Why is it so hard to gain insight?
If you’re finding that it takes too long to get meaningful reports and analysis from your data, you’re not alone.
Data Intensity recently conducted a survey of over 200 companies (212 to be precise) to gauge the current state of data analytics and to understand what hurdles enterprises have yet to overcome. What we found were frustrated users — 63% of B2B companies polled were stymied by the amount of time it takes to attain the meaningful reports and data insights they need in order to make more informed business decisions.
- Here are some other disconcerting findings:
Despite significant enterprise spending on analytics, Obtaining meaningful value from business data is a major obstacle
- More than six out of ten (63%) of respondents said the greatest problem with analytics is that it takes too long to get meaningful reports and analysis from their data
- One in three (33%) said data is not accurate, and it’s too difficult to make strategic and operational business decisions from. In addition, they found it too difficult to perform predictive modeling/forecasting with existing data and data models
The problem is that traditional models for data analysis are complex multi-tool, multi-skillset projects that are difficult to successfully implement. They are hard to buy, use and manage because they require many individual components, disparate solutions and complex architectures. And this makes it extremely difficult for companies to access data and maximize its value.
These study findings underscore the market need for data analysis-as-a-service. The finding details indicate that companies are looking not for a plug-and-play tool, but a custom analytics solution in the cloud that will truly give them the ability to capitalize on their data.
This was the underlying reason Data Intensity developed Analytics1TM. Analytics1 is an end-to-end, cloud-based analytics and BI solution specifically designed to help enterprises overcome the complexity, capacity and cost obstacles commonly plaguing analytics and BI initiatives. In fact it’s often described as a single source for data analytics in the cloud.
Analytics1 takes the complexity out of a multi-tool, multi-skillset solution so enterprises can finally extract the actionable insights about customers, products, services and business operations they desperately seek—while freeing their IT departments to focus on pressing business needs.
And this is working for customers. As Eric Duell, VP Analytics and Intelligence at The E.W. Scripps Company described. “When looking to launch our enterprise analytics platform, we recognized that having a single private cloud for both data storage and analytics provided many benefits over solutions that are spread across data centers and providers,” he adds “we have our data, tools, and analytics applications all in one place, and Data Intensity manages the environment for us – from licenses, to new installs, to patching and upgrades – all on a fixed monthly budget.”
Back to the survey, when asked about the concept of an analytics software and service solution similar to Analytics1, the feedback was very positive. The idea of the solution overall was rated very highly, with 23% citing it “excellent” and 59% citing it “good.”
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