Logi Analytics released findings from a
recent survey of knowledge workers, 2021
State of Analytics: Why Users Demand Better. This research explores the use
of analytics within knowledge workers' daily operations and its impact on
business decisions. Nearly 2,000 knowledge workers - individuals employed primarily
to develop
or use knowledge - across the U.S. responded to the survey conducted by
Hanover Research. Responses came from an array of industries, including financial
services, healthcare, manufacturing and more.
According
to the findings, 90% of knowledge workers consider analytics very to extremely
valuable when making business decisions, yet 99% spend time looking for
information they couldn't easily find in their analytics solution.
Additionally, 77% of the respondents said they would likely adopt a new
analytics solution if it were embedded within an application.
"There
is an obvious disconnect between knowledge workers' desire to use analytics in
decision-making practices and their ability to find the information they need
to do so in the tools at their disposal. If we can't give our people the
ability to derive meaningful insights from our business data with existing BI
tools, how can we ever expect them to make smart business decisions?" said
Brett Hansen, CMO at Logi Analytics. "This research not only spotlights the
importance of analytics in businesses' success, but uncovers the inadequacies
of traditional stand-alone analytics and BI products that leave users searching
for insights. We need to integrate analytics within knowledge workers' existing
workflow so they can quickly draw out impactful insights."
Fifty-seven
percent of knowledge workers also claim analytics have become increasingly
important amid COVID-19, particularly in healthcare and manufacturing. These
specific knowledge workers range anywhere from 46-57% more likely to use
analytic solutions to adapt workflows, monitor impact and perform safety
assessments due to COVID-19.
"Working
with Logi Analytics, this report aimed to outline the needs of knowledge
workers and the value of analytics when making informed business decisions,"
said James Wilcox, Senior Director at Hanover Research. "The results of the
study clearly indicate that analytics are essential for increasing the
efficiency of informed decision making. Nonetheless, the pandemic has shaken
multiple industries and made the need for valuable insights and data arguably
more critical than ever before. Specifically, with workforces adapting to
working remotely and historical predictive indicators becoming unreliable in
the current context, the use of user-friendly analytical tools will increase in
2021."
Other
key findings include:
- Eighty-seven percent of knowledge workers use analytics to
make business decisions often or very often
- On average, knowledge workers spend over five hours a day
working with analytics
- More than half of healthcare (60%) and finance (54%) analytic
solutions are embedded with current applications, while manufacturing
(55%) and other (54%) industries utilize separate stand-alone applications
- Three-quarters of knowledge workers are likely to adopt a new
solution if it is embedded with current apps (77%)
"The pandemic
increased the need for rapid digital transformation in many industries
previously thought of as slow to adopt like healthcare, manufacturing and
financial services," said Hansen. "Knowledge workers must be able to capture
the information they need to do their jobs and standalone BI solutions have
repeatedly failed these decision-makers. Embedded analytics is the answer and
is the most effective solution with rapid innovation taking center stage in
today's environment."