Latest research from BARC’s analyst team

bi trend monitor 2020 cover

Infographic: BI Trend Monitor 2020

BARC’s BI Trend Monitor 2020 study gives BI practitioners a platform to have their say on the trends currently shaping the BI and data management market, supplemented by additional commentary and analysis from BARC analysts.

This infographic summarizes the importance that BI users and consultants attach to a series of 20 trends. It also reveals how these trends have evolved in popularity over the last five years.

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

 

BI Trend Monitor 2020 infographic

 

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

modernizing the data warehouse

Infographic: Modernizing the Data Warehouse – Challenges and Benefits

Modernizing the Data Warehouse: Challenges and Benefits, a study based on a worldwide survey examining companies’ approaches to get their data warehouse to the next level. In particular, it provides insights regarding technologies used, benefits achieved and lessons learned by companies that are in the process of modernizing their data warehouse.

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

 

data warehouse modernization infographic

 

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

modernizing the data warehouse

The Challenges and Benefits of Data Warehouse Modernization

PRESS RELEASE – WÜRZBURG, November 27th, 2019
The Business Application Research Center (BARC) publishes Modernizing the Data Warehouse: Challenges and Benefits, a study based on a worldwide survey examining companies’ approaches to get their data warehouse to the next level. In particular, it provides insights regarding technologies used, benefits achieved and lessons learned by companies that are in the process of modernizing their data warehouse.

Retrofitting the data warehouse: time-consuming development processes call for action

It is the central approach of IT to make cumbersome processes more efficient through automation. Therefore, it seems obvious that users should seek to streamline their time-consuming development processes for the data warehouse by means of data warehouse/ETL automation. In fact, these approaches provide benefits. Above all, these include broad data warehouse usage and the ability to handle a larger variety of data to support enhanced analytical requirements. Greater efficiency in data management processes, on the other hand, only ranks 8th among the benefits achieved.

Lack of agility and skills as well as data landscape complexity limit the ability to act

Inflexibility in on-premises environments is driving companies to the cloud. Yet on average only 29 percent of our participants are adopting cloud services for their data warehouse. Investments in infrastructure and technology, however, are of limited usefulness. Data landscapes tend to be too complex and not many organizations have established data governance frameworks with both business and IT participation. So not surprisingly, a lack of business and technical skills is seen as a central challenge (38 percent) in data warehouse modernization.

data warehouse modernization challenges

Figure 1: What are the biggest challenges your company faced in modernizing its data warehouse environment? Top five answers (n=380)

 

Leaders profit from their investments in a flexible data and process architecture and agile data services

Companies with greater data landscape maturity are more likely than others to use cloud services. They build leaner data architectures based on central data warehouses backed by analytical databases and implement fewer data marts. Microservices and API management play a greater role in their landscape. Their future prospects are more often focused on real-time analytics and streaming as well as new data sources and open data. They are therefore more likely to better support BI and advanced analytics requirements.

About ‘Modernizing the Data Warehouse: Challenges and Benefits’

‘Modernizing the Data Warehouse: Challenges and Benefits’ by Jacqueline Bloemen, Senior Analyst Data & Analytics at BARC, is a study based on a worldwide survey of 368 people with a professional interest in data management, conducted from January to May 2019. The study covers approaches to modernizing the data warehouse, technology use and current challenges. The full report is available free of charge thanks to sponsorship from Wherescape.

More information about ‘Modernizing the Data Warehouse: Challenges and Benefits’

Download the full study from the sponsor’s website:

About BARC

BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria, Switzerland and the United Kingdom, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars. For more information, visit:
www.barc-research.com

Contact

For all enquiries, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-0
rschmidt@barc.de

BI trends 2020 ranked

BI Users Name Data Quality the Biggest Success Factor in Their Work

PRESS RELEASE – WÜRZBURG, November 13th, 2019
Which BI trends will shape the coming year? The enterprise software analyst BARC published the BI Trend Monitor 2020 at this year’s Big Data World in Frankfurt. With 2,865 BI users surveyed, the study offers a comprehensive overview of current trend topics in the global business intelligence market. For the third time in a row, BI users name master data and data quality management as the top trend.

