Data, BI & Analytics Trend Monitor 2021 cover

Infographic: “Data, BI & Analytics Trend Monitor 2021”

The BARC report “Data, BI & Analytics Trend Monitor 2021” examines the importance of a number of current market trends from an end-user perspective.

Based on a survey of 2,259 data management, BI and analytics practitioners, this infographic highlights some of the key findings from the study.

Click here to find out more and download the full study.

Data, BI & Analytics Trend Monitor 2021 infographic

 

Click here to find out more and download the full study.

The Future of Analytics cover

Press Release: Advanced Analytics Will Gain Traction – but Only if Data and Analytics Literacy Keeps Up

PRESS RELEASE – WÜRZBURG, October 29th, 2020

BARC (Business Application Research Center) releases the results of its new topical survey “The Future of Analytics”. The global survey gives insights into current use of advanced analytics and sheds light on its future development in terms of its role for companies, relevant user groups, processes and technologies. The study is available for download free of charge thanks to sponsorship by Dataiku, Qlik and Tableau.

Key findings

  • #1: Implementing analytics requires a mix of the right technology, education, strategy and internal marketing
  • #2: Automated machine learning and augmented analytics can support experts but will not replace data science teams in the future
  • #3: Data management and analytics literacy needs to be improved

Tools, skills and strategy drive advanced analytics forward

Although advanced analytics has been a hot topic for several years now, promoting it within the organization is the top priority for its successful use. 97 percent of survey respondents regard it as important to promote analytics, as well as data understanding and competence, within their company. Having the right tools for the right users is rated as the second most important requirement (95 percent).

aspects of advanced analytics

How important are the following points in the successful use of advanced analytics in your company? (n=298) © BARC

Another important point is the definition of a holistic data strategy. In terms of future investment priorities, improving data management is rightly seen as a top priority by 64 percent of respondents. “It is not surprising that improved data management is considered a success factor and an investment priority,” said Alexander Rode, Analyst and Data Scientist at BARC and co-author of this survey. “Advanced analytics requires access to data for entire new user groups, making new data sources accessible and establishing relationships between data beyond traditional data warehouse models.”

AutoML makes data scientists and business analysts more efficient – but won’t replace them any time soon

With automated machine learning applications (AutoML), mathematical models are trained, optimized and evaluated automatically on the basis of data selected by humans. More than 80 percent of respondents see AutoML solutions as a way to make business analysts and data scientists more efficient. But expert knowledge is still required to use these solutions and interpret results. While 79 percent of respondents see AutoML being increasingly used by data scientists, only 53 percent see business analysts, who often lack deep statistical knowledge, using these tools.

automated machine learning

To what extent do you agree with the following statements regarding automated machine learning (AutoML)? (n=277) © BARC

Only 20 percent anticipate that the roles of data scientist and business analyst will be replaced by automated machine learning solutions. “This makes sense as there are many analytical tasks that require human intervention, such as problem formulation, selection of the right method and error measure, and interpretation of results,” explained Rode. “Data science still requires human input on, for example, the definition of use cases, the evaluation of results and decisions about whether to operationalize a prototype and integrate solutions into the organization.” 

About the survey

The Future of Analytics” is a BARC market research study that examines the future prospects for the development of advanced analytics in terms of its role for companies, relevant user groups, processes and technologies. It is based on a worldwide survey of 317 companies of various sizes and industries. The authors of the study are BARC Analysts and Data Scientists Dr. Sebastian Derwisch and Alexander Rode.

Useful links

Further information about “The Future of Analytics” and to download the study
Infographic

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For further information, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de

The Future of Analytics cover

Infographic: “The Future of Analytics”

Advanced analytics has come a long way in recent years since the hype around big data ignited. Since then, a considerable number of companies have prototyped analytics solutions and sought to operationalize them.

BARC’s study “The Future of Analytics” is based on a global survey of 317 professionals working with advanced analytics. It examines the future prospects for the development of advanced analytics in terms of its role for companies, relevant user groups, processes and technologies.

This infographic highlights 4 key findings from the survey.

Click here to find out more and download the full study.

The Future of Analytics infographic

 

Click here to find out more and download the full study.

BARC analyst Timm Grosser

Briefing Insights: The Talend Business User Offensive

Timm Grosser, BARC’s Senior Analyst for Data Management, offers some takeaways from his recent briefing with Talend, creators of the Data Fabric platform.

