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Companies are still struggling to get the most out of their data

analytics
(Image credit: Image source: Shutterstock/ESB Professional)

Nearly half of businesses struggle to access quality data and use it to make informed decisions, a new report from ESG and InterSystems claims.

Based on a poll of 400 IT and business professionals, the report states that underlying data analytics technologies are “failing to deliver on a number of critical functions”, including security (47 percent), complexity (38 percent), and performance (36 percent).

Still, despite these issues, businesses are still emphasizing simplicity and self-service, as they try to democratize data. Their end goal, according to the report, is to provide most of the enterprise with actionable insights which could “alleviate burdens and boost productivity”.

ESG and InterSystems have found that among businesses already using analytics tools, more than half (56 percent) experienced improvements in the performance of both technologies, and employees. Half (51 percent) reported productivity boosts among employees using embedded analytics, and output boosts from their data teams. They also have greater responsiveness to data insights, they said.

At the moment, only in seven percent of organizations do at least half of employees have access to a data analytics platform. Almost half (47 percent) are planning investments in augmented analytics which, if happens, will represent an 88 percent growth in uptake. 

“Enabling more people to use and benefit from data across an organization sounds straightforward,” said Scott Gnau, Head of Data Platforms for InterSystems. “Yet as the results show, many organizations need to overcome significant challenges on a broad front, ranging from data quality to reliability, speed, and limitations on integrations with underlying data sources. Data platforms that can better enable business users to explore and interact with data on their terms with built-in intelligence improves data literacy and collaboration with peers to improve the business.”

Sead Fadilpašić

Sead is a freelance journalist with more than 15 years of experience in writing various types of content, from blogs, whitepapers, and reviews to ebooks, and many more, across sites including Al Jazeera Balkans, TechRadar Pro, IT Pro Portal, and CryptoNews.