Several interesting pieces of research were published this week. Talend published its Data Health Barometer, which indicated a concerning trend in that data health is falling. It dropped over the last year across all five metrics the barometer uses. ManageEngine investigates the state of IT within organisations and some confusion about the strategic role of IT. There is a trend towards decentralisation, yet this faces constant challenges. The report also looks at where the responsibility for security lies and the growing usage of AI.
ActiveCampaign
ActiveCampaign unveiled results from a study on perceptions of major retail players and ways growing businesses can use CXA to get ahead and grow their business with a small team. It showed that 69% of Gen Z has a negative sentiment towards retail giants compared to 50% of Boomers. However, SMBs struggle to stay in the mind of consumers, with only 20% shopping on small business stores on Amazon.
The survey showed that small businesses must use social media platforms and channels to reach their audience. If they can scale their 1:1 audiences, they have a greater chance of success during the upcoming holiday season. 1:1 relationships can also trump prices. 60% of consumers said they’d be willing to pay more for a small business product as opposed to the lowest price.
The authors propose that SMBs try adding another layer of personalization, such as incorporating care recommendations to previously purchased items or those in their cart. This shows the business knows who that customer is. They should target Gen Z and millennials, as 40% and 32% respectively intend to prioritize shopping from small businesses for their holiday purchases and other special occasions, such as birthdays.
Jason VandeBoom, founder and CEO of ActiveCampaign, commented: “ActiveCampaign was founded to help businesses of all sizes grow, and that same mission holds true today. We’ve democratized access to technology that was once reserved for the largest of companies. Now, the playing field is levelled for solopreneurs and medium-size businesses alike. We will continue to listen to our customer’s needs and improve our technology to help even more businesses grow in the future.”
Billtrust
Billtrust commissioned Paradoxes Inc for a study that defines the current state of B2B eCommerce experiences in the US. The report is based on responses from 508 buyers and suppliers in the HVAC, electrical, janitorial/sanitation, plumbing and general contracting spaces. Key findings include:
- 80% of buyers across verticals say that they frequently purchase supplies online
- 60% of service providers say that their supplier’s eCommerce experience is “very important” to their relationship with the supplier
- 67% of B2B buyers report switching to vendors that offer a “more consumer-like” experience
Flint Lane, Founder and CEO of Billtrust, notes: “The reality is, the consumerization of B2B and the acceleration of eCommerce adoption is showing no sign of slowing. With Billtrust’s study illuminating buyers’ desire for B2B eCommerce experiences that resemble those they enjoy in their personal lives, it’s clear there’s a massive opportunity for suppliers to win business and boost ROI by tailoring their offerings accordingly. With the vast majority of buyers reporting an increase in profits from eCommerce buying, adopting a digital-first mentality is a win-win.”
Domo
Domo released its 10th Annual Data never sleeps infographic. It shows a 1700% increase in digital engagement on some platforms over the last decade.
John Mellor, Domo CEO, commented: “Over the years, Data Never Sleeps continues to showcase how people quickly adapt to and leverage the ever-changing world of digital platforms, apps and tools to help them solve pain points, navigate economic and political events, and find community. Each click, post, swipe and share contributes to the massive volume of data being created, and it’s no secret that this acceleration of data is not slowing down.”
Findings include:
- Twitter posts are triple those of 2013 but have declined by 40% from their peak
- Instagram users went from posting 3,600 photos per minute to nearly 66,000 per minute today
- Zoom users log 104,000 hours
- Email has increased 13% over the last decade
- Every minute, shoppers spend $443,000 on Amazon
Microsoft
Microsoft Corp. released a Work Trend Index Pulse report, “Hybrid Work Is Just Work. Are We Doing It Wrong?” The report highlights a growing disconnect between employers and employees. It highlights three actions leaders should consider.
- End productivity paranoia: 87% of employees report they are productive at work, but 85% of leaders say the shift to hybrid work has made it challenging to have confidence their employees are being productive. Leaders need to create clarity and alignment around company goals, eliminate busy work that doesn’t support those goals and listen to their people — 57% of companies rarely collect employee feedback
- Embrace that people come in for each other: 73% of employees say they need a better reason to go into the office besides company expectations — but they would be motivated to go in if they could socialize with co-workers (84%) or rebuild team bonds (85%). Digital communication will be crucial to keep people connected inside and out of the office. Both employees and leaders rank communication as the No. 1 most critical skill needed to be successful in their roles this year
- Re-skill to re-recruit your employees: 55% of employees say the best way to develop their skills is to change companies. However, they also say they would stay longer at their company if it were easier to change jobs internally (68%) or if they could benefit more from learning and development support (76%)
Procore
FMI Corp. released the results of The State of Global Preconstruction Report, sponsored by Procore. The key findings of a survey of 979 construction industry stakeholders include.
