Companies fail to get the most out of business data

Businesses are not using business data effectively, according to a study from analyst Quocirca for Oracle.

The research showed that only a third of...

Businesses are not using business data effectively, according to a study from analyst Quocirca for Oracle.

The research showed that only a third of businesses rate their ability to assess the potential success of new product or service investments as six out of 10 or higher

Only 12% of organisations consider themselves well placed (score seven or more out of 10) to determine profitability by product line, customer segment, market, channel.

The study, called the Oracle EPM Index, asked 800 business decision-makers in Europe and North America, including 100 in the UK, to rank their organisations on the processes and accuracy of information in their companies.

Most organisations admitted they were slow to respond to changes in market and business environments, with just 13% of respondents believing themselves to be well placed in this regard. The UK was markedly the most responsive in using processes to deal with critical events.

Oracle's vice-president for Enterprise Performance Management, Mark Wilkinson, said, "The research shows that companies are good at visualising historical data, but not so good at forecasting and scenario planning."

He suggested that the use of desktop business intelligence tools was hindering companies because data was distributed on PCs rather than centralised.

Oracle plans to run an EPM benchmark every six months from now on, to assess whether businesses are making better use of the information they hold.

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