Is your business using analytics to function at the highest performance possible? You should be. Currently, only 24% of executives have created a data-driven organization. These organizations are 178% more likely to surpass their peers in revenue and profitability. So, what is keeping everyone from taking advantage of data analytics?
Some of the top barriers are low executive buy-in, poorly articulated data strategy, poor data quality, and data illiteracy. Thirty-six percent of executives don’t rely on data to make decisions, and 70% of executives don’t have a clearly defined strategy. Only 33% of businesses trust their data enough to see a real benefit, and only 21% of employees think they have strong data literacy skills. The result is that 73% of company data is never analyzed, and the bottom line is negatively affected by neglected analytics.
Google Analytics 360 is a great way for businesses to get a clearer data focus and receive the most benefit from their data. It’s a paid enterprise-level tool for large businesses. Google Analytics 360 has many benefits including data privacy, advanced data tools, support, and time-saving. The license also comes with an expert team to help capitalize on the analytics investment.
The bottom line is that a business operating without analytics has a much bigger blind spot and lower profitability.