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Enhancing Information with Advanced Analytics Improves Decision-Making

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An IDC infographic, sponsored by SAP. Companies realize that using predictive analytics for business performance can result in substantial ROI. Expand from descriptive analytics to predictive analytics for improved agility.

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Enhancing Information with Advanced Analytics Improves Decision-Making

  1. 1. All IDC research is © 2015 by IDC. All rights reserved. All IDC materials are licensed with IDC's permission and in no way does the use or publication of IDC research indicate IDC's endorsement of SAP’s products/or strategies. AN IDC INFOGRAPHIC, SPONSORED BY SAP Overcoming challenges: Recognize the importance of predictive analytics Overcoming challenges:Staffing up is a key challenge but easier to use tools can help Expand from descriptive analytics to predictive analytics for improved agility Companies realize that using predictive analytics for business performance can result in substantial ROI. Model scenarios • Visualize the impact of a risk event • Forecast performance • Identify lucrative customer segments • Understand how decisions taken today can impact the organization in the future IDC survey: How important are predictive or advanced analytics as part of your organization's overall business analytics capabilities? ✔ Recommended steps: Model, Plan and Predict, Monitor, and Take Action ✔ Recommended: Specialized predictive tools for data scientists and self-service predictive analytics for business users ✔ Recommendation: It will continue to be difficult to hire data scientists for predictive analysis. Distribute the effort among business users to reduce the need for these resources Critical 12% Very important 34% of companies need to make predictive capabilities a higher priority 54% 73% 50% Overcoming challenges: upgrading analyticsskills Enhancing Information With Advanced Analytics Improves Decision-Making of companies have a distributed staff tasked with focusing on predictive or advanced analytics 60%of companies are experiencing predictive analytics skill shortages that hinder their organization's business analytics initiatives of organizations satisfy user needs for predictive capabilities A distributed staff is a reality so delivering predictive capabilities more broadly is an approach that matches organizational structures. The benefits of a well implemented strategy: - Harnessing the full value of structured and unstructured data - Empowering teams with timely and context-rich insight - Improving decision-making and increasing productivity An IDC survey of IT professionals and LOB management provided some key insights for making this transformation. For more, visit sap.com/accelerate-insight

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