Improving operational efficiency is the top application of business analytics
One-third of technology executives and business professionals are unware if their organisation utilised business analytics or had capabilities for business analytics, according to a new webcast poll conducted by Deloitte.
In the survey conducted with more than 1,900 technology executives and business professionals, 33% of the respondent did not know if their organisation utilised business analytics, or even if they had business analytics capabilities at all.
According to the poll, 40% of the respondents cited improving operational efficiency as the top application of business analytics, while customer segmentation and target marketing (17%) was ranked as second leading priority application of business analytics.
Deloitte Consulting principal John Lucker said that these responses clearly show that, although organisations understand the value of business analytics, most are still struggling with fundamental technical and business process foundations that will allow their organisation to implement and use business analytics in a strategic and sustainable way.
"That emerging understanding and pent up demand is why these types of investments are going to continue to explode and the demand for business analytics capabilities will continue to increase in the coming months and years," Lucker said.
Departmentally siloed information and limited cross functional interaction are the major issues in data management, business intelligence and business analytics, the online poll revealed.