Ventana Research has completed research to benchmark organizations' use of product and supply chain analytics. The research assessed organizational maturity by examining the adequacy of people, process, information and technology competencies required to make the most effective and efficient use of analytics. The findings offer significant new insights into how analytics and the measures and metrics they provide are used to manage products and services and the supply chain that produces them.
The research confirms that metrics and key indicators are important, and are used most often to evaluate cost- and budget-related factors. And they show that analytics processes are not very effective in most organizations: Nearly two-thirds said it is very important to make it simpler to provide analytics and metrics, and half said they can significantly improve their use of them. In addition, half are not satisfied with the process currently used to create analytics, and only one-third are satisfied with the technology used for that purpose.