BARC analyst Timm Grosser

Briefing Insights: Zeenea – The Adaptive Data Catalog

Timm Grosser, BARC’s Senior Analyst for Data Management, looks at Zeenea, the young and growing French data catalog software provider.

Sound Decisions in Dynamic Times cover

Press Release: Fast Results Are a Must for Corporate Management

PRESS RELEASE – WÜRZBURG, September 29th, 2020

BARC (Business Application Research Center) today published the results of its topical survey “Sound Decisions in Dynamic Times – Forecasts and Simulations Support Modern Corporate Management”. The user survey of 275 companies examines how companies are adapting to an increasingly dynamic environment. The study is available for download thanks to sponsorship by Board, Corporate Planning, Cubeware, Jedox, OneStream and Unit4.

Key findings

  • #1: Static methods and outdated tools fail in a dynamic environment
  • #2: Forecasts are replacing classical budgeting as the central instrument for corporate management
  • #3: Simulations are the basis for the sound analysis and evaluation of action alternatives, opportunities and risks

Constant change is the only constant in volatile times

The dynamics to which companies are exposed are being massively increased, not least by the global COVID-19 pandemic. The rapidity with which COVID-19 has overturned many things previously considered safe has brought the challenges of dynamics, volatility and complexity painfully back into focus.

As expected, 89 percent of the survey participants confirmed that the dynamics in their field of business have increased in recent years. This applies generally to all company sizes and industries. Only a few organizations from the public sector reported a constant dynamic (23 percent). “Due to enormous upheavals in the markets, many established approaches to corporate management are coming under increasing pressure,” said Dr. Christian Fuchs, Senior Data & Analytics Analyst at BARC and co-author of the study.

Planning dynamics

Figure 1: How have the dynamics in your business field developed in recent years? (n=274) © BARC


Greater efficiency and effectiveness through acceleration, integration and automation

In order to withstand the increasing dynamics and pressure and remain capable of making decisions, half of the companies surveyed said they need to update their plans and forecasts more frequently. Many are therefore converting classic year-end forecasts to rolling forecasts (42 percent), which significantly improves their contribution to controlling.

The increased automation of forecasts is another means of enabling more meaningful simulations according to 43 percent. “Greater automation must always be critically examined, especially in the context of dynamics. While automation reduces reaction times and increases the transparency and consistency of results, it can also inhibit flexibility,” explained Robert Tischler, Senior Data & Analytics Analyst at BARC and co-author of the study. “Systems with sophisticated automation can therefore fail due to rapidly changing requirements. In practice, the solution for this is often found in Excel, which is not usually conducive to quality, efficiency and satisfaction.”

Dynamic planning measures

Figure 2: What measures are needed to align planning and forecasting to a more dynamic business environment? (n=275) © BARC

Dynamics describes the degree of change and increasing competitive pressure in markets. It is caused by innovation as well as changing social and political conditions. The development of highly dynamic markets is not fully predictable. Dynamics in markets have been rising for a long time and companies are feeling increasing pressure as a result.

About the survey

Sound Decisions in Dynamic Times – Forecasts and Simulations Support Modern Corporate Management” is a BARC market research study that addresses the current status of forecasts and simulations, and examines which measures need to be taken in order to use them effectively. It is based on a worldwide survey of 275 companies of varying sizes across all industry sectors. The authors of the study are Dr. Christian Fuchs and Robert Tischler, Senior Data & Analytics Analysts at BARC.

Useful links

Further information about “Sound Decisions in Dynamic Times – Forecasts and Simulations Support Modern Corporate Management”
Infographic

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For further information, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de

Sound Decisions in Dynamic Times cover

Infographic: “Sound Decisions in Dynamic Times – Forecasts and Simulations Support Modern Corporate Management”

Markets and competition are highly dynamic, complex and characterized by uncertainty which is currently at the forefront of everyone‘s minds. Satisfying customer needs and securing solvency both require quick decisions and decisive action.

BARC’s study “Sound Decisions in Dynamic Times” is based on a survey of 275 decision-makers worldwide. It examines how organizations are adapting and improving their corporate planning to meet these challenges.

Here, BARC offers 5 recommendations based on findings from the survey.

Find out more and download the full study.

Infographic: Dynamic Planning

 

Find out more and download the full study.

BARC analyst Timm Grosser

The Data Catalog – The “Yellow Pages” for Business-Relevant Data

BARC analyst Timm GrosserAn overview of data catalogs by BARC Analyst Timm Grosser, including tips on how to select the right data cataloging solution for your organization.

