Maximising Value from your Data

In today’s global business environment, data is king – and it has been for some years. A 2018 MicroStrategy survey found a majority (52%) of business worldwide employed a Chief Data Officer, while a greater majority (57%) made use of advanced and predictive analytics.

Collecting, storing, and analysing data has become the Holy Grail for many organisations, whether or not they use SAP. Yet, while data may be king, our latest survey of 116 SAP user organisations across the UK and Ireland highlights that many organisations still face challenges maximising its value.

More than three-quarters (76%) of respondents said their business intelligence and data analytics needs have increased in the last 12 months. And, 69% face challenges in gaining business intelligence from data because it is spread across their environment on multiple platforms.

When respondents were asked about their most pressing business intelligence needs, data accuracy and consistency (26%), dashboards and visualisation (23%), and data governance (18%) were the most commonly cited.

Almost two-thirds of respondents (64%) said they face challenges around data accuracy and consistency, while four-in-ten organisations said they lacked the necessary skills (41%) and technologies (41%) to make full use of their data.

Our Analytics Symposium earlier this month was aimed at helping organisations navigate data challenges, with a range of speakers on topics including SAP Analytics Cloud, data preparation and digital transformation. Speakers included Timo Elliott, SAP’s Innovation Evangelist, who highlighted how SAP user organisations can maximize the value of their existing data and use it to unleash more agile business transformation.

The Symposium also hosted a fascinating case study on effective data management from Trevor Cowan, Howdens Joinery’s business intelligence guru. In a wide-ranging talk, Cowan explained how the firm used machine learning to deliver production optimisation and improve customer satisfaction.

Data remains a hot topic for many of our members – so please keep an eye out for our upcoming Data Analytics Report and SUGTalks podcast on the topic!