ABM WP banner 320x50

ABM WP banner 728

ABM WP banner 320x50

ABM WP banner 320x50

Estimated reading time: 2 minutes, 22 seconds

Does Your Company Have a Low Analytics Maturity? Featured

Does Your Company Have a Low Analytics Maturity? Photo by Nathan Dumlao on Unsplash

Does your company have a low business intelligence (BI) and analytics maturity? According to an article published by Gartner earlier this month, there is an 87% chance that it does. The article entitled, “Organizations Have Low BI and Analytics Maturity”; Gartner investigates why so many companies have a limited BI maturity while including four different approaches to improve it.

 

In the article, Gartner’s senior director analyst, Melody Chien explained, “Low BI maturity severely constrains analytics leaders who are attempting to modernize BI.” She goes on to say, “It also negatively affects every part of the analytics workflow. As a result, analytics leaders can struggle to accelerate and expand the use of modern BI capabilities and new technologies.”

According to Gartner, your business is considered to have subpar BI maturity if you are still using spreadsheet-based statistics and extracting personal data. While Excel is still ideal for data scientists inquiring about a few lines of data; software such as SQL and R are recommended when analyzing data sets that include thousands of lines of data.

If your business could benefit from more strategic data analysis, Gartner recommends that a company should “develop holistic data and analytics strategies with a clear vision.” This step is especially crucial if a data analytics team takes on projects individually. This may indicate that your data team is siloed from key stakeholders in the IT, Finance, and Sales department. Gartner recommends working with the key stakeholders and developing a process that each analytics project is measured against. This will minimize the risk of inconsistency and ensures all team members are held accountable.

Best practices and essential skills in regards to data analysis is always changing. Gartner encourages businesses to be flexible and open to develop their analytics program whether that means hiring for different roles, purchasing the necessary software and hardware, or anticipating upcoming needs of the team.

Thirdly, a business must create a data governance program. The article explains that a data governance program, “support business objectives and also enable the organization to balance out the opportunities and risks in the digital environment.” While many companies have identified a data governance program as essential, few actually create one within their organization.

The last tip on growing one’s analytics maturity is to “create integrated analytics platforms that can support a broad range of uses.” The article goes on to state that many businesses turn to traditional BI tools that have limited uses. Gartner recommends that a business hoping to ramp up their analytics team use BI tools that include modern technologies. These tools could include Tableau, R programing, and Apache Spark.

Data analysis is a growing field, and businesses must stay on top of the growing trends. Analytics maturity doesn’t happen overnight, but reviewing Gartner’s article, “Organizations Have Low BI and Analytics Maturity” is a great start.

Read 3626 times
Rate this item
(0 votes)

ABM WP banner 320x50

PMG360 Research

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.