated their firm’s analytical maturity as “high” or “highest.”
Much like the other organizations surveyed, healthcare respondents mentioned that a chief information officer most frequently drives the assessment and development of their firm’s analytical capabilities. More than three in every five healthcare organizations reported that they use insurance claims and demographics data most often to augment their analytics data.
The report also shows that the gap between medium and large enterprises is closing fast with both large and medium-sized organizations stating that their perceived maturity levels have risen year-over-year. However, the rise was more significant in the midmarket with firms perceiving their maturity level as “high” jumping from 29 percent in 2014 to 46 percent in 2015.
To learn more about the research results, visit enterpriseservices.dell.com/international-institute-for-analytics.