The market for analytics platforms is growing, and the end of the spreadsheet is briefly announced. However, new research by Deloitte among 1,048 executives shows that they still prefer the spreadsheet.
62 percent of respondents in the survey still rely on spreadsheets for their insights, writes ZDNet. 76 percent say that their analytical maturity has grown over the past year, but the vast majority still use traditional tools.
Business Intelligence
This not only concerns spreadsheets, but also business intelligence programs (58 percent). According to IBM, these tools are, for example, Microsoft Power BI or IBM Cognos, which are commonly used variants.
However, 67 percent of companies have at least one advanced tool. This could be SAS, an open source tool such as R, a programming language such as Python or an artificial intelligence (AI) tool.
Deloitte is also optimistic about AI as a replacement for the spreadsheet. 46 percent of the respondents say that AI is an important initiative for the coming years.
Not adult
Many executives find, however, that their company is not mature in the field of adoption of analytics. Only 37 percent think that their company is fairly mature in this.
The remaining 63 percent know about analytics, but lack the technological infrastructure, still work in silos or are expanding their ad hoc capabilities. 67 percent also feel uncomfortable using data from their existing tools and resources.
This data is mainly structured, according to the research. 64 percent only rely on structured data from internal systems or resources in analytics. This means that insights from unstructured sources such as social media reactions and product images are not used.
Using Analytics
The authors of Deloitte’s research believe that it is important for everyone to use data analytics. They want more education and training in this area.
They also encourage the expansion of tools to help use both structured and unstructured data insights and implement a single master system of analytics for the organization.
This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.