A new report today released by IBM Institute for Business Value (NYSE: IBM) and MIT Sloan Management Review sampled nearly 3,000 executives and business analysts from 108 countries and 30 industries. According to the report highlights in this PR Newswire release, top-performing companies are three times more likely to be leading users of analytics. They are also two times more likely to shape future business strategies and guide day to day operations based on analytics.
"The study found that despite popular opinion, organizations today are far less concerned about data deluge issues but rather feel hindered by traditional management practices. Respondents cited the top three obstacles to widespread analytics adoption in their organizations as: lack of understanding about how to apply analytics to improve their business, lack of bandwidth due to competing priorities, and lack of skills in the line of business.
"The data shows that many organizations are facing a similar challenge. They are getting better at generating insights from information and analytics, but they face real difficulties in driving those insights to action."