Executives have increased business analytics usage

The pandemic has spurred rapid adoption of enterprise technologies around the globe, according to ManageEngine. The first report of The 2021 Digital Readiness Survey found that U.S. executives have truly upped the ante — 67% have increased their use of business analytics compared to 47% of executives outside the U.S.

0% of U.S.-based respondents reported increased usage of artificial intelligence (AI). 72% of these respondents are relying on the technology to increase operational efficiency while 70% of them are using it to improve business analytics.

This rapid growth in the use of business analytics corresponds with what executives have learned in the past year: To improve decision-making, successfully leverage available data and enable faster decision-making processes — a sentiment that 70% of U.S. respondents agreed with.

The driving force behind accelerated analytics in the U.S. is data-driven decision-making

• 77% of respondents are using business analytics for improved decision making.
• Another 69% have improved the use of available data with business analytics.
• 65% stated that business analytics helps them make decisions faster.

Artificial intelligence gains business trust

• 76% of U.S. respondents report their confidence in AI has increased in the last two years.
• Conversely, only 22% of respondents’ confidence has stayed the same and 3% have less confidence in AI.

Customer experience is key around the world

• 59% of U.S. respondents are leveraging AI to improve customer experiences.

Analytics usage

• While 61% of IT teams and 67% of executives saw the highest increase in leveraging analytics in the U.S., marketing leaders saw a 44% increase in the use of business analytics.
• Research and development teams saw a 39% increase, software development and finance saw a 38% increase, sales saw a 37% increase and operations saw a 35% increase of new analytics users.
• HR and manufacturing were among the groups that showed the lowest increase in analytics usage.

“The COVID-19 pandemic forced businesses to adopt—and adapt to—new digital technologies overnight,” said Rajesh Ganesan, VP at ManageEngine. “These findings indicate that, as a result, organizations and their leaders have recognized the value of these technologies and have embraced the promises they are offering even amidst global business challenges.”