Inaugural State of Data Insights Report Shows Disconnect Between the Number of Organizations Investing in Analytics and Their Ability to Find the Insights They Need to Build a Data-Informed Culture
REDWOOD CITY, Calif. – May 25, 2017 – Interana, the leader in interactive behavioral analytics, today announced findings from its inaugural State of Data Insights Report. Interana surveyed nearly 200 respondents from a variety of companies and roles––ranging from startups to Fortune 500 companies, C-level executives and VPs to individual contributors––to assess how today’s businesses access, use, and analyze data. Results indicate that the majority of respondents find shortcomings in their current analytics solutions, with nearly 70% of organizations encountering behavioral questions on a weekly to monthly basis that they could not answer using their current tools.
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Analytics Need to be Accessible, Fast, and Flexible
As organizations continue to learn how to turn the massive amounts of data they collect into insights that lead to action, they need solutions that are flexible, fast, scalable, and available to the majority of employees. Yet, the Interana survey demonstrates that these key functions are not always easy to obtain. Nearly a third of those surveyed cited slow query speeds as one of their top analytics pain points, with 73% of those surveyed indicating that it takes days to weeks to get the behavioral data insights they need. Flexibility was another major concern, with nearly half of respondents (43%) stating that their current analytics solutions are not flexible enough to meet their needs.
Other Key Report Findings
- Current analytics solutions aren’t meeting business needs.
- While the majority of companies (88%) understand the importance of being data-informed and having an analytics solution in place (91%), many struggle when it comes to delivering analytics solutions that are accessible, fast, and flexible enough to give them the insights they need.
- The majority of respondents found shortcomings in their current analytics solutions, with nearly 70% of organizations encountering behavioral questions on a weekly to monthly basis that they could not answer using their current current tools.
- Analytics is becoming more important to a wider variety of people.
Analytics consumers come from various teams and bear various titles, with no single team or title comprising an overwhelming majority.
- The heaviest analytics consumers are in product management (20%), engineering and product development (20%), and marketing (16%), but can be found in almost every standard department, from growth to IT to operations.
- Most analytics users are in a management or strategic decision-making role in some capacity (76%)—but they do not dominate any one type of role or title.
- Most respondents cannot answer data questions themselves.
While many of the organizations surveyed reported actively using analytics solutions, 62% of respondents claimed that only a select few people within their organization are equipped with the right tools or knowledge to make data-informed decisions.
“One of the reasons digital businesses such as Facebook and Google have been so successful is that all of their employees have access to information about what’s going on in their business,” said Bobby Johnson, co-founder and CTO at Interana. “This access to data allows everyone to iterate quickly, and therefore innovate quickly. Companies that are able to effectively put data in the hands of employees across their business will be able to benefit from the same kind of agility and innovation that has worked so well for the world’s most successful companies.”
“Having an analytics solution in place is now table stakes––nearly every organization is using one in some capacity,” said Aditya Vempaty, vice president of marketing at Interana. “Through the State of Data Insights survey, we found that for today’s digital businesses to effectively compete, they need an analytics solution with the right combination of speed, flexibility, and accessibility.”
For more insights on the state of data cultures, download the full State of Data Insights report here: https://www.interana.com/state-data-insights-2017/
Global businesses like Tinder, Sonos, Microsoft, and Uber use Interana to interactively explore real behavior to inform everything they do. From product and data to customer success, Interana helps teams across the organization analyze every swipe, every play, and every search in seconds. Start exploring data today by signing up for the live public demo.
Bhava Communications for Interana