by Lars Iffert and Dr. Sebastian Derwisch
Advanced Analytics is still a trend topic. It can form the basis for new business models, more attractive products and services or be used for process optimization. However, it is often unclear what is already feasible and what is unfortunately only desirable. But how are advanced analysis methods actually used today? Which companies predominantly use Advanced Analytics? How far along are the individual industries? Which use cases are actually implemented? The results of the latest BARC Advanced Analytics user survey provide answers to these questions. The annual study analyses the feedback from more than 250 participants from the DACH region. This time, differences between companies that are in the prototyping stage and those that are still predominantly in the operationalization stage will be highlighted.
Advanced analytics usage increasing and initiatives maturing
Advanced Analytics is still at an early stage of dissemination. The proportion of companies that use Advanced Analytics occasionally or frequently has risen slightly from 36% to 43% compared to the previous year. However, the proportion of companies that frequently use Advanced Analytics has doubled – 10% instead of 5% use Advanced Analytics frequently in the company. Looking at the phases of the analytical cycle, it can be seen that the proportion of companies that are in the process of identifying use cases has decreased. On the other hand, the proportion of companies in the prototyping phase is increasing similarly slightly (from 24% to 29%) as the proportion of companies that regularly use advanced analytics for decision support (from 15% to 22%). In total, 72% of the companies that participated in the survey are in the process of prototyping Advanced Analytics solutions and 28% are in the process of operationalizing them.
Strong usage in all user groups
Specialist areas continue to be the most important drivers of Advanced Analytics. In 31 % of the companies Advanced Analytics is implemented by key users from the specialist area. After all, 15% of the companies already have occasional users in the Advanced Analytics departments. This share will certainly increase further – whether consciously or unconsciously through a stronger integration of Advanced Analytics into operational and planning processes. 23% of the respondents stated that advanced analytics analyses are carried out by data scientists. Some companies (15%) have institutionalized additional tasks related to advanced analysis and founded Data Science Labs. 21% of respondents implement Advanced Analytics through a Business Intelligence Competency Center (BICC). BICC is an ideal tool for controlling and developing advanced analytics in daily use.16% of respondents use external service providers.
Companies are in an early phase of operationalization
The operationalization of advanced analytics prototypes is divided into several stages. Users are predominantly in the early stages of operationalization. More than a quarter of companies are currently validating prototypes, implementing a technical deployment or creating user interfaces. 60% to 71% of the companies have not yet transferred any projects into the phases of using these advanced analytics applications and have not yet been able to measure any concrete added value. The validation of prototypes is the phase that causes the greatest difficulties for companies.
Get to know further strategic, technological and organizational approaches as well as best practices of the productive use of Advanced Analytics at the Data Festival on March 20 and 21, 2019 in Munich and take the opportunity to network with other participants, exhibitors, experts and like-minded people and exchange ideas in moderated workshops.