Insight Mastery Research Findings

To understand more about the powerful need for Insight Mastery….here are a few research findings.

Need for improved decision making

Gartner suggests that even by 2012, more than a third of the top 5,000 global companies will fail to make “insightful decisions about significant changes in their business and markets”.

A survey of 300 C-suite-level executives across 16 countries by the Chartered Institute of Management Accountants and the American Institute of Certified Public Accountants found 72% of companies experienced at least one strategic initiative failure in the last three years because of delays in their decision-making process.

42% claimed to have lost competitive advantage to a more agile competitor through slow decision making, with 29% citing organizational silos and bureaucracy as a the biggest reason for coordination problems.

Too much information for executives

According to the report, conducted by Kelton Research, more than half of business and IT executives report they feel overwhelmed by the amount of data their company manages. And, many report they are often delayed in making important decisions as a result of too much information.

Despite the fact that employees and management are overwhelmed by big data, they are still asking for more, and they want it even faster — 61 percent of executives say so. And, one-in-three say they desire even more sources of data in order to perform their job better. This desperation for getting the right information to make business decisions is placing more pressure on executives to consume even more data; forming an addiction to data in absence of good business information.

Desire to save money

Executives need to become more savvy on how to use information for competitive advantage. They need tools to see the trends. They also need to information to reduce stress levels – to communicate easier, to save time, and to improve compliance,

Companies look to eLearning when budgets and time are tight. Head count cuts mean more work must be done by less people.

BI technology

It is not uncommon for 60-70% of BI features built not used – need more insight into how the business is to use the tools and more user training in using the numbers, not just using the tools.

83% Executives cite BI and analytics as the technology that will deliver the most competitive advantage – IBM Global CIO survey

The outcome is that businesses today have three options:

Lead, Follow, or Get Out of the Way

If you choose to lead….Insight Mastery is the way ahead.

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