10 key stats illustrating advanced analytics adoption

Collecting data for the sake of collecting data does little for business value. Businesses know this, yet often operate under the assumption that data will eventually drive insight. In order for insight to contribute to business value, it cannot be done without asking relevant questions because they set the foundation for advanced analytics and a data-driven culture. Asking business-centric questions also means a company is working to enrich its data literacy, where "people are aware of what can be done with data," Erick Brethenoux, senior director analyst at Gartner, told CIO Dive in an interview. As one analyst puts it, data literacy is "information as a second language." But data is still fairly siloed in organizations, making meaningful connections difficult to form. There isn't a minimum amount of data for companies to collect to justify using advanced analytics, said Brethenoux. It is largely a relative term, previously known as predictive analytics, which used to be called data mining, and has been used for decades.