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Half of companies using advanced analytics solutions are disappointed with their results, according to a survey by Gartner. More than 50 percent of senior level executives are disappointed, midlevel managers less so.
Lizzy Foo Kune, analyst at Gartner, said that “though CMOs understand the importance of applying analytics throughout the marketing organization, many struggle to quantify the relationship between insights gathered and their company’s bottom line. This inability to measure ROI tarnishes the perceived value of the analytics team.”
Expectations aren’t matching up with real-world results. The problem could be partly related to business priorities. Gartner asked respondents how their business prioritizes analytics activities. Analytics skills acquisition ranked last with only 23 percent saying that it was a high priority.
But the problems may run much deeper than that.
John Lucker, principal at Deloitte Consulting, said that “many organizations spend years deliberating—often out of a combination of organizational inertia, competing priorities, and skepticism of business analytics—before taking the first step toward embracing these methods. Challenges often stem from office politics, misconceptions about analytics, and fruitless quests for data and statistical perfection.”