Analytics Pays Back $10.66 for Every Dollar Spent
A recent study by the Nucleus Research (see copy HERE) says that Analytics pays back $10.66 for every dollar spent. The study is based on data from 60 case studies and relates to investments in Business Intelligence, Performance Management and Predictive Analytics. Not surprising are the areas where they saw ROI increase – revenue, gross margin and expenses.
Although skepticism can be warranted for technologies that are new or unproven, managers who continue to balk at investing in analytics technologies are doing their organizations a disservice. Given returns of 10.66 dollars for every dollar invested in analytics, these technologies represent one of the richest investment opportunities available to organizations. Analytics also represents an opportunity to acquire a competitive edge. With so many organizations opting not to invest in analytics, the companies that use analytics to learn more about their customers, products, and costs will be in a position to cost effectively grow their business at the expense of rivals.
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