Going into a new decade, the two most important trends – master data and data quality management in first place and data discovery in second place – remain unchanged compared to last year.

“BI users see the value of data. This means they are focusing on data quality, data governance and data strategy,” said Dr. Carsten Bange, founder and CEO of enterprise software analyst BARC. “Basically, they have realized that even the best ways to prepare data in dashboards or provide analysis functionality are worthless if they don’t have the right data or if the quality is not up to scratch.”

Third spot is now occupied by establishing a data-driven culture. This trend, which was newly introduced last year and went straight into fifth place in the rankings, is considered even more important this year. Self-service BI, on the other hand, dropped down to fifth place this year while data governance remains in fourth. All in all, these five top trends are the foundation for companies to manage and use their own data.

BI trends 2020

Figure 1: Importance of BI trends from “not important at all“ (0) to “very important“ (10), n=2865


Artificial intelligence not yet on the agenda of BI decision-makers

Some trends have slightly gained in importance since last year – including real-time analytics and integrated platforms for BI and PM.  However, no single trend has made any major gains.

Mobile BI dropped from twelfth to fifteenth place this year, continuing its downward trend. The use of BI functions on mobile devices may no longer be very interesting for BI users because it is either available already or because the requirements of companies are changing.

BI trends 2020 ranked

Figure 2: Development of rankings of BI trends since 2016, n=2794/2772/2770/2679/2865

Advanced Analytics, Machine Learning and AI are on everyone’s lips at the moment. Nevertheless, BI users rate this trend lower than they did last year (from nine to ten). More important than the difference in rank, however, is the reason behind this slight downward trend: In 2018, many hopes were based on new tools with artificial intelligence, so an increase for this topic might have been expected.

“Advanced analytics is probably not so highly valued as BI practitioners currently see other even more important trends in their work. Perhaps users are also skeptical about how the current, somewhat overblown topic of artificial intelligence can actually generate benefits in companies. Decision-makers are in the process of separating the hype from reality and identifying the most useful areas of application,” suggested Dr. Carsten Bange.

About the BI Trend Monitor 2020

With 2,865 participants, the BARC BI Trend Monitor 2020 is the largest worldwide trend survey on business intelligence and data management. It offers a detailed evaluation and weighting of twenty individual trends by region, industry and the self-assessment of companies (“best-in-class” vs. “laggards”). The full report is available free of charge thanks to sponsorship from Cubeware, Information Builders, MicroStrategy, TARGIT and Unit4 Prevero.

For more information on the BARC BI Trend Monitor 2020 and to download the full report, visit:
https://bi-survey.com/top-business-intelligence-trends

About BARC

BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria, Switzerland and the United Kingdom, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars. For more information, visit:
www.barc-research.com

Contact

For all enquiries, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-0
rschmidt@barc.de

data warehouse modernization technologies

Data Integration is Crucial for Modernizing the Data Warehouse

PRESS RELEASE – WÜRZBURG, November 6th, 2019
The Business Application Research Center (BARC) publishes “The Data Management Survey 19”, a new study based on a recent worldwide survey of 782 data management software users. The survey results provide insights into current approaches to data warehouse modernization as well as a comparison of 11 leading data management products.

It is generally acknowledged that 70-80 percent of the effort involved in data warehousing is spent on data integration processes. It is therefore natural that users should try to modernize their data warehouse environments by means of ETL automation and data warehouse automation. According to The Data Management Survey 19, data integration technologies are still the main technology used for this purpose (by 42 percent of respondents), closely followed by data warehouse automation solutions (37 percent) and data modeling tools (31 percent).

data warehouse modernization technologies

Figure 1: What kind of technology have you implemented to modernize data warehousing? (n=388)

Specialist data warehouse automation software rated better than data integration tools

The Data Management Survey 19 reveals that data warehouse automation is one of the top three application scenarios for data integration tools, alongside classic tasks such as loading data marts and enterprise data warehouse systems. A comparison between data warehousing automation specialists and data integration tools found that user ratings of specialist software were better overall for data warehouse automation, especially in terms of developer efficiency and time-to-market. However, data integration tools did not come off too badly in the comparison.

