By Laura Shores - April 15, 2020
When your market is experiencing rapid change, you need fast answers about what’s impacting your business. Yet the harsh reality is most companies aren’t able to use the data they have, relying instead on making “gut feel” decisions based on limited information.
The global research and advisory firm 451 Research recently published a new report on this very topic. In this research note featuring Sisu, 451 defines this conflict as a gap between the rich datasets that companies are capturing and their inability to get immediate, detailed visibility into the factors driving their business on a daily basis.
The first challenge 451 identifies is a self-inflicted one. Every company is amassing data about every event and business process in modern data warehouses. But at the same time, these organizations struggle to find real strategic value in that data because they don’t have enough time or resources to look at every individual event.
Krishna Roy, Senior Analyst for Data, AI & Analytics at 451 Research, captured this conflict expertly. “Organizations are drowning in data,” she said, “because it has become so easy to capture, store, stream and format. Yet understanding all this information and making it meaningful is still a challenge, which Sisu is looking to address using a purpose-built machine learning-driven tool.”
Simply put, the current tools that analysts are using are not up to the task. Established BI dashboards promise a deeper level of understanding, but their static views of data underdeliver on that promise.
“Understanding all this information and making it meaningful is still a challenge” – Krishna Roy, 451 Research
Every dashboard inevitably inspires more complex questions, which need to be answered with detailed, comprehensive analysis that can take hours or weeks for business intelligence and analyst teams to answer.
What if analysts were able to keep pace with changing data and deliver ad hoc, comprehensive analysis to the business very quickly?
Addressing this question, Krishna Roy noted that “Sisu is designed to be the place to start when fast answers to complex operational questions are required from a company’s structured data. Sisu also aims to be comprehensive owing to its ability to examine every possible factor in this data to explain why metrics are changing.”
Companies across a range of industries are focused on understanding their data and have made it a key part of their overall strategies. According to 451 Research, “A rapidly growing audience of business users are seeking to make decisions using data in recognition that this approach reaps significant rewards. Indeed, 77% of respondents to 451 Research’s Voice of the Enterprise (VotE) Data & Analytics 2H 2019 survey said data will be increasingly important to their organization 12 months from now, and 92% say that it will be as important or more.”
Read the full 451 Research report on Sisu here and dive deeper into the underlying technology, how high-profile customers are using Sisu today, and our focus on augmenting analysts’ abilities to deliver fast, comprehensive, and complete answers to these tough diagnostic questions.