Nearly half (48%) of organizations are still struggling to use and
access quality data as underlying technology is failing to deliver on a number
of critical functions. According to new research conducted by ESG in
partnership with InterSystems, while
organizations are looking to rapidly progress how they deliver data across the
value chain, many are still faced with security (47%), complexity (38%), and
performance (36%) challenges.
The research, conducted among almost 400 IT and business professionals,
found that despite issues in data quality, organizations are looking to put an
emphasis on simplicity and self-service to democratize data and empower experts
and generalists alike, helping provide rapid access to actionable insights,
alleviate burdens, and boost productivity.
"Enabling more people to use and benefit from data across an
organization sounds straightforward," said Scott Gnau, Head of Data Platforms
for InterSystems. "Yet as the results show, many organizations need to overcome
significant challenges on a broad front, ranging from data quality to
reliability, speed, and limitations on integrations with underlying data
sources. Data platforms that can better enable business users to explore and
interact with data on their terms with built-in intelligence improves data
literacy and collaboration with peers to improve the business."
The research shows currently, only 7% of organizations say over
half of their employees have access to a data analytics platform. However, to
modernize, 47% plan to invest in augmented analytics, which is expected to see
an 88% growth in uptake. Sometimes referred to as AutoML, augmented analytics
uses machine learning and natural language processing to automate analysis
normally conducted by a specialist or data scientist.
For data leaders already using analytics tools embedded into their
platforms, more than half of organizations (56%) report improved technology and
employee performance. Fifty-one percent see improvements in the productivity of
their employees who use embedded analytics and 49% say it has boosted the
output of their data teams. Almost half (48%) say they see greater
responsiveness to data insights within the business from deploying embedded
analytics.
Other key survey findings include:
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50% of organizations expect to add new features and
functionalities to their data analytics platforms in the next year
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48% also plan to expose more people within their organization to
their data analytics platform to broaden further adoption and making access to
analytics easier
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Organizations also expect to invest in data visualization (44%),
data integration (42%) and interactive dashboards and reporting (37%).
"What these survey results prove is that embedded analytics and
the outputs from it will enable employees to do their jobs more effectively,
whatever their role," added Gnau. "Those data leaders are already realizing the
return from their existing analytics investments and see the continued
opportunity for more people to use more data to help make the right decisions
at the right time for the business."
Read the full survey report ‘Embracing embedded analytics and a
comprehensive data analytics platform' here: InterSystems.com/ESGanalytics