Leaders set a trend for using analytical databases

There is a variety of approaches to modernizing the data warehouse and addressing new analytical requirements. BARC‘s study shows that companies with a flexible data and process architecture or agile interoperable data services (termed as “leaders“ for the purposes of this research) favor a central approach – such as building an enterprise data warehouse – rather than using additional data marts. According to the survey findings, one in three leaders has already migrated to a central approach.

The implementation of an enterprise data warehouse requires powerful databases that are able to scale with large data volumes and a multitude of different workloads while remaining both manageable and highly performant. As a result, leaders use analytical databases much more frequently (41 percent) than average (27 percent). Other companies are more likely to rely on data marts for modernization.

About The Data Management Survey

The Data Management Survey 19 is the first edition of BARC’s annual study of the data management software market. The study is based on a worldwide survey of 782 data management experts, which addressed questions about their software selection, implementation and usage. Detailed feedback on 11 data management products is analyzed and compared. A total of 690 participants answered a series of detailed questions about their use of a named product while over half answered a further set of more general, product-agnostic questions. To perform your own interactive product comparisons based on the survey data, visit:
https://bi-survey.com/data-management-software-comparison

About BARC

BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria, Switzerland and the United Kingdom, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars. For more information, visit:
www.barc-research.com

Contact

For all enquiries, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-0
rschmidt@barc.de

BI Survey 19 press release

Business Intelligence Buyers Should Change Their Priorities

PRESS RELEASE – WÜRZBURG, October 30th, 2019
The Business Application Research Center (BARC) publishes The BI Survey 19, the latest edition of its influential, empirical study into the global market for analytics and business intelligence (BI) software. For more information, visit www.bi-survey.com

Data from The BI Survey 19 reveals that the most popular reasons for choosing to buy a BI product are not always those that result in the most successful implementations. For example, buyers who made sure they evaluated BI tools with a large data handling capacity yielded the highest business benefits with their BI solutions but, in practice, only 20 percent of buyers reported having that priority. Conversely, some criteria have less influence on future success but are often treated as important, such as price-performance ratio, which was cited as a major selection criterion by 42 percent of buyers.

How buyers should choose (rank) Difference
in rank
How buyers choose (rank)
 Large data handling capacity 1 +6 7
 ‘Proof of concept’ faster or better 2 +11 13
 High innovative capacity of the vendor 3 +9 12
 Fast query performance 4 +2 6
 Good coverage of BI specific requirements 5 -1 4
 Ease of use for report designers 6 -1 5
 Flexibility of the software 7 -5 2
 Ease of use for report recipients 8 -5 3
 Deployment option 9 +10 19
 Ability to support large numbers of users 10 +1 11
 Price-performance ratio 11 -10 1
 International focus of the software 12 +8 20
 Good vendor relationship 13 -4 9
 Availability of local support 14 0 14
 Predefined data connection 15 -7 8

Figure 1: Reasons to buy a BI product vs. level of business benefits achieved, top 15 (n=2,212)

“Comparing the motives behind choosing analytics and BI tools with the benefits gained in real-world deployments produces some fascinating insights and enables us to see which selection criteria should be highly valued and which will have less impact on the success of implementations,” said Robert Tischler, Senior Analyst at BARC and co-author of The BI Survey 19.

Top benefits gained from BI relate to improved decision support

The three business benefits most likely to be achieved through analytics and BI – faster and more accurate reporting, analysis or planning and better decision-making – all relate to the improvement of decision support. However, many companies are also striving to monetize their data.

“Data monetization means generating measurable economic benefits from available data sources through analytics,” explained Tischler. “Data monetization can yield direct or indirect results and it can be internal or external. Using analytics and BI to make money out of data is becoming increasingly important nowadays, but still these benefits are typically achieved less frequently than others due to the challenges faced.”

BI Survey 19 press release - figure 2

BI Survey 19 press release - figure 2 legend

Figure 2: Level of business benefits achieved from using a BI product (n=2,477)

Democratized access to data: a work in progress

While finance and controlling departments are using BI in 80 percent of the companies surveyed, other departments that heavily rely on data such as sales (60 percent) and operations (53 percent) appear to be starved of the opportunity to gain relevant insights from their BI solution.

