Organizations are placing increasing importance on analytics. Decisions that leverage data should be a high priority for every organization. The good news? For a growing number of businesses, it is.
Accenture surveyed 600 analytics practitioners in the United States and the United Kingdom across various industries and found:
- Analytics has arrived. One-third of companies surveyed report that they are aggressively using analytics across the entire business. The primarily predictive use of analytics has nearly tripled in size since 2009.
- Analytics is in wide use. Only fewer than 10 percent of respondents report that their companies are not making any use of analytics.
- Leadership is on board with analytics. Two-thirds of survey respondents rated their senior management team to be committed to analytics.
Analytics has won acceptance. Now what? Many executives say integration of analytics is a key challenge, while others struggle to find the right internal talent—only one in five companies is happy with the ROI from analytics. What can be done to achieve a return on analytics investment? How do these findings apply to the insurance industry?
Join me in the coming weeks as I look at how insurers can overcome barriers on the journey to analytics ROI.