Partner Article

95% of businesses admit they are underutilising analytics

Advanced survey cites lack of understanding and senior buy-in as barriers to adoption

95% of businesses admit they should be making greater use of predictive analytics technology to enhance strategic decision making and improve operational efficiency. These are the findings of research carried out by Source for Consulting in partnership with leading business applications and service provider, Advanced Business Solutions (Advanced).

The report is based on a survey of executives in a variety of roles from 297 UK small and mid-sized organisations, commissioned to determine how companies are currently using analytics and examine existing barriers to adoption.

Advanced’s research highlights that while many businesses have some elements of analytics in place, there is an almost unanimous belief that the technology could have a greater impact if it was more widely utilised. In contrast, just 5% of those surveyed stated that they were realising the full potential from analytics.

Respondents put forward a number of key factors which may cause barriers to adoption. 78% cited the most common reasons were due to a lack of buy-in from senior executives and analytics not being adequately explained to employees. 69% claimed that senior managers were not willing to devote sufficient time to developing the technology.

Simon Fowler, Managing Director, Advanced Business Solutions (Commercial division), says, “Analytics technology has made significant strides in recent times and can help businesses to determine what is going to happen in the future and make more profitable decisions in the present.

“However, while it is encouraging that many have implemented this software, by their own admission the vast majority of organisations need to do more to maximise their initial investment and drive greater value.”

The report shows that 66% and 65% respectively felt that the outputs and benefits were not meaningful or visible enough, while 63% said that their organisation’s expectations were unrealistic about what analytics can do. 35% stated that the lack of a clear owner or champion for analytics created a barrier to a ‘large extent’ but just 10% thought a lack of data was responsible for preventing uptake.

Fowler comments, “Businesses leaders who fail to embrace analytics technology are likely to be left behind by their competitors. For the best results, the software should be implemented throughout an organisation instead of being isolated to a particular department in order to make a highly visible and meaningful impact.

“To overcome resistance it’s also vital to articulate what benefits the technology will provide and how these will be measured. If senior executives are more engaged and clearly understand the value of analytics, they are more likely to commit to investing.”

Advanced offers a variety of software solutions and is continually developing its software to meet the increasing need for analytics technology. The business’s leading scenario planning, procurement and spend analytics systems assist organisations to better predict business outcomes, manage change and enhance their competitive edge.

-ENDS-

Notes to Editors

About Advanced Business Solutions

Advanced Business Solutions (Advanced) provides leading integrated business applications and services that enable public, private and third sector organisations to retain control, improve visibility and gain efficiencies whilst continually improving corporate performance. Advanced prides itself on getting close to its customers by understanding their businesses and responding to their evolving needs.

Advanced’s software systems comprise core accounting/financial management, procurement, supply chain management, human resource, payroll and customer relationship management systems. These systems are integrated with a range of collaborative, document management and business intelligence solutions to extend the value and effectiveness of front and back office departments.

Management information systems for school and academies are provided through Advanced’s subsidiaries, Advanced Learning and Compass Computer Consultants. Advanced also provides specialist vertical solutions for the not-for-profit, sports, arts, live events and legal markets. All solutions can be delivered as a managed or bureau service.

Customers are from both the public and private sectors and include Companies House, Newcastle City Council, NHSScotland, Norfolk Constabulary, Edge Hill University, WH Smith, Royal Bank of Scotland, Aer Lingus, National Express Group, DFS, Liverpool FC, Goodwood, CIPD and RSPB.

Advanced Business Solutions is a division of Advanced Computer Software Group Limited, a leading supplier of software and IT services to the health, care and business services sectors. In 2014, the Group won Tech Company of the Year in PwC’s UK Tech Awards. Advanced was also ranked in the Deloitte UK Fast 50, which recognises the 50 fastest growing technology companies in the UK and ranked in the top 300 technology companies in Deloitte’s EMEA rankings.

http://www.advancedcomputersoftware.com/abs/

Press Contacts:

Angela Mycock and Ben Carey, Advanced Computer Software Group pr@advancedcomputersoftware.com +44(0)1625 856 513

This was posted in Bdaily's Members' News section by Advanced .