“Successful decision support in modern organizations requires democratized access to data,” said Tischler. “Decision makers in all departments need up-to-date and relevant information to base their decisions and actions on a reliable foundation. Results from analytics and BI must reach and be actively used by data-literate employees throughout the organization.”

BI Survey 19 press release - figure 3

Figure 3: Which departments in your organization use BI application(s)? (n=2,550)

Self-service analytics tools rule the business intelligence market

More companies are now evaluating self-service analytics tools than any other flavor of BI solution. The list of most commonly evaluated BI software products is dominated by self-service-oriented tools, with the top four all belonging to this category.

This dominance is underpinned by figures for implementations taking place in the last two years. At the top of the pile, Microsoft Power BI, which has been evaluated 9 percent more often in the last two years compared to all-time, and Tableau (+6 percent) have improved on their already strong positions. The same is true for Qlik Sense (+4 percent).

About the study

The BI Survey 19 is the eighteenth edition of BARC’s major annual study into the selection and use of analytics and business intelligence tools. The findings are based on a worldwide survey of 3,021 software users, consultants and vendors, which was conducted from February to mid-June 2019. It features current data on market trends as well as detailed analysis and comparison of 36 leading software products from 31 different vendors based on user feedback.

For more information, visit:
https://bi-survey.com/bi-survey-about

For aggregated product-related results and an online product comparison tool, visit:
https://bi-survey.com/business-intelligence-software-comparison 

About BARC – Business Application Research Center

BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria, Switzerland and the United Kingdom, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars. For more information, visit www.barc-research.com

For further information, please contact:

Nikolai Janoschek
Head of Market Research
Tel: +49 (0) 931 880651-0
E-Mail: njanoschek@barc.de

The Future of Reporting

Flexibility and Personalization Will Determine the Future of Reporting

PRESS RELEASE – WÜRZBURG, June 26th, 2019
BARC (Business Application Research Center) publishes its new study “The Future of Reporting”. The global user survey-based study looks at current technologies and trends in the reporting landscape of companies as well as future developments. In addition to the global study, a second version focuses on developments in the DACH region. Both are available free of charge thanks to sponsorship by BOARD, Cubeware, IBM, SAP, Tableau and Zoho.

Companies today have to react faster than ever to changes in the market in order to keep up with the competition. Correct decisions can only be made with the help of a solid data basis, and reporting plays a key role in the provision of data. Today, however, only a minority of companies regularly make decisions based on data.

“It is time to modernize today’s reporting landscape and make decisions based on relevant information rather than gut feeling,” said Robert Tischler, Managing Director of BARC Austria and co-author of the study.

Decentralization is the key to new insights

dissatisfaction with reporting

Figure 1: Top 4 most dissatisfying issues in reporting today (n=601)

Central data management and reporting are typically used to gain more control over corporate information. However, this control has a negative impact on the agility of departments. Almost a third of respondents (31%) are not satisfied with the way information is provided.

29% of users lack personalized content and active notification of relevant content. Users who work with predefined content need more flexibility in analysis and personalized content that is distributed through multiple channels.

More than a quarter (29%) of respondents say they are unable to respond to new developments and issues. But flexibility in reporting and BI is more critical than ever: it is the only way for companies to respond quickly to new customer demands, market developments and competitive pressures.

In addition to mastering the challenges of data management, BI managers must provide all business users with easy and fast access to data. Decentralized architectures and modern tools pave the way for rapid reaction to market changes. This enables users to quickly find, prepare and analyze relevant data.

Which measures are companies taking?

enterprise reporting distribution channels

Figure 2: What are the most important distribution channels and reporting types in your company today and in the future (n=603/602)

The improvement measures organizations have taken vary greatly between leaders and laggards. When comparing leaders with laggards, the most successful measures are clearly recognizable. Leaders invest heavily in data management and front-end issues. Almost half of all leaders (46%) have provided more users with self-service functions. This addresses one of the problems with which users are particularly dissatisfied – a lack of flexibility. On the other hand, only a quarter of all laggards (25%) have adopted this measure.

About “The Future of Reporting”

“The Future of Reporting” is a BARC user survey that addresses future developments in the field of reporting and business intelligence. It is based on a worldwide survey of more than 600 BI executives, developers and business users. It provides a user-based overview of the current status of reporting. In addition, the authors of the study, senior analysts Larissa Baier and Robert Tischler, provide well-founded insights into future developments, trends and challenges in corporate reporting.

