INFORMS survey shows most organizations don't have plan to assess their analytics maturity

November 10, 2014

According to a new INFORMS® survey of 230 business, government and academic representatives released today, the concept of "analytics maturity" is important or very important to their businesses (65 percent). Yet, 82 percent of those same respondents admitted they do not have a plan, model, or any other mechanism in place for measuring the efficacy or maturity of their analytics best practices over time.

Some 47 percent of those surveyed attributed the lack of analytics maturity modeling to the fact they don't believe it will help their businesses thrive, while 21 percent said they cannot afford an analytics maturity model solution.

"The ability to fully assess the maturity level of an organization's analytics best practices is paramount to their efficacy," said Aaron Burciaga, senior manager, operations analytics at Accenture. "With more access to information than ever before, organizations must have a strategy in place for how they leverage data and analytics, and assess the maturity of their programs to empower decision making and drive organizational strategy."

Other survey findings are: In another announcement made today, INFORMS announced the launch of a unique new Analytics Maturity Model that is designed to help organizations of all sizes scrutinize the way they are using analytics across the business, and determine how they can improve their best practices over time. Whether an organization is in its initial stages of using analytics to improve business processes or is at a more advanced level, the INFORMS Analytics Maturity Model approach helps assess strengths and weaknesses across an organization in three important areas of analytics: the organization itself, its analytics capabilities and its data and infrastructure.
-end-
Survey Methodology

The INFORMS 2014 Analytics Maturity Survey was conducted online by Survey Monkey on behalf of INFORMS. The poll, which gathered feedback from over 230 analytics and line of business professionals globally, was conducted over a two week period in October 2014.

About INFORMS

INFORMS is the leading international association for professionals in analytics and operations research (O.R.). INFORMS advances research, and develops and promotes best practices in analytics and O.R. through collaboration, knowledge sharing, and professional development. INFORMS helps business, government, and other organization professionals make better decisions to drive value to their organizations and society. Our certification program (CAP®), highly cited publications, educational meetings and conferences, continuing education, industry and process focused networking communities, competitions, and recognition provide professionals with the knowledge and connections they need to achieve ever greater value for their organizations. Further information about INFORMS can be found online at http://www.informs.org or @informs.

Institute for Operations Research and the Management Sciences

Related Business Articles from Brightsurf:

3D printing -- a 'dusty' business?
3D printers are becoming increasingly popular. They can be used to create a wide variety of three-dimensional objects based on computer templates.

Business-to-business customers expect personal service in online chat
Companies engaged in business-to-business (B2B) sales are also increasingly moving their activities online, but their online chat services and customer interaction have not been studied much yet.

Entrepreneurs have different storytelling styles for presenting business
New pioneering research shows that entrepreneurs communicate to strengthen their professional image and stakeholder relationships -- and avoid blaming others.

Gender quotas in business -- how do Europeans feel?
Despite years trying to bring more women to the top boards of business, the proportion of women on the committees of companies is tiny.

Carbon dioxide capture and use could become big business
Capturing carbon dioxide and turning it into commercial products, such as fuels or construction materials, could become a new global industry, according to a study by researchers from UCLA, the University of Oxford and five other institutions.

How NASA is becoming more business friendly
A new case study demonstrates the steps being taken by the US National Aeronautics and Space Agency (NASA) to make it easier for small businesses and entrepreneurs to understand its needs and do business with it.

Finding the 'Goldilocks' level of enthusiasm for business pitches
Georgia Institute of Technology researchers found how long an entrepreneur displays the highest level of excitement during a pitch also plays a major role in predicting success in receiving funding.

Bosses who put their followers first can boost their business
Companies would do well to tailor training and recruitment measures to encourage managers who have empathy, integrity and are trustworthy -- because they can improve productivity, according to new research from the University of Exeter Business School.

Bacteria rely on classic business model
The pneumonia causing pathogen Pseudomonas aeruginosa has developed a twin-track strategy to colonize its host.

Even small gifts boost business
If a sales agent brings their customer a small gift, the customer is much more likely to make a purchase, a study by the university of Zurich has shown.

Read More: Business News and Business Current Events
Brightsurf.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.