Data is essential for companies to keep up with the digital age. Everyone knows that by now. But it’s not so easy to extract the desired value from data and shine with innovative, data-driven business applications. Instead, we often see data chaos that has been growing for years in the form of fragmented data landscapes and distributed expert knowledge.

A hotly discussed technological approach to make knowledge of distributed data available is the data catalog, the “Yellow Pages” for business-relevant data. It stores information about data in the form of metadata and structures, and makes it searchable.

A data catalog tool achieves its usefulness primarily through three essential points:

  1. covering information needs quickly and easily
  2. capturing and curating metadata (knowledge) as efficiently (automated) as possible
  3. providing a platform for the exchange of knowledge for “all”

In addition, functions for data governance and/or data access are valuable.

Finding the right tool can be more complicated than you might expect. The market for data catalogs is anything but transparent. As with other trending areas, the range of products is exploding and we are now aware of more than 90 solutions with data cataloging functions operating worldwide. But not all data cataloging is the same. These offerings vary in focus, content, features and supported use cases. The following table provides an overview of the basic tool types for data cataloging. Basically, there are options for specific use cases (as part of a BI or analytics user tool, as part of an environment) and offerings that provide a comprehensive, independent solution (specialists, as part of a data governance (DG)/data management (DM) platform).

Pay particular attention to interfaces and transparent, open metadata models for metadata exchange with other catalogs and systems when selecting a data catalog. This offers you a number of advantages:

– You avoid vendor lock-in and can use the tool’s capabilities in a targeted manner

– You can more easily transfer catalogs from different areas or environments to a parent catalog

– It allows easier migration or integration with more powerful tools or tools with a different focus

Catalog scenario Characteristics Tool examples
…homemade Rudimentary catalog functions Excel, Confluence, Wiki, …
…as part of a BI/analytics tool Catalog functions related to the data/artifacts in the environment Alteryx, Qlik, Tableau, …
…as part of an environment Catalog functions related to technical data/artifacts in the environment Amazon, Cloudera, Google, …
…as specialist Comprehensive catalog functions related to data and partly artifacts from different tools/environments, added functionality such as data governance Alation, Waterline, Zeenea, …
…as part of a data governance/DM platform Comprehensive catalog functions related to data and partly artifacts from different tools/environments. Additional functionality from the portfolio (e.g., workflows, data quality, etc.) Collibra, Infogix, Informatica, SAP, …

Table 1: Data Cataloging tool types

When selecting a data catalog, its functions should be carefully checked. A checklist should normally include:

– Adapters and functions for metadata integration and exchange

– Supported content (e.g., supported metadata types, openness and extensibility of the metadata model)

– Functions and machine support for the maintenance (curation) of metadata

– Functions and machine support for catalog use and search/navigation/analysis of metadata

– Ease of use

– Support for collaboration

– Further data management functions (e.g., for data governance, data preparation, data quality and data protection)

We are also happy to support you directly – with our best practice experience, established process models and numerous templates – through the entire selection process from requirements gathering to the creation of a shortlist, proof of concept support and deciding which tool to use. This gives you greater decision security, saves you time and resources and provides you with a partner who can help to create a data cataloging roadmap which is both transparent and acceptable to management and relevant stakeholders.

Leverage Your Data

Companies Need To Take Data Handling To The Next Level

PRESS RELEASE – WÜRZBURG, June 23rd, 2020

BARC (Business Application Research Center) today published the results of its topical survey “Leverage your data – a data strategy checklist for the journey to the data-driven enterprise”. In the study, BARC analysts Jacqueline Bloemen and Timm Grosser take a close look at how companies are currently handling data and the hurdles along the way to becoming a data-driven enterprise. The full study is available for download free of charge thanks to sponsorship by Ab Initio, Alation, Collibra, Cubeware, Denodo, Tableau and Talend.

Key findings

  • #1: The majority of companies believe that data deserves significantly more attention
  • #2: Effective approaches to improving data handling are known, but rarely applied
  • #3: The benefits of more effective use of data are only gradually emerging

Data deserves greater attention

According to a new BARC survey, companies agree that they could benefit from giving data more attention. 90% of participants point out that information has a high priority in decision-making. Almost the same proportion (87%) state that they could improve their corporate results by optimizing data handling. However, the real value of data is often not transparent enough. Decision-makers in particular have little insight into their data-related problems and the benefits of potential investment. “If companies do not have knowledge of the quality and usability of their data, of course they will find it difficult to assess the value and potential of their data,” said Jacqueline Bloemen, Senior Analyst Data & Analytics at BARC and co-author of this study.

