Businesses today are still in the early stages of maturing their use of business intelligence and performance management, according to benchmark research findings announced by Ventana Research. The research uncovers strong movement toward improving analytics, planning and collaboration across business and IT.
This major research on BI and performance management analyzed input from hundreds of organizations of various sizes from around the world to assess the maturity and direction of their efforts. Ventana’s benchmark is based on the responses from 308 qualified individuals, including executives, management, users (such as directors, senior managers/managers, analysts and staff) and others.
The research examined organizations' people, process, information and technology competencies and what they require to enable effective BI and performance management. Most organizations revealed they’re still in early stages of development, with only 15% at the highest innovative level of maturity in the Ventana Research Maturity Index. Size of the organization was a relevant factor, and organizations with 10,000 or more employees or more than $10 billion in revenue were found to be more mature. There is growth in advancing BI into performance management in the areas of operations, finance and customer management in more than half of organizations, and a strong desire to improve in 41% of them.
The research reveals a market in an early stage of development and shows that most organizations face considerable obstacles. A mere 9% of research participants are very satisfied with their organization’s BI efforts. They have only basic BI capabilities, such as querying sources for specific data (74%), generating reports from data (74%) and accessing data from a spreadsheet for further analysis (70%). The capabilities organizations are currently working to deploy are only somewhat more sophisticated: communicating data in the right format (27%), searching for data (26%), presenting data effectively (25% ) and creating measures and metrics (24%). The research also found a small but growing desire to provide mobile device support for BI and performance management as well as what-if scenario analysis and collaboration.
“The market for BI has been advancing for decades, but organizations have not achieved the value of deployments with lack of sophistication in use of technologies and overuse of spreadsheets,” says Mark Smith, CEO and EVP Research of Ventana Research. “But making BI efficient is not sufficient, as helping organizations enable performance management is just as important. Both BI and performance management are not as mature as you think, as this research found that we are at an inflection point of improvement.”
Ventana Research will detail the findings of this benchmark research in a live webinar on May 26 that will discuss the research findings and offer recommendations for improvement. Register for the webinar at http://www.ventanaresearch.com/bipm/.
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