Qlik launched two new resources that build on the recent global IDC study sponsored by Qlik, which shows organizations that invest in creating data-to-insights (D2I) capabilities through modern data and analytics pipelines are seeing significant gains.
Through the new IDC hosted assessment tool, every organization can evaluate the strengths and gaps in their own data pipelines. The tool also provides a set of recommendations that will help organizations better support and focus on strategic investments that can have significant bottom line impact.
“Organizations across the globe are missing a crucial opportunity to impact their performance by turning data into ongoing business value due to gaps in leaky data pipelines,” said James Fisher, Chief Product Officer at Qlik. “Qlik’s unique end-to-end approach to data integration and analytics can help any organization act at the speed of data through improved data-to-insights capabilities that drive tangible business outcomes.”
Additionally, a new Qlik data analytics application titled “Data as the New Water: The Importance of Investing in Data and Analytics Pipelines” provides a detailed geographic breakdown of the significant differences in how respondents in key markets such as the US, UK, Brazil, Australia, Singapore and Japan are positioned to either reap the benefits or fall behind competitors based on the strength of their data pipelines.
The overall survey of 1,200 business leaders shows that companies carrying the highest demonstrable D2I capabilities through modern data analytics pipelines (Leaders) are seeing significant bottom line impact.
- 88% of Leaders said operational efficiency improved (versus 76% overall), and the average improvement was 21% (versus 17% overall)
- 86% of Leaders said revenue improved (versus 74% overall), and the average improvement was 23% (versus 17% overall)
- 90% of Leaders said profit improved (versus 76% overall), and the average improvement was 24% (versus 17% overall)
In Asia Pacific, the findings show key differences in how each country is approaching data pipelines and their D2I capabilities, and how those approaches are impacting business performance.
- The average D2I score is 41.8 across Asia Pacific: India showed the highest overall score at 47.4, with Australia close behind at 42.4; Singapore and Japan carried the lowest scores at 38.8 and 38.5, respectively.
- One of the strongest impacts of a higher D2I score beyond increase in profit or revenue is an increase in customer satisfaction/loyalty, essential for businesses during a COVID- 19 impacted market. The overall average of increase in this category was 21.5%, with Australia leading with a 27% improvement, followed by Singapore (21%), India (20%), and Japan (18%).
- Virtually every company surveyed across Asia Pacific (96% or higher) reported a significant challenge in identifying which data sources were valuable: Singapore recorded the highest rate of this challenge (100%), followed by India (98%), Australia (97%), and Japan (89%).
Regardless of regional differences, every organization is inundated with complex and varied data types. Many are struggling to maximize the value of that data since it is flowing through unintegrated and leaky data pipelines, often due to a lack of a data catalog and change data capture capabilities. In addition, investments in AI and analytics are being undercut without an agile, automated, and agnostic data pipeline that continually transforms data from any cloud, system or source into enterprise-ready information that drives action and outcomes.
Qlik’s data integration and data analytics platforms, together with its data literacy as a service offering, deliver the industry’s only end-to-end approach to Active Intelligence. Unlike traditional BI, Active Intelligence realizes the potential in data pipelines by bringing together data at rest with data in motion for continuous intelligence derived from real-time, up-to-date information, and is specifically designed to take or trigger immediate actions. This eliminates data leaks by closing the gaps from relevant to actionable data (Qlik Data Integration), actionable data to actionable insights (Qlik Analytics) and from investment to value (Data Literacy as a Service). (Source: Qlik)