Above-average preconstruction shows significantly higher client satisfaction, greater profits and fewer delays. Yet less than 20% of organisations are conducting above-average preconstruction. The report gives a useful description of preconstruction. Effective preconstruction makes a big difference. Organisations performing above average preconstruction showed 5% higher profitability than those performing average preconstruction. They also had 7% fewer project delays. There is still room for improvement. More than half of the above-average organizations are still unsatisfied with their current solutions and construction technology has some opportunity to improve.
The report gives five recommendations to construction firms:
- Review preconstruction processes
- Start the preconstruction process early
- Invest in dedicated preconstruction resources
- Involve all project stakeholders
- Leverage technology to streamline the preconstruction process
Tooey Courtemanche, founder, president and CEO of Procore, commented: “The results from the State of Preconstruction survey are clear: investing in preconstruction can provide tangible returns on profit, schedule and client satisfaction. Many of the most successful contractors around the world focus their efforts on preconstruction because, ultimately, better planned projects drive better outcomes. Data shows that organizations are willing to invest in preconstruction, and construction is not slow to adopt technology but waiting for the right tech for their businesses. We’re proud to invest in Procore’s Preconstruction solution, which can help users manage designs, estimates, bids, and budgets across projects on one, integrated platform.”
SAS
Research by SAS shows UK PLC is sleepwalking into a major AI skills crisis unless immediate action is taken. Only 44% of firms plan to invest in AI technology. However:
- 63% said their staff did not have the AI skills necessary
- 61% did not have enough staff to deliver the benefits of AI
- 53% of respondents were unsure what AI qualifications and skills were needed
Glyn Townsend, senior director of education services at SAS for Europe, Middle East and Africa, commented: “Record employment, soaring inflation, the productivity conundrum and a permanent shift in consumer behaviour and expectations due to the pandemic, means demand for data science talent has never been higher. It will have wider repercussions for the economy, especially in the UK where there has been a tendency to outsource the need for analytics and AI skills to Asia Pacific and Latin America, compounding the problem in the global race for these skills.”
Townsend recommends 2 actions:
- “Consolidate diverse AI and analytics tools around modern, open, multi-language tools which will increase data science productivity 50% and empower end users to do basic analytics tasks, allowing data scientists to focus on core tasks.
- “Grow the UK and Ireland data science talent pool by reskilling existing staff and creating more university data science graduates. Encourage a diverse range of certifications including training courses from software tools vendors. And create attractive data science employee networks, career structures and employment benefits.”
UKG
A new study on pay equity in the US by UKG conducted by Harvard Business Review Analytic Services reveals that equity is getting closer. However, there are still systemic barriers to equity across gender and minorities in the workplace.
Brian K. Reaves, chief belonging, diversity, and equity officer at UKG, commented: “Equitable pay is a basic human right. It is fundamental to an individual’s sense of worth as well as their ability to care for themselves and others. We are all born with equitable talent, but society has shown we lack equitable opportunity. For far too long, the pay scales have been tipped in favor of white men. This study shows now, more than ever, that organizations must recognize the importance of prioritizing equal pay in the workplace, disparities persist, and employers’ actions are not always enough or aligned with employees’ expectations.”
The report highlights a gap between leaders and employee perceptions, although both deem it a strategic priority (74% leaders, 71% employees). However, only 41% believe their employers have achieved pay equity, and 26% say their organizations have failed to ensure equal pay for equal work. One issue is transparency, a lack of it, with 46% of employers not having transparency. There is also a racial divide, with 40% of Black and LatinX employees remaining silent, compared to 34% of Asian/Asian American and 28% of white workers.
Reaves adds: “What this data tells us is that pay inequity isn’t just limited to one specific attribute. It’s the intersectionality of all these things — race, gender, gender identity, sexual orientation, and more — that contributes to the persistence of unequal pay for equal work performed. Organizations and their leaders must commit to doing the hard work — putting in the time, effort, and resources to uncover where those biases exist, whether intentional or not — and take steps to correct the problem and do right by their people.”
Yooz
Yooz has published its 2022 State of Automation in Finance. 57% of UK finance leaders worry about a potential lack of new hires as businesses struggle to recruit talent. The challenges are threefold, a lack of skills (40%), wage demands (39%) and flexible working demands (37%). The UK shortage currently stands at 22%, according to Search UK.
Laurent Charpentier, CEO at Yooz, commented: “We already knew that there was a significant skills shortage in finance and accounting, but rather than closing the gap, it seems to be widening at a scarily rapid pace.
“Businesses are struggling to fill critical roles at a time of economic uncertainty, while employees can almost pick and choose who they work for. Businesses need to make themselves more attractive in order to attract new hires and retain existing talent in finance.
“This includes better benefits/perks, remote/hybrid working, graduate programmes, and the technology that can help decrease the amount of time they spend on painstakingly manual and time-consuming tasks.”
