Analytics Becoming Central Technology for Digital Transformation as Companies Depend More on Data to Drive Operations, Guide Business Decisions
Analytics is emerging as a business game-changer with the ability to increase productivity, cut costs and enable better business decisions, a new report from Nucleus Research finds. Based on ROI case studies since 2017, analytics delivers on the average benefit of $9.01 per every dollar spent.
#RESEARCH: #Analytics Delivers $9.01 for Every Dollar Spent. Analytics becoming central technology for digital transformation as companies depend more on data to drive operations, guide business decisions https://bit.ly/2OtAJgF
“Analytics has been a top performer in enterprise software for the past decade, only growing in the value it adds. AI and the move from stand-alone apps to highly integrated embedded solutions further boost that value, making analytics a strategic priority for most companies,” said Ian Campbell, CEO of Nucleus Research.
Findings from the research suggest customers are investing in analytics to integrate data sources, streamline data ingestion and leverage predictive analytics and AI as a means toward building a more data-driven organization.
“Prior to 2017, most analytics deployments were a first-generation technology replacing ineffective, homegrown solutions — often based on Excel spreadsheets. As a result, the initial ROI was tremendous due to dramatic time savings and process improvements. But today’s offerings are going far beyond replacing pen and paper with maturing AI and new solutions that enable digital transformation,” said Dan Elman, an analyst at Nucleus Research.
Nucleus analyzed 10 case studies since 2017 to determine the current key drivers for investment in analytics as well as the anticipated returns. Each report was examined for benefits and other outcomes from each deployment in order to isolate the primary benefits that are characteristic of analytics deployments.