the present - the history of business intelligence
TRANSCRIPT
The present of business intelligence.A radical change in the use of business intelligence.
The present.
CHAPTER 2
BI as it is.THE PRESENT
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The BI markets.Global revenue in the business intelligence (BI) and analytics market is forecast to reach USD $16.9 billion in 2016, an increase of 5.2 percent from 2015, according to the latest forecast from Gartner, Inc.
THE PRESENT
$5.7b $10.5b $16b $16.9b $26.9b
2005
2010
20162015
2020
“THE PRESENT
The BI markets.
“The shift to the modern BI and analytics platform has now reached a tipping point.”Ian Bertram managing vice president at Gartner
As analytics has become increasingly strategic to most businesses and central to most business roles, every businessis an analytics business, every business process is an analytics process and every person is an analytics user.
THE PRESENT
The BI markets.
Within the last five years, there has been a shift towards creating business intelligence software that offers simplicity and ease of use for staff members across a company.
In the process, a data driven executive, a Sales Manager or the Head of Marketing can start analyzing data in minutes.
THE PRESENT
BI for anyone.
As more staff members are making decisions and making them quickly, the business benefits of using a business intelligence tool are higher.
More staff can make decisions.
THE PRESENT
more staff can make decisions.
THE PRESENT
‘Data discovery’ is the term used to describe the act of discovering opportunities that are hidden in the data held in company business systems.
Data discovery is not just about reports - it’s about following your train of thought through all of your data including grids, visualizations and dashboards.
Another shift in business intelligence can be seen in the rapid decrease in cost.
Business intelligence software is often significantly cheaper and it is now likely to be on a subscription base.
Lower costs.
THE PRESENT
Lower costs.THE PRESENT
Integrating a business intelligence package no longer requires the use of expensive consultants and often no hardware is needed as BI is run in the ‘cloud’.
For those who worked on business intelligence projects 10-15 years ago, you may be used to complex projects with long implementation times.
Fast forward to today and business intelligence projects are often department led instead of IT led. As a result, BI software can be implemented and integrated with internal systems quicker than ever before.
THE PRESENT
Lower implementation times.
On one hand, the shift away from IT affords many benefits as staff members across a business can have access to and generate their own reports.
THE PRESENT
Shifting away from IT.
On the other hand, this ‘ease of access’ can create governance issues as incorrect data may be used to justify business decisions.
Shifting away from IT.
THE PRESENT
THE PRESENT
The industry analyst Gartner asserts there is a growing concern regarding the benefits of self-service reporting (time and efficiency) as opposed to IT driven reporting which has governance measures in place.Businesses will need to ensure they weigh up the benefits of easy access to data as opposed to implementing a governance structure that protects the business from data leaks or inaccurate reporting.
Shifting away from IT.THE PRESENT
2015.THE BARC SURVEY
To explore the present state of business intelligence in more detail, we turn to the industry analyst, BARC Research.
Each year, BARC conducts the world’s largest business intelligence user survey. In 2015, there were 3,267 respondents to their survey. According to BARC, when purchasing a modern day business intelligence solution, users are most after:
BARC.THE PRESENT
What benefits to the business can be gained through business intelligence software?
In this graph taken from BARC BI 15, Phocas Software has been ranked as the #1 visual discovery vendor for ‘Business Benefits’ by users of business intelligence tools.This includes vendors with a higher market share including Qlik and Tableau.
THE PRESENT
Business benefits – Top rankedPeer group: mid-sized deployments (Americas)
Defined as the achievement level of a variety of business benefits.
Phocas is #1 in business benefits.
As mentioned previously, implementing a business intelligence tool into your organization can be costly and take a significant period of time.
Users of BARC have ranked Phocas in 1st position for ‘Project Success’, indicating Phocas implementations and projects are usually on time and meet budget.
THE PRESENT
Project success – Top rankedPeer group: mid-sized deployments (APAC)
Based on the implementation satisfaction level and the frequency of projects completed on time and on budget.
Phocas is #1 in project success.
Phocas is #1 in implementer support.
According to BARC, the time it takes to implement a business intelligence tool into an organization has significantly decreased yet companies adopting a business intelligence solution are still seeking implementer support.
Implementer support measures user satisfaction with the level of the implementer’s support for the product.
THE PRESENT
Implementer support – Top rankedPeer group: mid-sized deployments (EMEA)
Other features in demand.
THE PRESENT
FASTER REPORTING
ACCURATE REPORTING DASHBOARDSAGILITY
How long ittakes to generate
a report.
Being able to assess true and
factual data.
EASEOF USE
A BI tool that is simple to use
and easy to view/generate reports.
A style of business intelligence that promises faster, better results.
Dashboards can pull real-time information
from a number of sources and enable a
decision maker to have a bird’s eye view of business activity.
THE PRESENT
Other features in demand.Self-service: Being able to access data and generate reports without a technical or IT background.
THE PRESENT
Other features in demand.Big data analytics:is not just about volumes but also the velocity and variety of data.
Modern day professionals often want to analyze and review multiple datasets from internal tools such as an ERP or CRM as well as data from outside sources such as Census, social media and warehouse systems.
THE PRESENT
Other features in demand.Project length: Many businesses in need of a business intelligence solution do not have large time or resources to spend on a BI project.
As a result, there is an increasing demand for a quick implementation. In 2015, implementing a leading BI tool such as Phocas into a business can be done in a matter of days.
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