Harvard Business Review Analytic Services Study Reveals That Organizations Are Not Prepared for a Data-Driven Future
November 29 2018 - 8:00AM
Business Wire
Organizational Silos, Legacy Processes &
Lack of Analytics Skills Among the Top Barriers to Transforming
into an Intelligent Enterprise™, the Study Reveals
MicroStrategy® Incorporated (Nasdaq: MSTR), a leading worldwide
provider of enterprise analytics and mobility software, today
announced the results of a Harvard Business Review Analytic
Services (HBR-AS) study, “An Inflection Point for the Data-Driven
Enterprise”, which polled 729 business leaders and personnel across
various industries around the world.
The HBR-AS study reveals concerning statistics for data-driven
transformation, including:
- Nearly one-third (32%) of respondents
indicate their organizations are still operating on static and
backward-looking reporting.
- Only one in 10 of respondents say their
organizations have embedded data and analytics into all processes
and decision making, and even fewer have advanced to predictive
analytics or automated decision making.
- While 75% say it’s very important to
deliver actionable intelligence to employees across the enterprise
– the foundation for an Intelligent Enterprise – less than a
quarter (24%) indicate their organizations are able to do so.
- Only 28% of respondents say their
organizations are focused on introducing new business models, which
is the key to digital transformation.
Download An Inflection Point for the Data-Driven Enterprise
today, or learn more about these findings by visiting the
MicroStrategy blog.
“The future belongs to organizations that fuel the experiences
of people, applications and devices with insights,” said Marge
Breya, CMO, MicroStrategy Incorporated. “We are confident that
organizations can achieve their vision of digital transformation
through a combination of technology, technique and clear vision,
and evolve to become a more Intelligent Enterprise.”
HBR-AS Study Highlights Top Organizational and Technology
Barriers, Next Steps
In their efforts to advance their data and analytics
capabilities, organizations face a number of challenges. According
to the report, the most significant organizational barriers to
data-driven enterprise evolution are organizational silos, legacy
processes, lack of key digital or data analytics skills, and
resistance to change. When it relates to technology barriers,
legacy systems and infrastructure top the list, followed by the
lack of a centralized platform, data silos, and data consistency
issues. While much of the data analysis going on today remains
backward-looking, the focus is rapidly shifting toward more
forward-looking, and even automated, data-driven decision
making.
Furthermore, not only is advanced analytics the next step to a
data-driven transformation, but digital identity, big data, cloud
and AI also top the long list of capabilities respondents say will
be critical to their organization’s future performance.
A Roadmap to the Intelligent Enterprise
The Intelligent Enterprise is the ultimate data-driven
organization capable of leveraging data and enterprise assets to
fuel the experiences of people, applications, and devices – in
aggregated and unique ways that have previously never been
possible. It delivers intelligence, by means of personalized
insights or recommendations and predictions – that are contextual
to where you are, to the device you’re using and what you’re
doing.
According to the report, organizations find themselves at an
inflection point, as they seek new ways to transform the business.
Companies that want to stay on the right side of digital disruption
require a roadmap for technological and organizational evolution,
as well as an end to siloed approaches. “If you want to manage real
transformation, you need to have a proper end-to-end data
management, data security, data processing platform company-wide,”
says data and analytics thought leader Ronald van Loon.
This requirement extends all the way to the board. “Every board
member and CEO needs to understand that data assets have to be
managed the same way they manage any other asset,” says Ray Wang,
founder and principal analyst with Constellation Research. “If they
don’t, they will be disrupted.”
HBR-AS surveyed 729 business leaders and personnel across
various industries around the world for the report, which was
jointly commissioned by MicroStrategy; Snowflake Computing, Inc.,
the only data warehouse built for the cloud; and Wipro Limited, a
leading global information technology, consulting and business
process services company. Industries surveyed included financial
services, healthcare, manufacturing, retail/CPG, and
technology.
About MicroStrategy Incorporated
MicroStrategy (Nasdaq: MSTR) is a worldwide leader in
enterprise analytics and mobility software. A pioneer in the BI and
analytics space, MicroStrategy delivers innovative software that
empowers people to make better decisions and transform the way they
do business. We provide our enterprise customers with world-class
software and expert services so they can deploy unique intelligence
applications. To learn more, visit MicroStrategy online, and follow
us on LinkedIn, Twitter and Facebook.
MicroStrategy and Intelligent Enterprise are either trademarks
or registered trademarks of MicroStrategy Incorporated in the
United States and certain other countries. Other product and
company names mentioned herein may be the trademarks of their
respective owners.
MSTR-G
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Claudia CahillMicroStrategy
Incorporated703-270-2207ccahill@microstrategy.com
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