Ventana Research Analyst Perspectives

Self-Describing Data Powers B2B Blockchain Distributed Ledgers

Posted by Robert Kugel on Feb 15, 2018 7:22:37 AM

The use of blockchain distributed ledgers in business processes is now a common theme in many business software vendors’ presentations. The technology has a multitude of potential uses. However, presentations about the opportunities for digital transformation always leave me wondering: How is this magic going to happen? I wonder this because the details about how data flows from point A to point B via a blockchain are critically important to blockchain utility and therefore the pace of its adoption.

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Topics: Planning, Predictive Analytics, Forecast, FP&A, Machine Learning, Reporting, budget, Budgeting, Continuous Planning, Analytics, Data Management, Cognitive Computing, Integrated Business Planning, AI, forecasting, consolidating

Research Agenda Explores Evolving World of Analytics in 2018

Posted by David Menninger on Feb 15, 2018 6:48:42 AM

We at Ventana Research recently published our research agendas for 2018. Analytics and business intelligence are evolving and so is our research on their use across practice areas. Earlier research has shown that analytics can deliver significant value to organizations; for example, our predictive analytics research shows that 57 percent of organizations reported achieving a competitive advantage and half created new revenue opportunities with predictive analytics. Waves of investment in self-service analytics have propelled the market for analytics tools, significantly empowering line-of-business organizations to create their own analytics and set their own analytic priorities. But organizations are also beginning to recognize some of the limitations of current analytics implementations – for self-service, for example. Our Data Preparation Benchmark Research reveals that fewer than half (42%) of organizations are comfortable allowing business users to work with data not prepared by IT. Our research this year will continue to explore both the successes and challenges organizations face as they continue to use analytics and BI.

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Topics: Machine Learning, Analytics, Business Intelligence, Collaboration, Internet of Things, IOT, Artificial intelligence, natural language processing, Natural Language Generation

Predictive Finance Organizations Are More Valuable

Posted by Robert Kugel on Feb 12, 2018 4:31:44 AM

Ventana Research uses the term “predictive finance” to describe a forward-looking, action-oriented finance organization that places emphasis on advising its company rather than fulfilling the traditional roles of a transactions processor and reporter. Technology is driving the shift away from the traditional bean-counting role. The cumulative evolution of software advances will substantially reduce finance and accounting workloads by automating most of the mechanical, rote functions in accounting, data preparation and reporting. (I recently summarized these in a “Robotic Finance”)

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Topics: Planning, Predictive Analytics, Forecast, FP&A, Machine Learning, Reporting, budget, Budgeting, Continuous Planning, Analytics, Data Management, Cognitive Computing, Integrated Business Planning, AI

Predictive HCM: The Benefits Are Real, as Are the Cautions

Posted by Steve Goldberg on Jan 2, 2018 12:43:14 AM

Two of the most impactful contributions of any HR department are driving employee engagement and employee productivity, outcomes that are highly correlated of course. These contributions are meaningful because, for an organization of any appreciable size, even fairly small upticks in employee productivity translate into significant financial benefit. The math is simple: Increase revenue per employee (for example, via technologies that enhance productivity) from $150,000 to $157,500 (just 5 percent) in a workforce of 5,000 employees and you capture $37.5 million in incremental revenue. The magnitude of this business impact is several times larger than shaving even 50 percent off the HR operating budget in an equivalent-sized organization.

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The Untapped Potential of Data Preparation

Posted by David Menninger on Dec 29, 2017 5:53:44 AM

Ventana Research recently published the findings of our benchmark research on Data Preparation, which examines the practices organizations use to accomplish data preparation. We view data preparation as a sequence of steps: identifying, locating and then accessing the data; aggregating data from different sources; and enriching, transforming and cleaning it to create a single uniform data set. Using data to accomplish organizational goals requires that it be prepared for use; to do this job properly, businesses need flexible tools that enable them to enrich the context of data drawn from multiple sources and collaborate on its preparation as well as ensure security and consistency. Users of data preparation tools range from analysts to operations professionals in the lines of business to IT professionals.

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Topics: Big Data, Analytics, Data Preparation