Qlik published a report that stated the case for Active Intelligence as the future state of business. The study looked at the state of data literacy and the value for both employees and employers in providing education for workers. While Qlik has trademarked the term Active Intelligence, it firmly believes that more firms should seek to enter into what it calls the state of Active Intelligence. To achieve that, they will need to invest in both people and technology.
CIPHR
Is the great resignation slowing? New research by CIPHR found that although 64% of British workers found their last pay rise unfair, only 11% are actively seeking a new job. More worryingly, though is, 78% believe their pay rise does not match the rise in the cost of living.
45% of men and 53% of women have not yet received a pay rise for 2022. One assumes this means within the last year. A separate survey found that 63% of organisations expect pay increases during 2022, so there is hope.
The CIPHR survey looked at when pay rises are applied and how they are applied. Job performance is still the most important factor. The main factors are:
- Job performance (45%)
- Cost of living (37%)
- An employee’s potential (36%)
- Market rates for job roles (36%)
- An employee’s flight risk (21%)
Only 17% of employers are transparent about how pay rises are determined, 44% are aware to some extent, and 23% are to a great extent. It is not clear whether this has improved over the last few years.
Claire Williams, chief people officer at CIPHR, says: “Transparency around pay and reward processes and policies is important for ensuring a fair and equitable approach to pay and to ensure valid business reasons for any variances in pay. From an employee’s point of view, transparency around salary grades or pay banding structures helps to provide clarity around expectations of earnings.”
Prophix
A survey sponsored by Prophix found that senior finance leaders say technology and automation are essential to navigate the business impact of shifting post-pandemic macroeconomic trends. Furthermore, 82% are planning substantial upgrades to their FP&A solutions as the importance of planning rises. The main concern is retaining the talent that can help navigate the new technology.
Alok Ajmera, CEO of Prophix, commented: “The finance team, and CFOs in particular, have been under extreme pressure since the onset of the pandemic to lead their businesses through enormous uncertainty. Our survey shows many finance executives were able to quickly migrate their automated FP&A technology to the cloud during COVID-19 to address remote work.
“This underscores the need for digital transformation to enable financial professionals to be better equipped for whatever comes their way. But just as organizations are moving in the right direction with these technology advancements, our findings highlighted there is a shortage of employees proficient in these new technologies, particularly regarding the ability to accurately interpret data and analytics, which is a major concern for CFOs.”
Other key findings included:
- 25% of CFOs believe their financial planning, forecasting, and reporting capabilities are too slow for today’s turbulent business environment.
- 33% of CFOs believe the lack of skilled workers is causing significant obstacles to automate their FP&A processes
- 38% of CFOs point to data accessibility and accuracy in reporting as a top concern, which they believe can be alleviated through automated technologies and skilled talent.
Top areas of investment for finance exec in 2022 include:
- CPM software (55%)
- Business intelligence tools (51%)
- Artificial intelligence and machine learning (44%)
- cybersecurity technology (49.3%)
Pyramid Analytics
Pyramid Analytics published a report by 451 Research entitled “Decision Intelligence platforms are the enablers of data-driven decisions”. The report looks at the emerging disciple of Decision Intelligence and how it can improve business performance by democratising data-driven decision-making.
Key findings included:
- 32% of companies have yet to embrace a data-driven approach to strategic decision-making fully.
- Not all DI platforms provide the same functionality or meet the same needs.
- Companies should choose Decision Intelligence platforms with rigorous data management and a wide array of analytical functions.
- Decision intelligence requires new software, which includes AI and machine learning.
Chas Kielt, Vice President of Global Corporate Communications and Partner Marketing, Pyramid Analytics, commented: “Decision Intelligence is emerging technology that meets all traditional BI and Analytics needs, but delivers accessibility, performance, context, scalability and rich functionality that greatly surpasses legacy tools.
“Slapping a decision intelligence label on a limited data visualization point product doesn’t make it so. With this report, the 451 Research team is helping data scientists, data analysts, and data-minded business professionals understand the Decision Intelligence market landscape.”
Sage
Sage released a new study on the Canadian nonprofit sector, Grow Together: How digital transformation empowers Canadian nonprofit organizations to embrace change. The study looked at how nonprofits have evolved during the pandemic. Digital transformation is a top priority for 9 in 10 organisations. Many have started the process:
- 27% have already gone through the process and are digital-first
- 47% are in the process of digitizing key processes
- 16% have plans to digitize key processes
The report looks at the barriers faced, both external and internal. It highlights that 28% saw a drop in revenue during 2021. As a result, many turned to technology to optimise processes. Jennifer Neal, Director, Corporate Services, AdaptAbilities, commented: “The very interesting mindset change that really occurred for us with COVID-19 is technology was not seen as a cost centre, but technology was seen as an enabler – we invested money to make money.”
The report identifies the intended benefits. It also reveals that many are cautious about a return to growth in the year ahead:
- 44% expect an increase of 25% or higher
- 35% expect year-over-year revenue to remain flat
- 15% expect a decrease in revenue
- 8% are uncertain of their revenue projections
Oddly these figures don’t quite add up. Some will undoubtedly predict growth of up to 25%, and the sum of the existing categories is 102%.
Daniel Oh, Country Manager (interim), Sage Canada, commented: “We continue to admire the resilience of our nonprofit customers. As a technology partner to many Canadian nonprofits, we are encouraged by both the strategic and cultural shifts of these organizations.
“We recognize the dedication and hard work of nonprofits to support many important causes and are proud to be helping them uncover efficiencies and deliver insights so they can provide more and better service to their communities.”
SAS
SAS has published a report, ‘Delivering Experiences That Win Business and Build Loyalty: CX Champions Share Their Strategies’, that looks at the role of AI in the CX landscape. It found that 35% plan to increase investment in CX technology by up to 50% in the next two years. What was missing from this was the value of that investment now and in the future.
The report also highlights that CX champions are more likely (80%) to use analytics throughout the customer journey. They are 3x more likely to use AI than the laggards.
Different industries are using different AI technology. IT and Telecom companies are most likely to use CX tools. Retail and Consumer goods companies are more likely to use smart assistants embedded in phones and tablets. They are also slightly more likely to use live chat, personalisation technology, AI chatbots, and immersive experiences. Financial Services, perhaps surprisingly, lag.
Steve Perks, Customer Intelligence Practice, SAS, said: “It’s imperative that companies have a clear roadmap on where and how to get a return from investing in CX technology. MIT cautions against ‘random acts of technology’ because value is created only when the technology helps to address a particular issue and fulfil customer expectations.
“In today’s world organisations need to be prioritising technology that enables them to capture digital activity at a customer level, and dynamically manage those individual customers by incorporating analytics and AI into actionable real-time decisions.”
