At AAJ, we help our clients build and manage business intelligence (BI) strategies to gain more actionable insight; uncover what may be driving certain problems; identify opportunities for growth; and, essentially, take the guesswork out of key decision making.
With so much happening in the BI and analytics space (and so much yet to come) now is the perfect time to take a look at where the market is headed and how businesses can keep up. Here are a few top predictions for BI and analytics in 2015 and beyond:
Continued BI market growth: The worldwide BI and analytics market grew 7 percent in 2012 and 8 percent in 2013, and is expected to exceed $17 billion by 2016, according to Gartner. Overall, the industry pundit says that BI and analytics is the “fastest growing software market” as a whole. While this is a rather self-explanatory prediction, it is nonetheless important to cover.
Increased trust in strategic IT vendors: Business leaders are looking to get faster answers to their most pressing organizational questions with BI. They know how a comprehensive strategy can uncover those answers quickly to make better business decisions and improvements, but they don’t know where to get started. With the global managed IT services market expected to grow at a CAGR of nearly 10 percent leading up to 2018, and with IT “outsourcing” meaning so much more today than it did in years past (take a look at our blog here to see what we mean by this), BI and analytics has become a prime area of outsourcing among companies.
Increased attention on mobile analytics: We’ve said it before and we’ll say it again: Mobility and analytics go together like peanut butter and chocolate. With mobile use skyrocketing among employees—research from Cisco shows that traffic from wireless and mobile devices will exceed traffic from wired devices by 2018—mobile analytics has become a true game changer, offering mountains of data for companies to dig into to better understand and enhance their core business processes.
Expanded focus on BI for improving company culture: Companies are increasingly beginning to understand the truly expansive potential of BI, data and analytics. For example, data can be successfully leveraged to improve company culture and knowledge management efforts, working from the inside out to instill an organization with a more innovative spirit.
Here’s to yet another year filled with innovation in the growing world of BI and analytics! If you want to learn how our team of business intelligence analysts can help take your efforts to the next level, click here to schedule a consultation.