Affecto – One of Sweden’s premier Business Intelligence consulting company has published a new report which is the result of a survey done in spring of this year, highlighting the value of Business Analytics and Information Management for Nordic Organizations.
A similar survey was published by Affecto back in 2010 but it was still headed “Business Intelligence”. At the time only one third of the companies had documented their BI strategy while 47 per cent were in the process of initiating strategy work.
This time the survey’s main focus was on technologies used, the benefits generated for various functions and the degree of maturity of BI strategies. The current survey looks into the measures taken or planned by Nordic organizations and the business benefits delivered by the projects. The results are that two thirds of the respondents report having engaged in development efforts during the past three years while over 70 per cent report that they will launch a project to establish a BI organization during the next two years. Of those who had prepared a BI strategy and established a BI organization, 90 per cent declares having attained the objectives set for the projects. This is some impressive progress.
The survey covered the following 10 topics from various dimensions:
- Data Quality and Data Governance
- Budgeting and Planning
- Strategy and Organization
- Collaborative Decision Making
- Advanced Analytics
- Profitability Management
- Dashboards and Scorecards
- Financial Consolidation
- Big Data
The respondents to the survey came from 300 largest organizations amongst Affecto’s clients. The sector split is as follows:
Retail and services – 33%
Industry – 33%
Public sector and healthcare – 24%
Others – 10%
Here are some very interesting and key highlights of the survey:
- Between 71 to 99 percent of the respondents considered business analytics and information management as highly important.
- Traditional reporting remains the bedrock of business
- Additionally the importance of Data Quality, Data Governance and Budgeting and Planning has increased as a result of the growing volumes of information and the consolidation of data warehouses greatly assisting business operations and accelerating decision making.
- 90 per cent of the respondents indicated having taken steps during the past 2 years to develop reporting.
- Two thirds of the respondents stated that they launched initiatives in the areas of data quality and data governance and budgeting and planning.
- Over 50 per cent of the respondents reported that they were implementing projects related to all the ten topics covered by the survey.
- Most of the future development projects were related to reporting (89%), data quality and data governance (85%), and budgeting and planning (76%).
- Over 40 per cent indicated that they had developed operations in new areas such as Big Data.
- Compared with many other IT projects, the efforts to develop business analytics and information management have been exceptionally successful.
- On an average every second organization has taken initiatives in at least 5 of the 10 topics on the survey.
If you are interested in reading the detailed survey results, the report can be downloaded at: http://www.affecto.se/Kunskapsbank/Affecto-Nordic-Survey-2013
You can read the blog post about the report by Affecto’s Business Advisory Expert, Daniel Rexed at (in Swedish): http://www.affecto.se/Blogg/Trender/BI-sa-in-i-Norden-star-vi-och-stampar
DISCLAIMER: I am in no way associated with AFFECTO. The sole intent of this post is to spread the information about the survey as I found the results interesting.