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Today, products like SAP’s Business Objects, IBM Cognos and Oracle Hyperion make up the leaders in the category of Business Intelligence software. IDC reports that the Business Intelligence and Analytics market will grow to nearly $50 billion by 2016. That market is seeing double digit growth annually.
But even though the BI market is seeing robust growth, all is not well with traditional Business Intelligence products. Big Data analytics is challenging the use of traditional tools. IDC estimates that the Big Data market is growing nearly 40 percent annually and is roughly $3.2 billion now and will grow to $16.9 billion by 2015. Big Data analytics products are proving to be a compelling alternative to tradtional Business Intelligence. In fact, Big Data and Business Intelligence markets appear to be on a collision course. Traditional BI is stumbling in trying to address Big Data. It is often viewed as being too slow and too cumbersome to configure.
Ravi Mhatre, managing director of Lightspeed Venture Partners, told Business Insider, ”we’re talking an industry today that’s probably $20 billion to $30 billion that I think, overnight, is going to be replaced by a completely new set of platforms”.
Doug Henschen of InformationWeek says that new Big Data-based analytic products are challenging traditional BI. He reports that Big Data vendors view traditional BI products which use “batch-oriented extract-transform-load (ETL) data integration, relational data warehousing, and old-school analytics as too slow, rigid, and expensive to keep up in the big-data era.”
This change in the Business Intelligence and Analytics market is on Gartner’s radar too. In their recent Magic Quadrant paper (complimentary copy available from Attevo). Gartner sees the BI market as ‘bifurcating’ into two groups: the traditional Enterprise BI tools and a newer set of products which includes Big Data analytics that Gartner is calling ‘Data Discovery platforms’. The Gartner report says that “The chasm between these segments continues to deepen because business users find the benefits of using data discovery tools so compelling that they make this choice despite the risk of creating fragmented silos of data, definitions and tools.”