What is keeping organizations from effectively using data analytics?
According to Harvard Business Review (HBR), close to 50% of respondents complain staff have poor data analytics skills when interpreting and using analytics which is proving a major stumbling block for growth.
The Uncovering the keys to becoming truly analytics-driven research, sponsored by Mastercard, consulted 744 business executives around the world in a variety of industries.
With businesses placing more importance on analytics, data tops the list of investment priorities.
However, HBR says that only 18% of the respondents say their organizations are getting a sufficient return on their investment in analytics.
Data is readily available in abundance. However, as little as a quarter of the respondents claim their executives consistently use analytics in strategic decision-making.
Equally concerning is that when the executives use “gut feel”, it contradicts the insights derived from the analytics, compared to only 15% who emphatically stated they relied on the analytics.
Learning Evolution offers a mix of comprehensive and accredited online courses.These will help with much-needed skills on how to interpret data and analytics as well as develop actionable insights for customers and products.
Or drop us an email on email@example.com for more information.
Other popular reads you may find useful are:
Insights for continued category management success
Retail salaries by the numbers
Be a category analyst or manager