Over the last 5 years or so, business analytics have become increasingly essential for decision makers and business leaders. This trend is evident by some recent, 2016 survey results. As of this point in time, over half of the surveyed respondents strongly agree that business intelligence analytics play a significant role in their company.
An even more significant finding? 89 percent of users say that the importance of data in their jobs has significantly increased in the last year.
While business data is typically used across all aspects of a company, it is found to especially help in certain areas. Those that benefit the most are logistics/operations (58 percent), marketing (52 percent) and sales (52 percent). And unsurprisingly, those that try to use data the most can be found in the marketing department.
But, like we said, analytics can be used throughout an entire business, having a direct impact on business decision making; thus yielding many other benefits. The top three benefits of analyzing BI data are improved efficiency (26 percent), data management (25 percent) and business strategy development (18 percent).
But, business acumen still has its place. Without it, we can’t use the data to make better decisions. But in some cases, even if the C-Level leader or business executive knows the answer, or knows exactly how they want to do something, they still need to prove it in order to get the “okay.”