Building A New Type Of Business Intelligence

By Jeff Charles

Findings from a recent study by Gartner showed that the number of organizations embracing business intelligence (BI) platforms continues to grow, but more focus is being placed on business-led, agile analytics and self-service features rather than IT-led system-of-record reporting.

Overall, Gartner predicts that the global BI and analytics market will reach $18.3 in value this year, an increase of 7.3 percent over last year, and the market will grow to $22.8 billion by the end of 2020.

Close up on smiling beautiful business woman with light flare over shoulder from large window in office with group

“Purchasing decisions continue to be influenced heavily by business executives and users who want more agility and the option for small personal and departmental deployments to prove success,” said Rita Sallam, research vice president at Gartner. “Enterprise-friendly buying models have become more critical to successful deployments.”

Findings from a recent study by Gartner showed that the number of organizations embracing business intelligence (BI) platforms continues to grow, but more focus is being placed on business-led, agile analytics and self-service features rather than IT-led system-of-record reporting.

Overall, Gartner predicts that the global BI and analytics market will reach $18.3 in value this year, an increase of 7.3 percent over last year, and the market will grow to $22.8 billion by the end of 2020.

“Purchasing decisions continue to be influenced heavily by business executives and users who want more agility and the option for small personal and departmental deployments to prove success,” said Rita Sallam, research vice president at Gartner. “Enterprise-friendly buying models have become more critical to successful deployments.”

Businesses now more than ever are craving the tools to analyze diverse, often broad and complex, combinations of data sources. “We are able to integrate datasets from Facebook, social media, email campaigns, web traffic, mobile applications, online ad exposure, and third party applications such as Hubspot, Optimizely, Salesforce and many more — into a single, complete picture for companies. This allows them to truly see the success of behavioral analytics because they are capable of analyzing an entire customer journey, not just clicks on a website,” says Schoenbaum.

Cloud Deployments

Previous generations of business intelligence tools assisted with the cognitive awareness of clicks and page loads on the web and mobile arenas, but required a sprawling architecture that included brick-and-mortar data warehouses and separate visualization tools. This created a complicated workflow and failed to provide a full and efficient analysis of business analytics.

In fact, data warehouses still have a complicated integration process, requiring knowledge of SQL and a development team. Not to mention the separate products to build out the warehouse are a huge expense, Mixpanel for funnel analysis, Amazon Redshift data system, and Tableau for dashboarding and BI.

However, “Cloud deployments of BI and analytics platforms have the potential to reduce cost of ownership and speed time to deployment,” according to Rita Sallam, research vice president at Gartner. As digital marketing and sales become more integrated and advanced, the need for a transparent, central view of data will only continue to increase.

Source: smallbiztrends.com

Sign up for Updates

Leave a Reply

Your email address will not be published. Required fields are marked *

Notify me of new posts by email.