Related links

About BARC

BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria and Switzerland, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars.

For further information or media enquiries, please contact:

Regina Schmidt
Communications Manager
Phone: +49 (0) 931 880651-0
Email: rschmidt@barc.de

The Future of Reporting

Infographic: The Future of Reporting

Modernizing and optimizing enterprise reporting applications to support shifting and increasing demands is vital to continuously deliver trusted information for decision support in rapidly changing environments.

This study investigates current and future challenges with information delivery and how organizations plan to improve their enterprise reporting to gain benefits from their data treasures.

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

Future of Reporting Infographic

 

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

Flexibility the Main Driver of Cloud Planning and CPM

PRESS RELEASE – WÜRZBURG, May 21st, 2019
The Business Application Research Center (BARC) publishes The Planning Survey 19, the results of its fifth annual worldwide survey of nearly 1,400 planning users, consultants and vendors.

Among the many interesting results uncovered by The Planning Survey 19, it is revealed that the main reason companies use cloud-based planning products is the desire for greater flexibility and elasticity (56%, see Figure 1).

“The level of use of planning and CPM systems is subject to strong seasonal variation. During budgeting and forecasting periods there is a high usage pattern, while the tools are used significantly less frequently at other times of the year,” explained Christian Fuchs, senior analyst at BARC and author of The Planning Survey 19.

Other compelling reasons for choosing a cloud-based planning product over an on-premises solution include ‘reduction of maintenance efforts for hardware and software’ (45%), ‘costs’ (32%) and ‘speed of implementation’ (26%).

Chart: What are the main reasons for using or wanting to use a cloud-based planning solution?

Figure 1: What are the main reasons for using or wanting to use a cloud-based planning solution? (n=425)

Predictive planning an important trend

For nearly two-thirds of the companies surveyed (64%), predictive planning and forecasting have high to very high relevance.

“Artificial intelligence (AI) and predictive technologies are major trends in almost all areas of the IT market right now,” said Fuchs. “So companies are naturally keen to exploit the potential of predictive functions in the area of planning and budgeting.”

Chart: How important or relevant are predictive planning and forecasting for your company?

Figure 2: How important or relevant are predictive planning and forecasting for your company? (n=1,133)

Benefits of specialist planning tools

‘Increased planning frequency’, ‘improved integration of different sub-budgets’, ‘improved integration of planning with reporting/analysis’, ‘better quality of planning results’ and ‘more precise/detailed planning’ are the benefits companies achieve most frequently through the use of their planning products (see Figure 3).

In contrast to the main benefits, ‘saved headcount’, ‘increased competitive advantage’ and ‘reduced costs’ are seen as relatively minor benefits for planners. “This is understandable. Even with the best planning products, planning requires a lot of effort for any company and the software can only support the process, not entirely automate it,” said Fuchs. “However, planning tools save a lot of time compared to other approaches, and the hours previously invested in manual efforts can be used for more value-adding activities. Planning products can bring about competitive advantage by offering deeper insights into data and being more agile, enabling companies to react to current and future developments in their businesses. It will be interesting to see how current trends such as artificial intelligence and predictive planning can help to automate budgeting and forecasting processes and free planners from repetitive routine tasks in the future.”

Chart: To what level have you achieved the following benefits with your product?

Figure 3: To what level have you achieved the following benefits with your product? (n=881)

About the study

The Planning Survey 19 is the fifth edition of BARC’s major annual study into the selection and use of planning tools. The findings are based on a worldwide survey of 1,367 planning users, consultants and vendors, which was conducted from November 2018 to February 2019. It features analysis and comparison of 22 leading planning products based on user feedback, as well as current data on market trends and the selection and use of planning tools. The survey raised €1,500 in aid of UNICEF as part of BARC’s pledge to give €1 per survey completion to charity.

For more information, visit:
https://bi-survey.com/planning-survey-about

For aggregated product-related results and an online product comparison tool, visit:
https://bi-survey.com/planning-software-comparison 

About BARC
BARC (Business Application Research Center) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). With experts in Germany, Austria, Switzerland and the United Kingdom, BARC supports clients in their software selection and strategy through specialist consulting, leading-edge research and a program of conferences and highly-focused seminars.

