How Data & Analytics software vendors get through the crisis
Carsten Bange
Founder and CEO at BARC - offering data & analytics leaders the best independent information and advice on data strategy, organization and technology, Host of The Data Culture Podcast
by Dr. Carsten Bange, Founder & CEO, BARC and Regina Schmidt, Editor, BARC
Read this article in German here
The crisis caused by COVID-19 has also led to considerable challenges and changes for Data & Analytics in companies. This is shown in a study we published at BARC in July (in German). In April and May we have asked 700 companies how the corona crisis affects data and analytics teams in companies.
Now we wanted to know: What effects does the current situation have on Data & Analytics software vendors?
In an anonymous survey two weeks ago, we asked more than 50 software vendors for data & analytics from Europe and North America how they are getting through the crisis.
A third of the participants said that they had experienced a slight decline in business and that the situation is still difficult. Another 15% even reported a sharp decline. It shows that the crisis is currently having a negative impact on almost half of the software vendors surveyed (48%).
How did business develop for your company in the COVID-19 times? (n=52) ? BARC
"Business as usual" applies again to 38% of the respondents according to the survey results. While one fifth only experienced a slight decline in business, 17% of software vendors have already recovered from a sharp decline.
One in ten of the software vendors surveyed experienced no effects or changes. A small percentage of software vendors, 4%, reported that their business had even grown more than usual.
The results provide an insight into the current situation. In many personal conversations a clear majority of data & analytics vendors and also service providers are very positive about a rapid recovery or even stronger growth than expected, as many companies have recognized how important data and analytics are for their survival in such dynamic times.
Padel Club Founder and Certified Coach
4 年Thanks for sharing Carsten Bange. The desire to transform is certainly there, and technology is key to this. The problem is that there are still barriers that stop or slow this, including the inevitable restrictions on investment funds available to do this. Good to see that most vendors are not too heavily impacted which suggests projects are still moving forward. We await the paradigm shift that will see transformation (and technology) taking centre stage!