MicroStrategy® Incorporated (Nasdaq: MSTR), a worldwide provider of enterprise analytics and mobility software, today released the results of its “2020 Global State of Enterprise Analytics” report revealing that, despite 94% of organizations believing data and analytics is important to their digital transformation and business growth, most are not enabling a data-driven culture.
Below are the top findings of the report:
Compared to executives and management employees, front-line employees are data-deprived and have the least access to data and analytics. The contrast between the data-privileged and the data-deprived is most pronounced in the financial services industry, with just 11% of front-line employees getting access to analytics reports.
For 60% of employees, it takes hours or days to get the information they need, while only 3% can find information in seconds.
When those who aren´t adept at analytics need to make a data-driven decision, 79% have to ask IT or a business analyst for help. Only 7% use a self-service tool.
Investments in analytics initiatives, namely talent and technology, are increasing. Seventy-five percent of large enterprises and 59% of smaller companies (<1,000 employees) say they will invest more in talent. Seventy-nine percent of large enterprises and 60% of smaller companies say they will invest more in technology. Survey respondents who have embraced the use of data and analytics report benefits such as improved efficiency and productivity, faster and more effective decision making and better financial performance. Retail and healthcare industries are the charge in this area, using analytics to identify and create new product and revenue streams. MicroStrategy (Nasdaq: MSTR) is a worldwide provider of enterprise analytics and mobility software and services. To learn more, visit MicroStrategy online.