Analytics-driven organisations outperform competition
In an era in which information is more pervasive than ever before, many organisations are still operating with blind spots, and some of the most critical decisions continue to be made on the basis of gut feel, anecdotal evidence or pieced together spreadsheets.
This is despite research that organisations that are driven by business intelligence analytics are actually three times more effective than their rivals. Clients of the business intelligence dashboard from Panintelligence are aware of its benefits in making it easier for them to interpret the constantly growing volumes of data relating to their business.
Data flowing into businesses comes from an expanding range of sources and the Panintelligence dashboard helps them make more informed business decisions, leading to greater efficiency and profitability. The application allows them to monitor the most important performance indicators, meaning that they can better anticipate and shape business outcomes.
Delivering real insight
The IBM Institute for Business Value and MIT Sloan Management Review carried out a study of almost 3,000 executives that uncovered the positive impact that business intelligence can have in equipping companies with the true insight that they need to make meaningful changes, accelerate growth and outperform competitors.
The findings back up the hypothesis that analytics-driven organisations really do see greater market success. Among the findings of this and other research are that companies that invest in business analytics and optimisation (BAO) are better able to manage business performance as a result of improved insight, recording 33 percent higher revenue growth, 12 times more growth in profits and 32 percent higher return on invested capital.
Well-performing organisations are able to leverage analytics to know the odds of success in advance of making decisions, with a 15 times greater likelihood of predicting and preparing for the future via the proactive evaluation of trade-offs.
Outperform your peers
There is also a three times greater likelihood of organisations with well-established analytics capabilities outperforming their peers than those that are only just beginning to adopt it.
On average, across a broad range of business activities, there is a 5.4 times greater likelihood of a top performer preferring analytic approach to instinct, while high-growth companies’ CIOs proactively craft information into actionable information 61 percent more often, as well as being 29 percent more likely to ensure the reliability and security of data.
This strong evidence shows the worth of business intelligence software – such as that from Panintelligence – in better equipping organisations to drive themselves forward. Clients benefit from an holistic view of their business which helps them make decisions based on up to date information, providing a top level, interactive view, of their business at all times.
Written by Zandra
Zandra is the co-founder and CEO of Panintelligence. She not only drives the product and the Sales Team forward but is also instrumental in evolving the innovative culture of Panintelligence. When Zandra isn’t in the office she can be found with her family, as well as painting, running, and leading her Leeds Lean in Ladies Circle. Basically, she never stops.