Only one-fifth of businesses (20%) have a company-wide strategy that ties data collection and analysis to business objectives, according to a new report Econsultancy and Lynchpin.
The Online Measurement and Strategy Report has tracked the extent to which data and business objectives feed into one another since 2009, with the results remaining fairly consistent for the past five years.
The proportion of companies who claim to be working a strategy has remained at around 60% since 2009, which indicates that these companies aren’t having much success at achieving their objectives.
This could be down to the increased availability of data, which makes it more difficult for businesses to effectively collect and analyse potentially disparate datasets.
Do you have a company-wide strategy that ties data collection and analysis to business objectives?
The sixth annual Online Measurement and Strategy Report contains a comprehensive analysis of issues affecting the web analytics industry and valuable insights into the use of analytics and business intelligence tools.
The 98-page report is based on a survey of almost 900 client-side and agency respondents within Econsultancy's user base.
But despite the fact that such a low proportion of companies have an overall business strategy for data analysis, almost nine out of 10 in-company respondents (86%) stated that web analytics did drive actionable recommendations that made a difference in their organisation at least some of the time.
Representing little change from last year’s results, only 14% stated that web analytics did not drive actionable recommendations. However it is less positive that those citing that web analytics definitely drove actionable recommendations have dropped in proportion, from 29% to 23%.
Do web analytics drive actionable recommendations that make a difference to your organisation?
Finally, companies were asked to state what percentage of the data they collect is actually useful to their organisation for driving decision-making.
Almost a third of companies (29%) stated that less than 25% of the data they collect is useful, while at the other end of the scale 12% of businesses believe that all the data they collect is useful for decision-making.
Approximately, what percentage of the web analytics data you collect is useful to your organisation for driving decision-making?