The results are in! Business technology advisors at Gartner, Forrester, and the Business Application Research Center (BARC) released independent survey results that have a clear consensus: The top priority among executives in every industry is Business Intelligence and Data Analytics.
Rarely do we ever see consensus on anything in business so clearly aligned, but these survey results say it all.
- 85% of the executives Gartner surveyed said they have made it their “Personal Priority” to rely more on data and analytics as an important input for decision making
- Only 49% of all business decisions are made based on quantitative information, according to Forrester survey participants
- In the BARC survey, organizations ranking from “Best in Class” to “Laggards” all agree that a data driven culture and self-serve analytics are “Very Important”
Across the board, leaders in varying industries agree that equipping all members of the organization with relevant data at the level of detail necessary for their role helps them be their best. You see, when every executive, manager, and frontline team member has actionable data and meaningful analytics at their fingertips they are empowered to make more informed business decisions — and that creates valuable downstream benefits across the entire organization.
The team behind The BI Collaborative has shared this philosophy since day one! When data is readily accessible and problem-solving becomes a team sport rooted in facts, you create a framework for Operational Excellence and higher employee engagement. Let’s not forget the time savings and increased productivity that comes from eliminating manual data aggregation. Even better, Human Services Providers who can leverage data to tell a better story to their consumers, payers, or government agencies as they migrate from fee for service to alternative payment methods have a competitive advantage.
It’s clear that global leaders, tech advisors, and your peers believe in the organization-wide benefits that Business Intelligence and Data Analytics deliver. So, what’s your plan? If you don’t know where to begin, here are three recommendations:
- Start now: High performing organizations have already made BI a top priority.
- Find the right partner: The benefits of speed, adoption, and cost (build -vs- buy) can all be positively impacted by aligning with people who are experts in IT, BI and your industry.
- Eat the elephant one bite at a time: Adopt a philosophy that utilizes a phased implementation approach by starting with a few BI modules that will produce quick wins, a quick ROI and build momentum from there.
If you’re ready to get started on your plan, click here to self-schedule a one-on-one conversation with an industry executive leader at The BI Collaborative.
