PLEASANTON, Calif.- January 5th, 2011 - Most product and supply chain organizations see room for improvement across the range of the analytics they use, according to new benchmark research released today by Ventana Research. While an array of product and supply chain analytics are used by organizations, the emphasis is on internal efficiency rather than operational effectiveness. As a result, the research finds that businesses remain largely immature in their use of analytics in these areas, with only one in eight reaching the highest level of maturity.
This in-depth benchmark research on Product and Supply Chain Analytics, the latest from the leading business technology research firm, analyzed hundreds of organizations around the world to assess the maturity and direction of their efforts. Ventana Research undertook this benchmark research to acquire real-world information about maturity, trends and best practices in how organizations use analytics and key indicators to optimize their product- and service-related processes. It explores how they do this now, how their employees view the current processes and tools, plans they have to change or improve them, and benefits they hope to gain by doing so.
The findings offer fresh research-based information on companies' attitudes toward product and supply chain analytics. They confirm that metrics and key indicators are important, and are used most often to evaluate cost- and budget-related factors. And they show that analytics processes are not very effective in most organizations: Nearly two-thirds said it is very important to make it simpler to provide analytics and metrics, and half said they can significantly improve their use of them. In addition, half are not satisfied with the process currently used to create analytics, and only one-third are satisfied with the technology used for that purpose.
For these analytics to deliver value, they must be available to those who need them, but this, too, is an issue for many organizations. Fewer than one-third have analytics generally available, only about one-fourth of managers always have them, and fewer still of those lower in the organization have them whenever they're needed. Moreover, this situation is further complicated by what appear to be conflicting perceptions of analytics availability at different organizational levels.
"This research shows that product and supply chain organizations both need to improve their use of analytics and know that they need to," observed Robert Kugel, SVP and Research Director at Ventana Research. "Yet a majority are not ready to invest in improvement. The research found that the primary barriers to such an initiative are both fiscal and perceptual. We advise companies to resist such inertia actively. The entire process, from developing products to delivering them to customers, must be as effective and timely as possible for companies to prosper in today's fiercely contested markets."
Ventana Research will detail the findings of this benchmark research in a live interactive webinar on January 18th, 2011 at 10:00am Pacific time that will discuss the research findings and offer recommendations for improvement. Key research findings to be discussed will include:
• top ten recommendations for organizations to act on immediately.
• the current state of organizations' thinking on how to apply analytics for efficient management of the product life cycle and the supply chain.
• top patterns in the adoption of new methods of analytics.
• the types of product & supply chain metrics and indicators are most important.
• the current state, future direction of and potential investments in analytics.
• the competencies required for product and supply chain analytics.
The research was sponsored by QlikView. Those interested in learning more about the benchmark research can find additional information at http://www.ventanaresearch.com/sca/. As a part of your registration you will receive insights and education from Ventana Research on using technology effectively in business.
About Ventana Research
Ventana Research is the leading benchmark research and advisory services firm. We provide expert guidance to help organizations manage and optimize performance - to become not only more efficient but more effective. Our unparalleled insights and best practices guidance are based on our rigorous research-based benchmarking indexes of people, processes, information and technology across business and IT functions worldwide. The combination we offer of benchmark research, rigorous market coverage and in-depth knowledge of hundreds of technology providers means we can deliver business and technology education and expertise to our clients where and when needed. The Ventana Research Indexes - the Value Index and the Benchmark Index family - have redefined the research industry by providing accessible, easy-to-use research-based business and technology guidance to businesses.
Ventana Research provides the most comprehensive analyst and research coverage in the industry; the many business and IT professionals worldwide who are members of our community benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn, and Business Week's Business Exchange. Ventana Research was ranked the #1 analyst firm you can trust in enterprise software for 2009 for its relevance to the industry. We focus on business and technology trends and best practices that maximize organizations' potential to perform while reducing the time, cost and risk and still achieve optimal outcomes.
Media: Copies of benchmark research report and interviews are available upon request.
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