Study: More growth on the way for multiple BI sectors | The Business Management Blog

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Study: More growth on the way for multiple BI sectors

2/1/2013 at 6:57 am by

Business intelligence (BI) applications became one of 2012′s must-have technologies – a list that also includes cloud computing, social media and mobile solutions. At the same time, many of these innovations will likely intersect with one another in 2013.

In a recent blog for SmartData Collective, Mark Smith, CEO and chief research officer at Ventana Research, highlighted the results of his firm’s enterprise technology study, which found that business analytics ranks as the top priority for organizations. An earlier Gartner survey of more than 2,000 CIOs yielded similar results, with analytics and business intelligence ranking as the No. 1 goal for IT departments in 2013.

“IT needs new tools if it hopes to hunt for technology-intensive innovation and harvest raised business performance from transformed IT infrastructure, operations and applications,” said Mark McDonald, group vice president and fellow at Gartner.

The Ventana Research report found that at the moment, nearly half of companies are unsatisfied with their existing BI systems – particularly when it comes to receiving accurate results (cited by 22 percent of respondents), limited access to data (35 percent) and integrating information into their architectures (55 percent). 

As a result, BI and data analytics investment is projected to rise again in 2013, with many different sectors driving that growth, including:

Mobile BI: Everything appears to be going mobile these days, and that is certainly the case with regard to business intelligence tools. The Ventana Research study found that mobile BI deployment leads to improvements across the board, from better sales numbers (cited by 38 percent of respondents) and customer service (48 percent) to more productive employees (55 percent).

“Only a minority of companies have deployed mobile BI, but for the ones that are successful, the adoption rate is at 39 percent,” said Cindi Howson, founder of BI Scorecard, according to Information-Management. “That’s about 15 percent higher than the industry average. I think it will be the technology that helps BI become more mainstream and impactful.”

A separate survey by BI Scorecard found that although mobile BI deployment has been the least successful, business intelligence professionals expect the sector will be among the most improved in 2013.

The cloud: With cloud computing adoption rates already relatively high, the next phase will be for the sector to mature. With regard to cloud-based BI, Ventana Research projects that factors like data access, security, integration and governance will take center stage.

Social media and collaboration: Companies are increasingly leveraging social networking sides for a variety of reasons, from gaining competitive advantages to identifying new-hire candidates. In addition, 86 percent of organizations already use some form of social collaboration in the workplace. 

- Big data: Arguably the top driver of BI growth in 2012, big data is expected to remain popular for the foreseeable future. While only 14 percent of organizations are satisfied with the big data initiatives they have in place, those that deployed successful strategies have noticed a 28 percent bump in business, according to Ventana Research.

With cloud, social and mobile technologies on the rise, companies are looking to adopt big data solutions to manage and make use of this information.

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