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Business Intelligence (BI): Analytics Can’t Keep Up with the Constant Change in What’s Being Measured
Businesses love the hype promised by business intelligence and analytics. They generally love the results too. But the problem is that they can’t get those results fast enough.
A report from TDWI found that businesses complain that getting their analytics projects up to speed is taking too long which makes it more difficult to achieve the benefits that they expect. The number one goal among businesses using analytics is to be able to shrink the time that it takes to achieve results and consequently value. Only ten percent of businesses say they are satisfied with the time that it takes to get their analytics projects going.
Businesses are spending upwards of $150 billion on big data and analytics according to IDC. But why, despite the investment, are businesses having such a hard time getting their projects on track quickly?
Ivan Chen, director of Enterprise Business Analytics at GPU manufacturer NVIDIA, said that “the fundamental reason analytics is not successful is because different functions have different goals. Business professionals are trying to answer questions about the market, but the market conditions keep changing so you have to keep enhancing the data in reports. IT is supposed to make those changes, but IT has other priorities, so the whole thing breaks down.”
Isher Kaila, CEO of management consulting firm Sapphire Nine Consulting, said that “executives should be aware that they’re likely not even harnessing the value of their analytics spend today. There’s an analytics value chain in which outcomes are generated by insights, insights are generated by accountable business owners, and the accountable business owners have a strong partnership with their technical partners. Too often we see a lack of alignment around metrics and insights.”