PLEASANTON, Calif.— September 2, 2008 —Businesses today depend on effective decision-making but the majority are not investing wisely in the people, processes and technology required to provide the information they need, according to newly released benchmark research from Ventana Research. The research, “Decision-Making and Performance: Improving Essential Business Analytics and Technologies,” reveals a striking gap: The vast majority of organizations want to focus on their need to optimize their performance and align it with their goals, only one-third of them are confident in the quality of their analysis and planning.
This new research benchmarked the maturity of decision-making and performance management and found that only 31 percent of organizations are truly mature and innovative in their use of their people, processes, information and technology. “Today’s organizations are hindered by a lack both of quality information and of effective tools to improve their confidence in their decision-making,” said Mark Smith, Ventana Research’s CEO & executive vice president of research. “The research found that despite significant investments by IT in business intelligence, the majority of organizations still use spreadsheets and email to optimize performance and struggle to communicate and collaborate to plan and improve.”
This benchmark research, part of Ventana Research’s ongoing cutting-edge research efforts in business research, also uncovered a contradiction between the critical role business analysts play as a resource for management and executives and the fact that they are not equipped today with the right tools to get their job done. In addition, the research also yielded a number of new insights derived from the quantified data. Among them:
• Use of analytics for decision making is maturing.
• Business analysts are critical resources for corporate management.
• Organizational issues and manual tasks impede the effectiveness of analysts.
• Business analysts need more flexible ways to deal with data.
• Spreadsheet use is widespread and poses risk to business.
• Business analysts don’t receive enough support.
• Business metrics are in demand.
• IT should support business analysts more fully.
• A strong business case is needed for technology improvement.
• Organizations will consider new approaches to deploying software.
Ventana Research will expand on the benchmark research in two live interactive webinars. The first webcast will discuss the research findings and recommendations for improvement:
“Benchmark Your Decision-Making and Performance Management Processes,”
The second webcast will unveil the best and worst practices for decision making and performance management and how technology provider Symphony Metreo is addressing these needs today:
“Best Practices and Innovative Technology for Business Analytics and Decision Making,”
The webinars will discuss key findings and insights that are critical to maturing organizations’ decision-making processes:
• Pain points and the needs of the business analyst.
• Issues in organizations’ approaches to analytics and planning.
• The role of technologies and applications, what’s being chosen and why.
• Issues that are impeding improvement in the quality and effectiveness of decisions.
• Worst practices to avoid.
Register and View the Webinar Replays
The research, sponsored by technology provider Symphony Metreo ( www.symphony-metreo.com ), is based on an analysis of 166 qualified organizations from all major industries. The survey was conducted with the assistance of media partners Business Finance, Intelligent Enterprise and Manufacturing Business Technology. Those interested in learning more about the benchmark research can find additional information at http://www.ventanaresearch.com/dmp/ .
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 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. Ventana Research provides the most comprehensive analyst coverage in the industry; more than 2.5 million business and IT professionals through our community of 85,000 professionals and network of media and association partners around the world benefit from Ventana Research’s insights. Ventana Research focuses 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. To learn how Ventana Research advances the maturity of organizations use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.
Media:
Copies of benchmark research report and interviews with EVP Research Mark Smith are available upon request.
Media Contact: Marisela Reynoso
(925) 242-2579 marketing@ventanaresearch.com
© 2008 Ventana Research, Inc.