In the world of B2B software, analyst firms hold the power to influence the buying decisions of IT leaders. These analyst firms map out the software landscape and make predictions based on trends in industry reports. However, the COVID-19 pandemic revealed that digital needs can change quickly and dramatically. In the face of the rapidly evolving software ecosystem, do IT leaders trust that analyst firms are keeping up?
Pulse surveyed 120 IT leaders to understand:
• Why they turn to analyst research firms, what they hope to achieve, and how satisfied they are
• Their concerns with data and the challenges they face working with analyst firms
• What alternative sources of research they turn to
Data collected from Nov. 17, 2020 - Jan. 14, 2021
Total respondents: 120 verified IT leaders
By working with an analyst research firm, IT leaders hope to gain insight for developing new strategies (64%), access information that confirms/enables them to evaluate current strategies (57%), and understand peer decision-making processes, purchases, and best practices (44%). When it comes to identifying the correct tool for the requirement, only 10% of IT leaders turn to analyst research.
Reputation (67%), data accuracy (65%), and timeliness of data delivery/turnaround time (53%) are top priorities for organizations when utilizing an analyst firm.
High costs (66%) and research insights that are too broad (52%) are the top challenges with analyst firm research. One-third (34%) are concerned about the transparency around data quality—how was this data gathered?
Most leaders (94%) say they question the accuracy of the data collected. 16% always question the accuracy of data from analyst firms.
They're most concerned about the quality of the analysis/results (28%) and where the data comes from (28%). Only 2% have no concerns about the quality of research from analyst firms.
Most leaders (90%) agree that information sourced from analyst firms helps them achieve their objectives.
Yet, almost two-thirds of IT leaders will either no longer use research from the same analyst firm(s), or are open to exploring other research options in 2021.
“[One thing I’d like to see analyst firms do better is] have more comprehensive in-depth analysis and better visibility about respondents and the quality of data.”
- Director at a small software company
IT leaders primarily turn to tech/industry news websites (66%), personal research, (63%), and individual reports/white papers available online (58%) for industry research. Only about half (53%) rely on one-on-one conversations with peers.
Pulse is a social research platform trusted by 27,000+ verified CxOs, VPs, and Directors around the world. These leaders rely on the community to make connections, share knowledge, get advice, and stay on top of current trends in the technology space. The questions, polls, and surveys posted in the platform are curated in Pulse’s One-Minute White Paper reports, which reflect what technology leaders care about right now—and in the rapidly evolving world of software, real-time data and insights is what matters most.
Learn more about Pulse at www.pulse.qa or reach out to email@example.com.