Making Analytics Accountable: 56% Of Executives Expect Analytics to Contribute To 10% Or More Growth in 2014

Author

Louis Columbus, Contributor

December 12, 2014

56% of enterprise executives say 10% or more of their growth will be related to analytics in 2014.   By 2019, 81% of senior executives see analytics being a major contributor to 10% or more of their companies’ growth.

Analytics are also making major contributions to the U.S. and European economies.  61% of senior executives in the U.S. and 58% in Europe say data analytics are important to their company’s plans for hiring more employees.

These and other insights are from a study published today by BSA | Software Alliance.  The association recently  a survey by Ipsos Public Affairs, where 1,500 senior executives and business decision-makers across the United States and Europe were polled about the role of data analytics in their companies.

BSA | Software Alliance provided a summary of the survey in the following blog post, Executive Survey Shows the Benefits of Data Innovation Across the Whole Economy You can find the announcement of the results here, Data Analytics Important to Two-Thirds of US, European Companies, Executive Survey Finds.  The association also hosted a live webcast today at The National Press Club, which is viewable here.

John Nesi, VP Market Development, Rockwell Automation made many excellent points during his part of the webcast, including the need for greater visibility from the shop floor to the top floor of manufacturing operations.  He mentioned how important cloud computing is to the future of manufacturing and the connected enterprise.  Plex Systems and their rapid advances in cloud-based ERP systems exemplify the trends of the connected enterprise.

Key take-aways from the study include the following:

  • Better serving customer needs (79%), increasing sales and revenue (76%), finding opportunities to expand into new markets (72%), creating new products or services (70%) and adding jobs & hiring employees (61%) are the areas where US business decision makers say data analytics will be important to their plans through 2019.
  • Data analytics are important to all companies regardless of their size, with the survey finding the majority of small businesses with 50 or fewer employees being among the most pervasive adopters (60% adoption rate in this category alone).
  • 39% of European enterprise executives expect 10% or more of their companies’ growth will be related to analytics in 2014.  By 2019, 63% of European enterprise executives expect 10% or more of their companies’ growth will be attributable to analytics.  For a summary of how data analytics benefit the European economy please see the following infographic.

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