Thursday, December 8, 2022
Published 3 Years Ago on Monday, May 11 2020 By Inside Telecom Staff
Analytics and Business
Intelligence projects have shown initial indications of defying the economic
downturn that COVID-19 continues to create. Analytics and BI are being utilized
by companies to plan and execute strategies that are paramount to their
survival. Advisory services firm Dresner, published an interterm finding report
from their 2020 COVID-19 impact survey report this week. It provides an insight
into the intentions of businesses in regard to analytics and business
intelligence spending. The results of which, reflect respondents’ strong belief
that data-driven decision making is an absolute necessity for their businesses
to survive and eventually grow again.
Services’ latest update, New Findings on How COVID-19 Impacts Businesses,
Budgets, and Projects, provides a data-driven glimpse into how analytics and BI
project spending is changing so far this year. It is available online
to read here. Key insights from the interim results of the study
include the below:
49% of businesses are either launching new analytics and BI projects or
moving forward with no delay on projects that have been already put-in-place. 39%
of analytics and BI projects are now on hold, and just 8% of projects have been
canceled. Their research team believes that the majority of all enterprises are
now adopting a data-driven approach to work their way through this crisis. This
relying on analytics and BI to help find possible alternative strategies and
COVID-19’s quick, and continuous disruption is a wake-up call to every
enterprise who had become too complacent or may have procrastinated about their
cloud strategies. There are multiple insights from
the update but cloud computing’s huge usage ascent driven by the need to have
every department running on a virtual platform is the most significant. The 68%
increase in enterprises saying cloud computing is now fundamental to their
operations is reflective of their belief that virtual organizations will only
continue to grow.
Business Intelligence budgets have continued to stabilize over the last three months, which counters the overall trend of IT budget cuts across all organizations across the globe. Before COVID-19, analytics and BI had proved their value in providing realistic and viable options for reducing costs, serving customers, and increasing revenue. 83% of enterprise leaders interviewed, believe there will be an improvement in business conditions in six months. Analytics and BI spending is benefiting from the optimistic outlook enterprise leaders have of the downturn being relatively brief.
Self-service BI’s importance grew from 25% in February to 34% in April,
reflecting enterprises’ needs for providing analytics users with enhanced
capacities to do their reporting and analytics. Offloading business
analyst workloads back to users by providing self-service Business Intelligence
applications is freeing business analyst teams and allowing them to take on
more complex pricing, product mix, and supply chain modeling. This is all
essential for surviving in a turbulent economy. 62% of businesses say
self-service BI is essential to their businesses in 2020.
30% of enterprise leaders consider collaborative BI imperative to
continuing business operations given the distributed nature of their teams
today. Searching and navigating for content,
and the ability to share content and commentary with other users are the two
most important collaborative features in Self-Service BI systems today.
Emails Could Be Replaced as the Communication Staple Emails have held their position as a centerpiece of workplace communications for years — they’re quick, simple, and free to use. But recent data suggest emails are slowly being replaced by real-time communication apps, like Slack and Microsoft Teams. So, in a time of instant messaging, is […]
Stay tuned with our weekly newsletter on all telecom and tech related news.
© Copyright 2022, All Rights Reserved