Data and Analytics in the Cloud Subject of New Benchmark Research Released by Ventana Research
Leading market research firm offers research-based analysis of best practices, benefits and trends in cloud computing and the use of data and analytics for business.
The research finds that the use of cloud-based analytics is rapidly becoming universal - virtually all organizations participating in the research said they currently use or intend to use cloud-based analytics. Nearly half (48%) already use it, another 19 percent said they plan to begin using it within 12 months, and 31 percent will begin to use it but do not know when. In addition to using it in business intelligence tasks, more than 30 percent of organizations use cloud-based analytics in marketing, customer service, human capital management, sales and accounting. In terms of business roles the research found the areas of the organization in which cloud-based analytics is most often important are analytics and business intelligence, but it also is important for marketing (34%), sales (31%), customer service (30%), accounting (23%) and finance (23%).
Cloud computing and analytics are not the only innovative technologies that are having powerful business impacts. Our research on business technology innovation finds that while organizations do most often consider analytics important to improve their performance, two other technologies, collaboration and mobility, ranked second and third.
Cloud-based analytics also deliver value by providing data and analytic results directly to end users. More than half (53%) of organizations said that making cloud-based analytics available has helped their customers, partners and employees by improving the quality of the presentation of data and analytics results. This increasingly is being done using mobile technology; more than half of participating organizations (57%) said it is important or very important to provide access to data and analytics through mobile devices.
To be able to do use analytics, business people need software that is less complicated to manipulate than the BI tools of the past yet provides a range of advanced capabilities. The research confirms that among the evaluation criteria applied by companies exploring purchase, usability is the one most often cited as very important, chosen by nearly two-thirds (63%) of organizations.
Another important innovative technology that is closely linked to analytics is big data. Analytics can provide organizations with insights drawn from the large volumes of data they accumulate and process in big data systems. In this research three out of five participants said they use cloud computing for managing big data or plan to use it in the next 12 to 18 months. Further analysis shows that organizations with the most experience in storing their data in the cloud are the ones most often satisfied with cloud-based analytics.
The research also investigated the tools that organizations use to integrate cloud-based data with data from other sources. The largest percentages make do with tools already at hand - spreadsheets (49%) and enterprise integration tools (43%). Fewer use tools provided by a cloud application vendor (38%) or data integration tools designed for cloud computing (33%), but analysis shows these users are more satisfied with them: 78 percent of the former and 86 percent of the latter said they are satisfied or somewhat satisfied with their tools. Only 15 percent of spreadsheet users are satisfied, and almost three in five (58%) of those using spreadsheets said it hampers their ability to manage processes efficiently.
"Our new research reveals some key insights on the role of business and IT," commented Tony Cosentino, vice president and research director at Ventana Research. "It's still the case that a minority are able to work with cloud-based systems and analyze data without involvement from IT (40% vs. 53% needing IT). However, confidence in the organization's ability to use cloud computing for analytics is substantially higher among those not relying on IT (77% vs. 44%), as is satisfaction with their cloud-based analytics (74% vs. 58%). This research also points to the need for business to do a good job of preparing data for analysis, which is the task in which organizations spend the most time. Fortuitously, new methods and tools are making this critical enabler for use of cloud-based analytics a reality."
"This breakthrough research details the reality of current cloud computing use with data and analytics across business and IT, which has been misrepresented for many years by those looking at business through an IT lens," said Mark Smith, CEO and chief research officer of Ventana Research. "Our research clarifies the business needs for cloud computing and the potential of the use of big data, collaboration and mobile technology to amplify the value of analytics, particularly when these technologies are made easy to use and do not require data scientists or advanced analytics skill sets."
Ventana Research undertook this benchmark research to determine the attitudes, requirements and future plans of organizations that use data and analytics in the cloud and to identify the best practices of those that are most proficient in it. We considered how organizations perform analytics, to what types and sources of data they apply it, issues they encounter in the process and the information technology they use.
Those interested in learning more about or participating in this benchmark research can do so at www.ventanaresearch.com/DataandAnalyticsintheCloud/. The research is being sponsored by Qlik and supported through partnership with SourceMedia and Information Management http://www.information-management.com/. Ventana Research, a leading business technology research and advisory services firm, provides qualified research participants with an incentive and complimentary report of the research findings as well as access to a free educational webcast on best practices from the benchmark research.
About Ventana Research
Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana On-Demand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.
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