Gartner: Advanced Analytics Is a Top Business Priority
October 22, 2014
Share this

Gartner, Inc. said advanced analytics is a top business priority, fueled by the need to make advanced analysis accessible to more users and broaden the insight into the business. Advanced analytics is the fastest-growing segment of the business intelligence (BI) and analytics software market and surpassed $1 billion in 2013.

"While advanced analytics have existed for over 20 years, big data has accelerated interest in the market and its position in the business," said Alexander Linden, Research Director at Gartner. "Rather than being the domain of a few select groups (for example, marketing, risk), many more business functions now have a legitimate interest in this capability to help foster better decision making and improved business outcomes."

IT and business leaders must expand their efforts to move their organizations from using only traditional BI that addresses descriptive analysis (what happened) to advanced analytics, which complements by answering "why", "what will happen" and "how we can address it".


Source: Gartner (October 2014)

"While basic analytics provide a general summary of data, advanced analytics deliver deeper data knowledge and granular data analysis," added Linden. The rewards of data-driven decision making can be a powerful boost to business outcomes. However, creating value from data requires a range of talents, from data integration and preparation, to architecting specialized computing/database environments, to data mining and intelligent algorithms. "Extracting value out of data is not a trivial task," said Linden. "One of the key elements of any such 'making sense out of data' program is the people, who must have the right skills and capabilities."

Data scientists in the organization support big data initiatives for which the No. 1 use case is enhancing customer experience. According to Gartner's latest global big data survey conducted in 2014, 68 per cent of respondents said that they use big data to enhance their customer experience. This is the third year customer experience has been a top business problem to address.

"Data scientists are not business analysts," said Linden. "They are professionals with the capability to derive mathematical models from data to reap clear and hard-hitting business benefits. They need to network well across different business units and work at the intersection of business goals, constraints, processes, available data and analytical possibilities."

Ultimately, data science is inevitable as it can help extract various kinds of knowledge from data, for example, how to acquire new customers (database marketing), how to do more cross-selling (via propensity-to-purchase modeling), information on route optimization, drug design and demand or failure prediction.

"Whether an organization calls the role data scientist or something else, individuals (or teams of professionals) with these core skills and soft skills will prove essential in maximizing the realized value of your information assets, and discovering opportunities for enhanced business performance and competitive advantage," said Linden.

About Gartner's Global Big Data Survey: The Gartner survey of 302 Gartner Research Circle members worldwide, which was conducted in June 2014, was designed to explore organizations' technology investment plans relating to big data, stages of big data adoption, business problems solved data, technology and challenges and compare the results with those from previous years.

Share this

The Latest

September 19, 2019

You must dive into various aspects or themes of services so that you can gauge authentic user experience. There are usually five main themes that the customer thinks of when experiencing a service ...

September 18, 2019

Service desks teams use internally focused performance-based metrics more than many might think. These metrics are essential and remain relevant, but they do not provide any insight into the user experience. To gain actual insight into user satisfaction, you need to change your metrics. The question becomes: How do I efficiently change my metrics? Then, how do you best go about it? ...

September 17, 2019

The skills gap is a very real issue impacting today's IT professionals. In preparation for IT Pro Day 2019, celebrated on September 17, 2019, SolarWinds explored this skills gap by surveying technology professionals around the world to understand their needs and how organizations are addressing these needs ...

September 16, 2019

Top performing organizations (TPOs) in managing IT Operations are experiencing significant operational and business benefits such as 5.9x shorter average Mean Time to Resolution (MTTR) per incident as compared to all other organizations, according to a new market study from Digital Enterprise Journal ...

September 12, 2019

Multichannel marketers report that mobile-friendly websites have emerged as a dominant engagement channel for their brands, according to Gartner. However, Gartner research has found that too many organizations build their mobile websites without accurate knowledge about, or regard for, their customer's mobile preferences ...

September 11, 2019

Do you get excited when you discover a new service from one of the top three public clouds or a new public cloud provider? I do. But every time you feel excited about new cloud offerings, you should also feel a twinge of fear. Because in the tech world, each time we introduce something new we also add a new point of failure for our application and potentially a service we are stuck with. This is why thinking about the long-tail cloud for your organization is important ...

September 10, 2019

A solid start to migration can be approached three ways — all of which are ladder up to adopting a Software Intelligence strategy ...

September 09, 2019

Many aren't doing the due diligence needed to properly assess and facilitate a move of applications to the cloud. This is according to the recent 2019 Cloud Migration Report which revealed half of IT leaders at banks, insurance and telecommunications companies do not conduct adequate risk assessments prior to moving apps over to the cloud. Essentially, they are going in blind and expecting everything to turn out ok. Spoiler alert: It doesn't ...

September 05, 2019

Research conducted by Aite Group uncovered more than 80 global eCommerce sites that were actively being compromised by Magecart groups, according to a new report, In Plain Sight II: On the Trail of Magecart ...

September 04, 2019

In this blog, I'd like to expand beyond the TAP and look at the role Packet Brokers play in an organization's visibility architecture. Here are 5 common mistakes that are made when deploying Packet Brokers, and how to avoid them ...