New Findings on How COVID-19 Impacts Businesses, Budgets, and Projects
The COVID-19 global pandemic continues to create unprecedented impacts and changes the reality of life and business.
Unsurprisingly with a global pandemic, all businesses, budgets, and projects show significant impact. In these challenging times, more than ever, organizations need to understand data and use them to make informed decisions.
The responses to our survey indicate many organizations have this need, and prioritize business intelligence (BI) and analytics at a high level. BI and analytics budgets show much more stability than overall budgets, and key capabilities and technologies such as cloud computing (SaaS), self-service BI, and collaborative BI rising rapidly in perceived importance.
1. This pandemic impacts all businesses, regardless of organization size or location. Most see stable or worsening business conditions, and no clear signs of potential improvement of business conditions for many months.
2. Almost all respondents indicate exclusively remote and distributed workforces now. As such, technologies to support these needs, especially self-service BI and collaborative BI, quickly rise in perceived importance.
3. Despite the overall challenging business environment, almost half of respondents (49 percent) report launching new BI and analytics projects, or moving forward without delay on already planned projects. This likely reflects a desire and need to apply data and analytics to help identify potential options and solutions for the current challenging business conditions.
4. Compared to the impact of COVID-19 on budgets overall, respondents indicate much more stability and much less impact to their BI budgets.
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