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CARY, NC (Aug. 24, 2011) - Business analytics has been effective in decision making for three of four enterprises, according to a Bloomberg Businessweek Research Services survey sponsored by SAS, the leader in business analytics. These organizations have benefited from increased profitability, reduced cost, improved risk management, process optimization, faster decision making or critical performance improvements.
Contrasted with a similar study two years ago, analytics deployment is now nearly pervasive in enterprises around the globe. Nearly 97 percent of respondents say their organizations have adopted business analytics, compared to 90 percent in 2009.
"This research reflects the growing interest of organizations around the world in greater insight and better, faster decisions through business analytics," said Jim Davis, SAS Senior Vice President and Chief Marketing Officer. "Some leading companies have already embraced business analytics and experienced the benefits of lower cost, improved profitability and reduced risk. Other organizations are just starting this journey of discovery."
According to survey results, companies gaining the most value from business analytics share several characteristics, including: a top-down embrace of analytics by senior leaders; putting the right analytic talent in place; improving data management and governance; deploying the right analytic tools; and operationalizing the results. ...
The research also found:
- Eighty-eight percent of respondents believe they either have the right analytic talent in place or recognize they need to augment their analytics resources.
- Cost reduction, increased profitability and better risk management are the three most important outcomes possible with business analytics.
- Strategy/planning, finance and marketing are the top three functional areas for business analytics.