Advanced analytics enable organizations to gain insight from data and to better perform in fiercely competitive markets. Based on a survey of 170 IMA members from around the world, this report examines the extent to which leading-edge analytics have been implemented by organizations, the business case for analytics initiatives, and other issues surrounding implementation.
Key findings include:
- Organizations that have implemented leading-edge analytic techniques and technologies uniformly report improvement in their performance.
- For the vast majority of organizations, implementation of leading-edge analytics remains a work-in-progress— very few have completely implemented desired leading-edge analytic techniques and technologies.
- A key area in which analytics has the potential to deliver substantial benefits is strategy formulation and implementation.
- Adopting leading-edge analytic techniques and technologies can be especially difficult for mid-market firms.