competing smarter with advanced analytics
TRANSCRIPT
sap.com
What are the biggest business and data-related challenges executives see?
Executives offer Top 5 success factors for market-facing data initiatives
report data and analytics silos within their organizations
Leading practitioners in advanced analytics are combining internal data with external data…
External data sources% of all respondents
Social media data
Third-party marketing analytics
Data from public/government databases
Credit rating data
Geolocation data
Aggregated tracking data from third parties
46%
39%
35%
33%
33%
21%
Internal data sources% of all respondents
Customer data
Sales transaction data
Pricing data
Supplier/Supply-chain data
E-commerce data (internal)
CRM data
Manufacturing data
Mobility analytics
Sensor-based data
56%
44%
36%
33%
31%
29%
26%
24%
19%
…to create leading-edge analyses of their competitors and markets
Source: A commissioned study conducted by the Economist Intelligence Unit on behalf of SAP, September 2015.
For more results and recommendations, read the EIU Thought Leadership Paper sponsored by SAP, “Competing smarter with advanced data analytics.”
Competing smarter with advanced analytics
In June and July 2015 the Economist Intelligence Unit conducted a global survey of 300 leaders in data analytics. The respondents include companies with over $500 million in annual revenue, represent 20 different industries, and hold senior positions in their companies – including 50% C-level executives. The goal was to assess trends in the use of market-facing analytics.
The �rst generation of data analytics:Historically, the focus of data has been inside the company’s four walls due to internal data being:• Available, controllable, and more easily integrated• Focused on internal operations – supplier ef�ciency, transaction analytics, etc.
2 Modernized
software
1 More experience in data analytics
4 New third-party
data sources
But four emerging trends are enabling
creative new uses of data that enable companies to
go on the attack.
3 Cloud-based
computing power
What market-facing initiatives are advanced analytics practitioners experimenting with?
50% are beating competitors’ pricing with price optimization
44% are tracking competitors’ brands with social media
42% are using predictive analytics to forecast market demand
…and report signi�cant bene�ts.
Survey respondents report high levels of satisfaction with their advanced analytics initiatives…
Also, 1 in 5 report new customers and increased market share as major bene�ts.
80%
91%
overall satisfaction
say they are likely to pursue further market-facing advanced analytics initiatives
41% cost savings
33% creation of new business opportunities
26% increased revenues
Select the right initiative
Deploy a team with the right skills
Use the best software
Obtain executive support
Collaborate between IT and business units
42%
38%
34%
33%
33%
43%
Other top challenges include
gaining suf�cient executive support
developing a holistic view
lack of personnel with suf�cient expertise
41%
41%
41%
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