Monday , May 29 2023

According to a survey, managers do not feel comfortable with data analysis platforms and still prefer their spreadsheets


The amount of data available to organizations every day continues to spread exponentially. But technologies like analysis and artificial intelligence can help companies make better use of these data volume standards. In the age of collaboration between people and machines, organizations can benefit from designing systems where people and machines work together to improve the speed and quality of decision-making.

These wills seem natural. It has been more than 10 years since the term large data is part of the lexicon. Many hereditary problems that have traditionally been barriers have now been eliminated or reduced. These include the high cost of data storage, expensive proprietary software and the need to spend money on expensive data centers.

But what is reality? How many companies have really become IDOs (Insight-Driven Organization that integrates analysis, data, and arguments into the decision-making process every day)?

To find out, in April 2019, Deloitte asked more than 1000 senior executives of large companies (more than 500 employees) who interact, create or use analytics as part of their work.

Here are the key points of the study:

  • Most executives do not think their business is IDO. Less than four out of ten (37%) put their companies in the first two categories of IDO maturity, with only 10% of them falling into the highest category. The remaining 63% are familiar with the analyzes, but do not have infrastructure, are still working in silos, or develop capacity for ad hoc analysis outside silos.
  • The culture can be a catalyst or a brake. Establishing a data-oriented culture is more difficult than acquiring the right tools or raising the right talent. But pay. Companies with the strongest cultural focus on knowledge and decision-making based on data are twice as likely to significantly exceed their business goals. Of 37% of the companies with the strongest analytical crops, 48% have significantly exceeded their business goals over the past 12 months, making them two times more likely, compared with 63% who do not have one. analytical culture as strong.
  • Most managers are not comfortable for accessing or using data. Sixty-seven percent of respondents (senior executives or more) say they do not like accessing data or using data from their tools and resources. This share is significant even in companies with a strong data-based culture, where 37% of respondents are still inconvenienced. This implies a great opportunity for companies to better inform and improve user experience if they want every employee to use the information as part of their work.

Spreads remain champions

For nearly two decades, vendors, analysts, and experts have predicted spreading the spreadsheet, while executives, managers, and professionals are turning to related and intelligent analysis platforms to help them make decisions. This is 2019, and according to Deloitte, many people still love their spreadsheets.

The survey shows that most companies are not mothers in the business analysis, and 62% still use spreadsheets to get insights. In a broader sense, the term "insights" is often used to describe the approach based on qualitative research and trend studies that consist of studying the motivation, expectations and experiences of consumers with respect to a product. The results of the user insight study can initiate the launch of a new product / service or allow the product, its packaging, or ad speech to adapt.

In the world of advertising, finding good ideas is essential to the success of the campaigns. The insight really reveals the user: he explains why the goal thinks what they think they act when they act and feel what they feel. Linsight works on this to meet real needs.

Among the best secrets and craziest adventures of advertising is the decoding of consumer thinking. Drill their minds and find out what makes them work. Intuition, habits, environment and perceptions of every human condition – our behavior; Your task is to discover the origin of these elements.

The insights have been formulated following a thorough study based on observation, intuition, self-analysis, and various issues.

In short, insight is:

  • Understanding the real needs expressed intentionally or unconsciously by customers;
  • a perspective geared to needs and desires;
  • value or conviction that leads to the process of purchase and consumption;
  • to represent what is in the heart and mind of the client;
  • a new trade vision of the symbolic link between the brand and its potential customer.

76% of respondents say their analytical maturity has increased over the past year, most of them still using traditional tools such as spreadsheets (62%) and business intelligence applications (58% combined).

The most commonly used tools for working in the data analysis universe, such as Microsoft Excel and support tools such as Microsoft Power BI or IBM Cognos, are the most commonly used tools. a Deloitte team. However, 67% also use at least one sophisticated tool such as SAS, an open source tool like R, a programming language like Python or a tool for artificial intelligence.

Leaders who are not comfortable

According to the authors of the Deloitte survey, forty-six percent of executives see ILD as a major initiative in the coming years.

The study shows that structured data is still an analytical basis. Sixty-four percent rely solely on structured data from internal systems or resources by removing information from unstructured sources, such as social networking comments, product images, and audio files from customers.

The survey found that less than four out of ten managers (37%) felt that their business was a relatively mature IDO. The remaining 63% do not have the technology infrastructure, they continue to work in silos or develop ad hoc capacity.

In addition, 67% of respondents do not feel comfortable using or using data from existing tools and resources. This is an opportunity for advocates of data analysis and impact assessment (education, training, and helping business leaders work outside their comfort zone). It can also be reinforced by managers who encourage trials and risks, even if they fail.

Dawnport and his co-authors in Deloitte also advocate expanding tools for integrating structural and unstructured data and introducing a unified system of analysis within the organization. A Dashboard, offering a global view of all sectors of society, will simplify the presentation of information, decision-making and employee actions.

Data analysis is seen as an indispensable element for everyone. It is time to eliminate the idea that only mathematicians or scientists specializing in highly qualified data are the only ones responsible for business analysis, they say. They recommend wide dissemination of responsibilities and inform all employees of the role of analysis in their respective tasks.

In summary: In companies where all employees are trained to assess data, 88% have exceeded business goals, compared with only 61% of those with fewer qualified employees.

Source: Deloitte

And you?

How would you study the data in your company?
Do you think your business is a mature IDO? Why?

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