Gartner: Advanced Analytics Is a Top Business Priority
October 22, 2014
Share this

Gartner, Inc. said advanced analytics is a top business priority, fueled by the need to make advanced analysis accessible to more users and broaden the insight into the business. Advanced analytics is the fastest-growing segment of the business intelligence (BI) and analytics software market and surpassed $1 billion in 2013.

"While advanced analytics have existed for over 20 years, big data has accelerated interest in the market and its position in the business," said Alexander Linden, Research Director at Gartner. "Rather than being the domain of a few select groups (for example, marketing, risk), many more business functions now have a legitimate interest in this capability to help foster better decision making and improved business outcomes."

IT and business leaders must expand their efforts to move their organizations from using only traditional BI that addresses descriptive analysis (what happened) to advanced analytics, which complements by answering "why", "what will happen" and "how we can address it".


Source: Gartner (October 2014)

"While basic analytics provide a general summary of data, advanced analytics deliver deeper data knowledge and granular data analysis," added Linden. The rewards of data-driven decision making can be a powerful boost to business outcomes. However, creating value from data requires a range of talents, from data integration and preparation, to architecting specialized computing/database environments, to data mining and intelligent algorithms. "Extracting value out of data is not a trivial task," said Linden. "One of the key elements of any such 'making sense out of data' program is the people, who must have the right skills and capabilities."

Data scientists in the organization support big data initiatives for which the No. 1 use case is enhancing customer experience. According to Gartner's latest global big data survey conducted in 2014, 68 per cent of respondents said that they use big data to enhance their customer experience. This is the third year customer experience has been a top business problem to address.

"Data scientists are not business analysts," said Linden. "They are professionals with the capability to derive mathematical models from data to reap clear and hard-hitting business benefits. They need to network well across different business units and work at the intersection of business goals, constraints, processes, available data and analytical possibilities."

Ultimately, data science is inevitable as it can help extract various kinds of knowledge from data, for example, how to acquire new customers (database marketing), how to do more cross-selling (via propensity-to-purchase modeling), information on route optimization, drug design and demand or failure prediction.

"Whether an organization calls the role data scientist or something else, individuals (or teams of professionals) with these core skills and soft skills will prove essential in maximizing the realized value of your information assets, and discovering opportunities for enhanced business performance and competitive advantage," said Linden.

About Gartner's Global Big Data Survey: The Gartner survey of 302 Gartner Research Circle members worldwide, which was conducted in June 2014, was designed to explore organizations' technology investment plans relating to big data, stages of big data adoption, business problems solved data, technology and challenges and compare the results with those from previous years.

Share this

The Latest

May 22, 2017

APMdigest asked experts across the industry for their opinions on the next steps for ITOA. Part 5 offers some interesting final thoughts ...

May 19, 2017

APMdigest asked experts across the industry for their opinions on the next steps for ITOA. Part 4 covers automation and the dynamic IT environment ...

May 18, 2017

APMdigest asked experts across the industry for their opinions on the next steps for ITOA. Part 3 covers monitoring and user experience ...

May 17, 2017

APMdigest asked experts across the industry for their opinions on the next steps for ITOA. Part 2 covers visibility and data ...

May 16, 2017

Managing application performance today requires analytics. IT Operations Analytics (ITOA) is often used to augment or built into Application Performance Management solutions to process the massive amounts of metrics coming out of today's IT environment. But today ITOA stands at a crossroads as revolutionary technologies and capabilities are emerging to push it into new realms. So where is ITOA going next? With this question in mind, APMdigest asked experts across the industry — including analysts, consultants and vendors — for their opinions on the next steps for ITOA ...

May 15, 2017

Digital transformation initiatives are more successful when they have buy-in from across the business, according to a new report titled Digital Transformation Trailblazing: A Data-Driven Approach ...

May 11, 2017

The growing market for analytics in IT is one of the more exciting areas to watch in the technology industry. Exciting because of the variety and types of vendor innovation in this area. And exciting as well because our research indicates the adoption of advanced IT analytics supports data sharing and joint decision making in a way that's catalytic for both IT and digital transformation ...

May 10, 2017

Colin Fletcher, Research Director at Gartner, talks about Algorithmic IT Operations (AIOps) and the challenges and recommendations for AIOps adoption ...

May 09, 2017

In APMdigest's exclusive interview, Colin Fletcher, Research Director at Gartner, talks about Algorithmic IT Operations (AIOps) and how it will impact ITOA and APM ...

May 05, 2017

Microsoft is expected to essentially wind down Windows 7 support by 2020 so inevitably Windows 10 will be on the IT task list. It would be beneficial, now, to examine some of the issues relating to migrating to Windows 10 OS and how these pain points can be alleviated and addressed. Here are 7 practices that are key to facilitating migration ...