Majority of firms say their analytics tools fall short
A majority of organizations are finding shortcomings in the data analytics products they’re using, with nearly 70 percent encountering behavioral questions on a regular basis that they could not answer using their current tools, according to new research from Interana, a provider of interactive analytics technology.
The company surveyed nearly 200 business and IT professionals, and found that nearly one third cited slow query speeds as one of their top analytics pain points, with 73 percent indicating that it takes days to weeks to get the behavioral data insights they need.
Flexibility was another major concern, with nearly half of respondents (43 percent) saying their current analytics tools are not flexible enough to meet their needs.
While the majority of companies (88 percent) understand the importance of being data-informed and having an analytics product in place, many struggle when it comes to delivering analytics solutions that are accessible, fast, and flexible enough to give them the insights they need.
The heaviest analytics consumers are in product management (20 percent), engineering and product development (20 percent), and marketing (16 percent. But the technology can be found in almost every standard department, the report said.
Most analytics users are in a management or strategic decision-making role in some capacity (76 percent). While many of the organizations surveyed reported actively using analytics solutions, 62 percent of respondents claimed that only a select few people within their organization are equipped with the right tools or knowledge to make data-informed decisions.