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Data Analytics: It’s Hard for Businesses to Move Past Spreadsheets

By Dick Weisinger

89 percent of organizations still rely heavily on the use of spreadsheets to do their data analysis, according to a survey on data analytics by TDWI.  Yet almost all of those organizations worry about the quality and consistency of the data that’s in those spreadsheets.

A survey by Centage Corporation found the same thing: 88 percent of CFOs use spreadsheets as their primary tools for budgeting within an organization and running “what-if” scenarios.

David Stodder, senior director of TDWI Research for business intelligence (BI), said that “data is the lifeblood for critical business activities including risk evaluation, customer engagement, business performance management, regulatory requirements and more… Business users need to move beyond spreadsheets and inefficient data preparation practices to a team-based intelligent analytical approach that enables smarter data stewardship.”

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One comment on “Data Analytics: It’s Hard for Businesses to Move Past Spreadsheets
  1. Aanchal Iyer says:

    It is possible for companies to move beyond spreadsheets if they used data science methods to arrive at accurate predictive analysis which can give them market share analysis, competition analysis, future trends analysis and much more. Reliance on spreadsheets will soon be outdated, as more and more companies look towards data science and machine learning to provide their solutions.

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