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Business Intelligence: Slow Growth But 2014 may be Tipping Point
The Business Intelligence and analytics software market grew 8 percent from $13.3 billion in 2012 to $14.4 billion in 2013, according to Gartner Research. While 8 percent seems like health growth, many had expected the market, especially because of the hype in the complementary market of Big Data, to grow significantly more.
‘Slow growth’ in the BI market was attributed to:
- Overall slow global economic growth. While we’re seeing a recovery from the economic gloom of 2008, even developing countries are experiencing only modest growth.
- IT budgets have remained stagnant over the past few years.
- Most traditional BI vendor products still don’t have Big Data capabilities, and that’s where all the hype has been, and there is uncertainty about adopting unproven Big Data Analytics technologies from smaller players.
Dan Sommer, research director at Gartner, noted that “even though big data hype reached a fever pitch [in 2013], this did little to move the dial for analytics… Overall, just like last year, the market is shifting gears, which is keeping growth in the single digits. At the same time, paradoxically, we’re at the cusp of a series of tipping points which will facilitate unprecedented interest and adoption of analytics… These tipping points are that half of BI and analytics spend will be business driven, half of new licence spend will be driven by data discovery requirements, and half of organizations will consider deploying BI in the cloud, at least tactically.”
