Self-service analytics emerges as key driver for organizational performance
July 31, 2015, New Delhi, India: Tableau (NYSE: DATA), in partnership with IDC, released a report today, on ‘How Culture and the Right Analytics Drive Success for Leading Organizations in Asia-Pacific’. The report highlights why the use of analytics is important, how to foster its use in organizations, and finally, why meeting the analytics needs of the business user is important to improve organizational performance. It is based on the findings of a survey of 207 respondents in both IT and line-of-business roles, spread across India, Japan, Australia, and Singapore. The report further elaborates how self-service analytics and agile decision making in the line of business enables organizations to identify opportunities and risks, as conditions warrant to improve business performance.
The organizational benefits, both quantitative and qualitative, that self-service analytics provide to decision makers at various levels within the organisation are defining the next big trend in data analytics. Using next generation analytics software, organizations are addressing pain points in a variety of areas like processes, risk management, optimization of resources and customer management thereby outperforming their peers while simultaneous reducing the data review time significantly.
Craig Stires, Associate Vice President, Big Data, Analytics and Software, IDC Asia Pacific said, “Of the countries studied in Asia/Pacific, Indian users are the most likely to feel their analytics needs are met. However, self-service analytics and mobile capabilities still hold the biggest gaps in user needs today. In India, users indicate higher frequency of usage of analytics tools, with 60% increase in daily and weekly usage over other countries studied. This is very important, as daily use of BI/analytics results more frequently in 50%+ improvement of business outcomes.”
Deepak Ghodke – Country Manager India, Tableau Software added, “Instead of confining access to critical data to an exclusive group of data scientists, we’re seeing that self-service data analytics is now on the rise with more organizations embracing a culture of data-driven decision making. With Tableau, domain experts across lines-of-business are able to conduct their own analyses, ask the right questions and benefit from rapid-fire insights from their own data sources.”
The overall business analytics software market is forecast to grow in India at 9.6% YoY through 2019, reaching USD 583 million, compared to 6.8% across Asia-Pacific. Spend on end-user tools (part of the business analytics software market), including visualization is forecasted to grow in India at 10% YoY through 2019, reaching USD 121 million, compared to 7.2% across Asia-Pacific. In India, the business processes that have the highest utilization of BI/analytics are IT, Risk Management, Customer Service, and Inventory.
Users in Asia-Pacific have cited shortcomings in ad hoc analysis, visual analysis, and mobile access to information as inhibitors to broader and more effective use of analytics. IDC found that purpose-built analytics solutions that extend beyond commonly available enterprise reporting solutions can address these deficits. Making sense of the data enables businesses to strategize and execute better providing their business the fillip it needs to steer ahead of the competition. Big Data and the insights derived from it can help enterprises become agile and better attuned to the customer needs which in turn can benefit their profitability and overall performance.
The report concludes that employees with analytics tools that better suit their needs, see more frequent use of analytics and are more likely to enable their employers to realize greater benefits in the form of cost reduction, revenue increases, productivity increases, and improved innovation rates.
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International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications and consumer technology markets. IDC helps IT professionals, business executives, and the investment community make fact-based decisions on technology purchases and business strategy. More than 1,100 IDC analysts provide global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries worldwide. For 50 years, IDC has provided strategic insights to help our clients achieve their key business objectives. IDC is a subsidiary of IDG, the world’s leading technology media, research, and events companies.