As CFOs look for ways to fight inflation’s impact on margins, self-service analytics will be a critical tool for driving employee productivity, according to a survey by Gartner, Inc.
In December 2021, Gartner surveyed 400 finance executives and found the most selected combination of value and technology was self-service data and analytics as a driver of employee productivity with 49% of respondents indicating this perception of the technology. At least one in four respondents also saw it as being a driver of increased organizational speed and agility.
“Two out of three CFOs have raised prices in response to inflation,” said Alex Bant, chief of research in the Gartner Finance practice. “However, finding ways to improve business productivity and efficiency rather than simply passing on inflationary costs to customers will be a long-term driver of competitive advantage.”
The advanced data and analytics and AI technologies that are driving (or are expected to deliver) high value, and where investment is expected to increase, include: self-service data analytics, automated machine learning (ML) and ML, cloud analytics, big data analytics, and predictive analytics (see Figure 1).