Data Use vs Data Need: What should your business be prioritising?
July 21st, 2020
There is so much choice on the market for Business Intelligence and Analytics software. There are plenty of tools and software vendors on the market each battling it out for the consumers’ attention. Choosing software vendors isn’t a quick decision, with many factors in play. With this is mind, we asked our network within the data, technology and analytics industry what they look for when choosing a new software in our recent State of Data survey.
Out of all respondents to our survey 46% said they have implemented a new software product in their business in the past year. Before finding out why they chose a particular vendor we wanted to know which vendor they had chosen. Overwhelmingly the top answer, with 59.38% of respondents, Microsoft is the most chosen vendor of last year, with Tableau coming in second at 34.38%.
*other = Pyramid, Talend, Snowflake, Matillion, Denobo, R Shiny, HW-DAQs, Infoboss and Looker.
It’s no longer just about the price. While price does play a part in the decision-making process (35% of respondents stated this), it isn’t what drives a business to use a software tool. 56% stated they chose their vendor based on the reporting functionality and 50% based it on the reputation of the vendor.
This suggests to us that the easier the vendor makes it, the quicker the sale.
The reporting functionality of the software is incredibly important. Most software products are purchased with the longer-term in mind and must be used to maximise return on investment and to deliver real results. If the price is low but doesn’t offer strong reporting is it really value for money? What our survey suggests is that organisations are willing to spend more for better functionality and are looking at the longer-term results from the tools rather than short wins.
*Other = IM dept decision, Core products of existing software vendors within organisation, Came with Office365 which was needed for other reasons, Forced to, Adaptability, performance, cloud based, Free of charge and has all the feature I need, Flexibility, Because we wrote it, Work for the vendor.
In the age of social media reputation is so important. The customers are your biggest ally and these results back this up. Before making a purchase, potential buyers are reading reviews and asking peers for feedback.
Whatever technology is chosen it’s clear the buyers are looking at a range of options and not solely focussing on one aspect. Each purchase is made with return on investment in mind and the vendor that offers the best reporting, along with reputation is overwhelmingly being chosen.
What do you look for when choosing new business intelligence and data analytics software? What is the most important factor when choosing new software?
To learn more about these results and the state of data in 2020, download our whitepaper here.