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End users agree: Pooling all database information makes companies more competitive
Independent Survey Commissioned by Kognitio Uncovers Key Competitiveness Factor
Marlow, United Kingdom - 26 September 2007 - Kognitio, a leading provider of business intelligence (BI) and data warehousing solutions, today published the results of an independent survey carried out this summer. Polling one hundred IT decision makers in industries such as financial services, retail, distribution, transport, manufacturing and utilities, the study aimed to gauge end users' view on the impact that having information stored in independent databases has on their competitiveness.
The majority of respondents across all industries agreed that "Having all the information from the various company databases residing in one, single repository makes a corporation more competitive":
- Financial Services: 71%
- Manufacturing: 62%
- Retail, distribution, and transport: 63%
- Other commercial e.g. utilities: 71%
From the survey results, it can be safely assumed that it is those businesses that rely more heavily on electronic data such as financial institutions and utilities, that tend to benefit the most from merging the information held on databases. Regulatory compliance demands placed on the financial sector have meant that these organisations must have their house in order; all business users must have a complete view of their business and see the same data. However, more worrying is that 37% of companies in the retail, distribution and transport space do not see the need for central data repositories. And yet, it is more typical in these companies that data is spread across the organisation on completely separate applications such as stock management, ERP and POS. To conduct any sort of detailed analysis of their business typically means that users first have to pull together information from several database before being able to query it. This is a complex and time-consuming task.
"When you run a business, you need to have a holistic view of your various projects, promotions, departments and branches. Only then can you get an accurate and reliable picture of your business and how successful you are,"explains Roger Llewellyn, CEO at Kognitio. "All too often however, data is spread across the entire organisation and held in multiple repositories including spreadsheets. As a result, many individuals in businesses try to create their own analysis of data from different sources. Their findings often lead to inaccurate conclusions or to focus on many random strategies.However, using Kognitio's WX2, organisations can pool information from separate databases and ask any question, and all users can get consistent detailed analysis very quickly; in a matter of minutes, not the usual days or weeks that they are used to in fact."
In addition, the survey found that the higher the number of employees in an organisation, the stronger the agreement. While in companies with between 1,000 and 3,000 people 61% of the respondents said a single repository of data would make them more competitive, in businesses where the number of staff is higher this figure rose to 71%. This is likely to be the result of a higher number of branches, offices or departments and the subsequent geographical dispersion of data.
About Kognitio WX2
Kognitio's WX2 business intelligence solution aims to help organisations migrate operational and transactional data to a single repository and give users, from management to departmental level, access to the right information at the right time, thus allowing them to gain insight into which events, changes, behaviour and circumstances impact costs, revenue and margin. As a result of this intelligence, businesses can then drive growth, performance, competitive advantage and ultimately, profits.
About Kognitio
Kognitio is an innovative, technology-rich company, providing leading-edge solutions to businesses that require the acquisition, rationalisation and analysis of large or complex data volumes. Kognitio's offering is centred around three areas: Data Migration expertise, WX2, the fastest and most scalable analytical database on the market and managed services. All three areas are complemented by an extensive professional services team focused on ensuring businesses gain competitive advantage from their data.
With a strong specialisation in the insurance and financial services sectors, Kognitio's data migration services offer lower risk and lower cost solutions to companies that are rationalising and consolidating operational platforms. Kognitio has the largest independent migration services team in the UK. With its industry-leading analytical database offering, WX2, Kognitio is quickly able to turn a company's raw data into valuable business insight, empowering them to obtain comprehensive answers to critical business questions. Kognitio's data warehouse managed services model allows its customers to focus on running their businesses and increasing the bottom line. By adopting Kognitio's outsourced approach, customers are able to reduce management time and costs, as well as avoid expensive product acquisition outlays.
Headquartered in Marlow, UK, Kognitio delivers competitive advantage to its clients in various industries, including telecommunications, the financial sector, retail, leisure and utilities. For more information, visit www.kognitio.com, call +44 (0)1628 400 000 or email info@kognitio.com
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