The study shows that companies are groping in the dark, especially when it comes to data-related processes. 66% of participants state that they waste a lot of time asking the same questions about data or repeating work. Also, it is often unclear who is using what data and for what purpose (61%). Surprisingly, the measures to effectively deal with these challenges seem to be quite clear to most of the companies surveyed. They are aware that more information about their data is needed (59%) and clear responsibilities have to be defined (57%). Nevertheless, when it comes to actually implementing these approaches, most companies have not put their theory into practice yet (see Figure 1).

Leverage Your Data press release - Figure 1

Figure 1: Top four approaches to improving the handling of data (n=419/418) © BARC

It is clear that companies face major hurdles when it comes to implementing new data handling approaches. 52% of participants point out that there is a lack of documentation and knowledge about data. to start. Another issue is that the operational business is prioritized over driving innovation through data (43%) and holding people accountable for handling data (40%).

Companies are not in a situation to benefit significantly from their use of data (yet)

The study shows that companies are currently struggling to gain and maintain an overview of their data. Approaches to improve the situation are known but are proving difficult to carry out in practice. Against this background, it is not surprising that the benefits achieved so far are rather limited (see Figure 2)

Leverage Your Data press release - Figure 2

Figure 2: Top four benefits achieved through approaches to improve the handling of data (n=418) © BARC

None of the benefits listed have been achieved by the majority of survey participants (the highest rating is 37%). A look at best-in-class companies in comparison to laggard companies reveals what could be done better: While both groups are investing in enabling more self-service analysis and providing more information about data, best-in-class companies are doing this more intensively (42 and 38 percent respectively, versus 25 and 24 percent for laggards). For best-in-class companies, further  areas of focused investment include defining clear responsibilities/points of contact for data utilization and providing a business glossary. These measures also foster multidisciplinary collaboration in the utilization of data. While both groups achieve the same ratings for “development of the corporate data culture from “need to know” to “right to know”“ (23 percent), from a relative perspective this point is more important for laggards (third highest rating). In contrast, best-in-class companies invest more in targeting definition and priority steering by senior management (21 percent) than laggards (10 percent). Best-in-class companies are also more likely to invest in data literacy by carrying out targeted staff development and training to promote data and analytics skills (31 percent versus 10 percent for laggards).

“On the bottom line, the message is clear,” said Timm Grosser, Senior Analyst Data & Analytics at BARC and co-author of this study. “Treating data as an asset and collaborating on a multidisciplinary basis requires targeted steering and corresponding processes. This cannot be achieved with a bottom-up approach only. Enabling a data-driven enterprise affects every employee and requires a fundamental cultural change. Executives must want, initiate and actively promote this change.”

About the study

“Leverage Your Data – a data strategy checklist for the journey to the data-driven enterprise ” is a topical BARC survey dealing with companies’ approaches and challenges when seeking to improve their use of data. The study is based on a worldwide survey of more than 400 companies from various industries and of different sizes. The focus of the study is to evaluate what companies are currently doing to reap the potential of their data and to give recommendations for more effective ways of handling data. The authors of the study are Jacqueline Bloemen and Timm Grosser, Senior Analysts for Data & Analytics at BARC.

Useful links

Further information about “Leverage your data – a data strategy checklist for the journey to the data-driven enterprise”
Infographic based on findings from the study
– Download the full study via the sponsors’ websites: AlationDenodoTableau

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For further information, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de

Leverage Your Data

Infographic: “Leverage Your Data – a data strategy checklist for the journey to the data-driven enterprise”

Digitalization is on the agenda of almost every company, and data is the foundation of digitalization.

BARC’s “Leverage Your Data” study is based on a survey of 419 decision-makers worldwide. It examines how companies are maintaining and developing their data assets, the challenges they encounter and the efficacy of the measures taken to address them.

In particular, the experiences of best-in-class companies can be used to inform the development of an individual data strategy for your business.

Here, we offer 5 recommendations for companies looking to embark on the road to becoming a data-driven enterprise.

Click here to find out more and to download the full study.

Infographic - Leverage Your Data

 

Click here to find out more and to download the full study.