Many organizations have expanded their analytics capabilities by capturing “big data” to explore new business capabilities. Now, some want to accelerate those capabilities by moving beyond experimentation with analytics toward more mature investments and capabilities.
Pure Storage® recently partnered with Enterprise Strategy Group (ESG) to sponsor a study that examines the benefits of these investments and reveals the impact of mature analytics and the strategies behind them.
Survey respondents were grouped according to their level of analytics maturity. Stage 3 organizations have the most mature analytics capabilities, followed by Stage 2 and Stage 1 organizations with less mature analytics programs. Business outcomes from analytics between the three groups were compared—and the results were astounding.
Compared with Stage 1 organizations, Stage 3 organizations are:
Overall, Stage 3 vs. Stage 1 organizations report positive impacts on operational efficiency, product delivery, and customer retention.
The conclusion? Companies investing in analytics maturity can yield significant competitive advantage over their less-mature counterparts.
The ESG report states that “businesses that neglect analytics investments willingly, or unwillingly, accept immeasurable levels of risk”—so what are organizations with mature analytics programs getting right?
Looking into the habits of Stage 3 organizations also provides some clear takeaways and best practices. For one, supporting a variety of analytics types is important. Mature analytics programs are varied and robust, with real-time or streaming analytics. Maybe even more telling are the winning infrastructure design and investments behind mature analytics organizations, including high-performing flash storage solutions.
Modern data solutions like Pure Storage can be the difference between a stalled analytics strategy and one that excels, offering:
Pure can help you accelerate time to insights, unlock more data, and simplify management for analytics infrastructure. In turn, you’ll be working smarter and focusing more on game-changing innovation. It’s all in the simple-to-use infrastructure and self-driving management that makes data storage seamless and easy.
If your business is not yet analytically mature, there’s still time to evolve. But don’t wait long. As the ESG report warns: “Ignore analytics at your own peril.”
Learn more about solutions for modern analytics from Pure.