(US and Canada) GoodData, the leader in data and analytics infrastructure, has released a report on The Future of Analytics. Building on the momentum of two strong quarters with record growth and a new no-code UI framework defining the future for composable data and analytics, the report provides survey findings of business leaders’ top analytics priorities in 2022 and beyond, as well as predictions of how the global tech industry will achieve its analytics goals moving forward. Key insights include cross-functional approaches to analytics and how composability enables business and IT alignment.
“Businesses are more eager than ever to get the most out of their data,” said GoodData CEO and Founder Roman Stanek. “Data silos have long held enterprises back from useful insights and company-wide collaboration, but the industry is quickly shifting to composable data and analytics for more flexibility and resilience. The composable enterprise of the future breaks down data silos to bring IT and business closer together.”
The report’s findings were produced by a survey conducted in collaboration with Pulse (a Gartner company), of 200 executives, directors, and VPs representing companies across the globe with 500 to 10,000+ employees. GoodData surveyed business leaders about their priorities and approaches to data democratization, budgeting, and breaking down data silos.
Top findings of the survey are:
- 46% of companies have self-service insights and dashboards as a top analytics priority for 2022.
- 80% of IT executives have either modernized or begun to modernize their data infrastructure.
- 67% of companies see data duplication as the top issue with insight consumption.
- 75% of organizations have their data and analytics managed by IT or a separate data/BI department.
GoodData’s report indicates that business leaders are looking to ground more decisions and strategies in consistent, reliable data in 2022 and thereafter. When leveraged properly, a company’s data can result in critical gains such as new products and services, better customer acquisition, higher customer retention and satisfaction, and increased revenue.
The report also includes GoodData’s predictions for data analytics in the new year. GoodData foresees a composable future for analytics, including broadened flexibility and consistency of existing organizational analytics programs; a rise in cross-functional teams to improve data management and quality; an industry-wide shift to the cloud to meet rising data needs; and greater efforts to balance flexibility with governance.