Data and analytics should remain an enterprise priority despite the disruptions of the COVID-19 pandemic, according to a recent report from 451 Research.
In their Market Insight report, “Amid Coronavirus Uncertainty, Analytics Should Remain an Enterprise Priority”, 451 Research referenced recent surveys, including their Budgets and Outlook 2020 survey, to make some inferences we thought we’d share with our readers. They revealed that 53% of respondents referred to data and analytics tools and platforms as the “technology with the greatest game-changing potential over the next three years.” (For those that are curious, machine learning/AI came second, followed by containers/container management, software-defined infrastructure, and serverless computing.)
Furthermore, the report explains why there is such high regard for data and analytics:
“While 83% of all respondents agree that their organization’s data platform/analytics initiative(s) to date have been successful, that figure rises to 95% of the most data-driven companies (those making nearly all strategic decisions based on data), compared with 59% of the least data driven.”
451 Research’s report further validates what Pepperdata has long known: the use of data and analytics is a key differentiator between leaders and laggards across multiple industries.
Enterprises directly affected by the pandemic, such as travel and tourism, events and hospitality, and offline retail (excluding grocery), will need data monitoring and analytics intelligence to help them develop contingencies for both business survival and evolution to address emerging opportunities.
For businesses in sectors like financial services, grocery, online retail, utilities, telecommunications, and manufacturing, an increased use of analytics software and services will greatly enhance their understanding of evolving customer behavior, supply chain changes, and workforce planning and management.
Finally, the “frontliners”—government, education, healthcare, pharmaceuticals, and research—are expected to accelerate their investments in both existing and new data and analytics projects. These projects will assist them in understanding and modeling infection patterns, developing vaccines and treatments, recognizing the repercussions, and ultimately learn from them.
Data and analytics play a huge role in these current circumstances, and with that comes the need to ensure optimum, cost-efficient performance on those critical big data analytics stacks.