Most organizations fail at fostering a data-driven culture
A large majority of organizations acknowledge that data and analytics are important to their digital transformation and business growth, but most are not enabling a data-driven culture, according to new research from MicroStrategy.
The enterprise analytics and mobility software company surveyed 500 business intelligence and analytics professionals in the U.S., Brazil, Germany, Japan and the U.K. earlier this year, and the results showed that although 94 percent of organizations consider data and analytics important to their transformation and growth, a large number are failing to create data-driven cultures.
Compared with executives and management employees, front-line employees are data-deprived and have the least access to data and analytics, the report said. The contrast between the data-privileged and the data-deprived is most pronounced in the financial services industry, with only 11 percent of front-line employees getting access to analytics reports, according to the survey.
For many employees, it takes hours or days to get the information they need, while only 3 percent can find information in seconds. When those who aren’t adept at analytics need to make a data-driven decision, 79 percent have to ask IT or a business analyst for help. Only 7 percent say they are able to use a self-service tool.
Investments in analytics initiatives, including talent and technology, are increasing. Some 75 percent of large enterprises and 59 percent of smaller ones said they will invest more in talent. Some 79 percent of large enterprises and 60 percent of smaller organizations said they will invest more in technology.