TRENDING within three years and over one in ten ( 12 %) expecting their ROI to exceed 300 % within the same period . The findings underscore the business imperative for GenAI in analytics and the technology ’ s potential to deliver unprecedented business value .
The Impact on Business Decision-Making
Making swift , data-backed decisions is an important competitive advantage . It enables business leaders to quickly analyze complex datasets , forecast trends and simulate scenarios , enhancing their ability to anticipate and plan for market changes with significant accuracy . According to the report , the implementation of GenAI for analytics has already placed over a third ( 37 %) of early adopters far ahead of their competitors .
The Path to GenAI Success in Analytics
The success of GenAI implementation hinges on key factors : evolving skill sets , fostering strong collaboration between business and data teams , and selecting the right tools to support business strategy .
To achieve this , organizations must establish clear and consistent communication between their business and data teams – ensuring alignment on a common execution strategy .
The majority of early adopters ( 75 %) report strong partnerships and a centralized strategy , putting them in an advantageous position . In contrast , less than half ( 47 %) of planners – companies that haven ’ t yet adopted GenAI but expect to do so – have achieved
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