Technology innovation is accelerating faster than companies can keep up with. Many feel pressure to adopt new strategies that technology makes possible and find the resources required for necessary investments. In 2015 our research and analysis revealed many organizations upgrading key business applications to operate in the cloud and some enabling access to information for employees through mobile devices. Despite these steps, we find significant levels of digital disruption impacting every line of business. In our series of research agendas for 2016 we outline the areas of technology that organizations need to understand if they hope to optimize their business processes and empower their employees to handle tasks and make decisions effectively. Every industry, line of business and IT department will need to be aware of how new technology can provide opportunities to get ahead of, or at least keep up with, their competitors and focus on achieving the most effective outcomes.
Topics: Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Business Performance Management (BPM), Cloud Computing, Customer Performance, Financial Performance, Financial Performance Management (FPM), Governance, Governance, Risk & Compliance (GRC), Information Applications, Information Management, Information Optimization, Location Intelligence, Mobile Technology, Operational Intelligence, Operational Performance, Operational Performance Management (OPM), Predictive Analytics, Sales Performance, Sales Performance Management (SPM), Supply Chain Performance, Uncategorized, Workforce Performance, Big Data, Analytics
The Performance Index analysis we performed as part of our next-generation predictive analytics benchmark research shows that only one in four organizations, those functioning at the highest Innovative level of performance, can use predictive analytics to compete effectively against others that use this technology less well. We analyze performance in detail in four dimensions (People, Process, Information and Technology), and for predictive analytics we find that organizations perform best in the Technology dimension, with 38 percent reaching the top Innovative level. This is often the case in our analyses, as organizations initially perform better in the details of selecting and managing new tools than in the other dimensions. Predictive analytics is not a new technology per se, but the difference is that it is becoming more common in business units, as I have written.
Topics: alteryx, Analytics, Big Data, Business Analytics, Business Intelligence, Business Performance, Customer Performance, Information Optimization, Location Intelligence, Microsoft, Operational Performance Management (OPM), Oracle, Predictive Analytics
Data is an essential ingredient for every aspect of business, and those that use it well are likely to gain advantages over competitors that do not. Our benchmark research on information optimization reveals a variety of drivers for deploying information, most commonly analytics, information access, decision-making, process improvements and customer experience and satisfaction. To accomplish any of these purposes requires that data be prepared through a sequence of steps: accessing, searching, aggregating, enriching, transforming and cleaning data from different sources to create a single uniform data set. To prepare data properly, businesses need flexible tools that enable them to enrich the context of data drawn from multiple sources, collaborate on its preparation to serve business needs and govern the process of preparation to ensure security and consistency. Users of these tools range from analysts to operations professionals in the lines of business.
Topics: Analytics, Big Data, Business Analytics, Business Collaboration, Business Intelligence, Business Mobility, Business Performance, Cloud Computing, Customer Performance, Data Preparation, Financial Performance, Information Applications, Information Management, Information Optimization, Location Intelligence, Operational Intelligence, Operational Performance, Sales Performance, Supply Chain Performance, Workforce Performance
This year presents much opportunity for organizations to use a new generation of technology to compete better, be more efficient in their business operations and engage their workforces to their full potential. We have identified and begun to track the following next-generation technologies: analytics, big data, collaboration, cloud computing, mobile technology and social media, and in 2014 we added wearable computing to the list. In 2015 we will intensify our focus on all of them specifically in our research agenda and as part of our line of business research agendas.
Topics: Analytics, Big Data, Business Analytics, Business Collaboration, Business Intelligence, Business Performance, Cloud Computing, Collaboration, Customer & Contact Center, Financial Performance, Governance, Information Applications, Information Management, Location Intelligence, Mobile Technology, Operational Intelligence, Operational Performance, Risk & Compliance (GRC), Sales Performance, Social Media, Supply Chain Performance, Technology Innovation, Wearable Computing, Workforce Performance
It’s widely agreed that cloud computing is a major technology innovation. Many companies use cloud-based systems for specific business functions such as customer service, sales, marketing, finance and human resources. More generally, however, analytics and business intelligence (BI) have not migrated to the cloud as quickly. But now cloud-based data and analytics products are becoming more common. This trend is most popular among technology companies, small and midsize businesses, and departments in larger ones, but there are examples of large companies moving their entire BI environments to the cloud. Our research into big data analytics shows that more than one-fourth of analytics initiatives for companies of all sizes are cloud-based.
Topics: Analytics, Big Data, Business Analytics, Business Intelligence, Business Performance, cloud analytics, cloud business intelligence, Cloud Computing, Customer & Contact Center, Data Integration, Financial Performance, Governance, Internet of Things, IT Performance, Location Intelligence, Operational Intelligence, Risk & Compliance (GRC), SaaS, Sales Performance, Social Media, Statistics, Workforce Performance