Data analytics firm Alteryx this week released a survey from Harvard Business Review Analytic Services on how companies are leveraging data blending to uncover business insights, even as Big Data sources continue to grow at an unprecedented rate.
The survey, which included over 500 business leaders and data analysts from around the globe in more than 15 industries, reveals that a vast majority of executives find data analytics important for their decision making process, and highlights the tremendous bottom-line potential from using the latest generation of data analytics tools for data blending and analysis.
“Companies have more and more data that they need to blend together to get the whole picture and make more informed decisions,” said Bob Laurent, senior director of product marketing at Alteryx, in a news release. “With only seven percent rating their analytics tools effective, companies need an easy-to-use, modern toolset to enable self-service data blending and analytics, so data analysts can effectively blend an increasing number of data sources, perform analytics and come away with new business insights that will positively impact the bottom line.”
Some key findings of the study reveal:
- 88% said data analytics is important to extremely important to their organization’s decisions and processes
- 93% do not see their analytics tools as effective and 92% are still using excel
- 64% leverage 5 or more data sources to perform analytics
- 77% expect their number of data sources to continue to increase
Source: PR Newswire; edited by Richard Carufel