Ventana Research Unveils State of Business Analytics for Consumer Goods Industry

Comprehensive new benchmark research finds spreadsheets and processes plague efforts

2011-10-19

SAN RAMON, CA, October 19, 2011 (Press-News.org) New benchmark research from Ventana Research finds that consumer goods businesses are beginning to mature their competencies in the key areas of people, processes and information and technology, but need more business attention to improve significantly.

Business employees, managers, and executives, under mounting pressure to operate more efficiently and make better decisions, are always looking for improved ways to analyze information in order to predict future outcomes and identify how to best take advantage of them. This new benchmark research from Ventana Research, the leading business technology research firm, presents comprehensive, research-based information on consumer goods businesses' attitudes towards business analytics.

The new research shows that 41 percent of consumer goods businesses lack full confidence in the quality of the information being generated by their analytics. One factor that contributes to this situation, the research finds, is the reliance on spreadsheets to generate business intelligence and analytics; three-fifths of consumer goods organizations use spreadsheets as their only tool to generate analytics. Both this and previous benchmark research from Ventana Research show conclusively that spreadsheet use is associated with poor accuracy and timeliness.

"Several steps can be taken by consumer goods businesses to obtain more accurate data and thereby become more confident about their business analytics," said Mark Smith, CEO and chief research officer of Ventana Research. "Our new research provides detail on how consumer goods organizations can mature and make improvements with the help of accurate, accessible, easy-to-use analytics."

This in-depth benchmark research on business analytics, the latest from the leading business technology research firm, assessed the maturity and direction of consumer goods organizations' efforts around the world. Ventana Research undertook this research to acquire real-world information about maturity, trends and best practices in how they use analytics and key indicators. It explores how they do this now, how they view their existing processes and tools, plans they have to change or improve them, and the benefit they hope to gain by doing so.

To view the webinar, visit: http://www.ventanaresearch.com/conpawebinar.

Those interested in learning more about this benchmark research can find additional information at http://www.ventanaresearch.com/conpa/. As a part of your registration you will receive insights and education from Ventana Research on using technology effectively in business. Ventana Research thanks those that participated in the benchmark and our media and association partners who helped make this vertical industry research a reality. Ventana Research provides guidance to organizations in business analytics through its Ventana OnDemand (http://www.ventanaresearch.com/ondemand) and with its assessment and educational services offerings. (http://www.ventanaresearch.com/services/)

About Ventana Research

Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. We provide insight and expert guidance on mainstream and disruptive technologies through a unique set of research-based offerings including benchmark research and technology evaluation assessments, education workshops and our research and advisory services, Ventana OnDemand. Our unparalleled understanding of the role of technology in optimizing business processes and performance and our best practices guidance are rooted in our rigorous research-based benchmarking of people, processes, information and technology across business and IT functions in every industry. This benchmark research plus our market coverage and in-depth knowledge of hundreds of technology providers means we can deliver education and expertise to our clients to increase the value they derive from technology investments while reducing time, cost and risk.

Ventana Research provides the most comprehensive analyst and research coverage in the industry; business and IT professionals worldwide are members of our community and benefit from Ventana Research's insights, as do highly regarded media and association partners around the globe. Our views and analyses are distributed daily through blogs and social media channels including Twitter, Facebook, LinkedIn and Business Week's Business Exchange.

To learn how Ventana Research advances the maturity of organizations' use of information and technology through benchmark research, education and advisory services, visit www.ventanaresearch.com.

Media: Copies of benchmark research report and interviews are available upon request.

Media Contact:
Mendeil Bailey
(925) 242-2412
marketing@ventanaresearch.com

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