Top 6 Challenges Facing Heads of Data Analytics- $22bn by 2020

What is a business without great challenges?

Heads of data analytics arguably face some of the most interesting challenges in business, due to the enormous potential of a newborn sector. According to the latest forecast from Gartner, Inc: “Global revenue in the business intelligence (BI) and analytics software market is forecast to reach $18.3 billion in 2017, an increase of 7.3 percent from 2016. By the end of 2020, the market is forecast to grow to $22.8 billion”

It is not just the rapid growth itself, but the speed that the market is growing, capacity of companies to build and adopt a data driven culture, the pace and volume of new emerging and innovative technologies and the demand for new skills in the workforce.

recent survey of heads of data analytics highlighted those as as top challenges:

  1. Achieving ROI from investment in data analytics.
  2. Overcoming challenges caused by legacy systems.
  3. Achieving a mindset shift across the business towards data adoption.
  4. Sourcing the right data science talent for your team.
  5. Market insights for data analytics accessible to employees across the business.
  6. Securing funds from the board for data projects.

Every company today is in a different maturity phase in their analytics journey, so there is not just one silver bullet strategy to address all issues. Finding a partner with the right experience of those could be critical for the success of your strategy. In SalesBI we have experience helping companies and teams to overcome these challenges with a solid and phased plan to address all these areas.

Contact us for a free consultancy meeting so we can understand your challenges and how can we help you build solutions.

SalesBI is a key sponsor for Data Insights Leaders Summit, held in Barcelona on October 18th and 19th.

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Sep 12, 2017