For further information or media enquiries, please contact:

Nikolai Janoschek
Head of Market Research
Phone: +49 (0) 931 880651-0
Email: njanoschek@barc.de

Data Monetization

BARC Survey Finds Data Monetization Is In The Early Stages of Adoption But Is Expanding

PRESS RELEASE – WÜRZBURG, April 23rd, 2019
The Business Application Research Center (BARC) publishes “Data Monetization – Use Cases, Implementation and Added Value”, the results of a survey sponsored by Tableau examining current approaches to data monetization in European companies.

17 percent of companies have established data monetization initiatives, a further 12 percent are currently building prototypes and another 10 percent are still developing concepts, according to new research from BARC. Large companies from retail, services, finance and banking are leading the way and, in general, data monetization is principally being implemented by larger companies. 25 percent of large companies and 23 percent of larger medium-sized companies responding to the survey have already launched data monetization products. In contrast, only 9 percent of small and 13 percent of small to medium-sized companies have already done so.

Data Monetization press release - Chart 1

Figure 1: Is data being monetized in your company? (n=200)

 

“Companies still have the opportunity to secure a competitive edge by engaging in data monetization”, said Sebastian Derwisch, BARC analyst and author of the report. “Our results show there is value in data monetization, but management needs to give priority to these initiatives. Therefore, data monetization projects must be tied to business goals and strategy.”

Providing results for process improvement is the main way to monetize data

Providing analysis results is the most common form of monetizing data. 40 percent of survey participants employ this type of data monetization, whereby data analytics is involved. The provision of data via reporting and benchmarking is almost as important (37 percent). Less common methods include establishing digital platforms (22 percent), extending existing products (17 percent), providing new services (16 percent) and building new business models based on data (6 percent).

Data monetization occurs mainly via the distribution of analysis results and through reporting and benchmarking. Fewer companies establish digital platforms, enhance existing products with new services or create new business models.

“The main focus is on the internal distribution of results as external data monetization is more complex, requiring companies to rethink business models”, commented Derwisch. “Furthermore, the higher standards of data quality and security required for external data monetization may be seen as a barrier.”

Data Monetization press release - Chart 2

Figure 2: How does your company monetize or plan to monetize data? (n=137)

 

Benefits of data monetization are tangible 

Data products can bring a broad range of benefits, from new revenue sources to a better understanding of customers and product improvements. New revenue sources are the most prevalent benefit of data products, reported by 69 percent of respondents. For 66 percent, the provision of new services is a benefit, and improved customer loyalty is cited by 63 percent of participants. Internal provision of the results of data analysis is a motivation for data monetization for more than half of respondents (59 percent), as is the internal provision of data and benchmarks (53 percent). Better insight into customers and improved customer experience – for example by personalization – is achieved by about 50 percent of participating companies. Generating new data is only viewed as a benefit by 38 percent, and binding partners and suppliers by 31 percent.

Data Monetization press release - Chart 3

Figure 3: Which benefits have you achieved by monetizing data? (n=32) 

 

About ‘Data Monetization – Use Cases, Implementation and Added Value’

‘Data Monetization – Use Cases, Implementation and Added Value’ is a survey-based study offering insights into how European companies are approaching data monetization. The online survey was carried out in October and November 2018, attracting 200 participants from a wide range of company sizes and industries. The full study is available free of charge thanks to sponsorship from Tableau. On completion of a short registration form, it can be downloaded from the Tableau website. BARC and Tableau will be presenting the survey results in a series of webinars in English, German and French on June 4th. For further information, visit: www.tableau.com

About BARC – Business Application Research Center – a teknowlogy Group company

The Business Application Research Center (BARC) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). Along with Ardour, Le CXP and PAC, BARC forms part of teknowlogy Group – the leading independent European research and consulting firm in the fields of digital transformation, software and IT services with a network of 155 experts in eight countries.

For further information or media enquiries, please contact:

Nikolai Janoschek
Head of Market Research
Phone: +49 (0) 931 880651-0
Email: njanoschek@barc.de