Data Integration, Unsuitability, Key Issues With Analytics Solutions

by CXOtoday News Desk    Mar 24, 2016

analytics

Companies are using analytics and get significant value from it. However, according to a recent survey, 95% of respondents said either integrating data or lack of suitability is biggest issue with analytics solutions.

The survey conducted by Eka Software Solutions, a provider of smart commodity management software solutions, found out that half of commodities companies cite trying to integrate data from multiple sources as the greatest challenge with analytics, and half say the available solutions are not suitable to the business due to either functional or cost reasons.

Eka surveyed 42 executives at commodities companies in the agriculture, chemicals, oil, natural gas, and power industries. Results to the research question “What is your biggest issue with analytics solutions?” are as follows:

48% said “integrating data from multiple sources”47% said either “expected cost and effort to implement a solution” or “available solutions don’t seem to solve my challenges”

“It is telling that half of commodities companies name data integration as the biggest issue with analytics solutions and the other half say the available solutions are either unduly costly or not fit for purpose,” said Michael Schwartz, EVP & CMO at Eka.

Some see a greater problem with cloud analytics. A September 2014 Ventana Research found that organizations cite a unique and more complex reason to avoid cloud analytics and BI. Legacy integration work can be a major part of the problem, particularly when BI tools are already integrated with other applications, including forecasting and planning software, Ventana VP and Research Director Tony Cosentino mentioned in his blog.

“Such issues are especially prevalent for companies that have legacy BI tools using data models that have been distributed across their divisions,” Cosentino noted.

According to analytics experts, organizations can no longer ignore these complexities since doing so exacerbates the challenge of fragmented systems and distributed data. Buyers and architects should understand the benefits of analytics in the cloud and weigh these benefits against the challenges described above.