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Business Analytics: Formerly Led by IT, BI today is Driven by Self-Service Business
The global business intelligence and analytics market is on track to reach nearly $17 billion this year, up about 5 percent from 2015, according to Gartner research. Gartner said that business analytics historically had been led by IT but newer software is instead targeting business users with the ability to perform self-service analytics.
A separate study by Technavio estimates the global business intelligence market to grow at an annual rate of about 10 percent from 2016 to 2020.
Ian Bertram, Vice President at Gartner, said that “the shift to the modern BI and analytics platform has now reached a tipping point. Organizations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources… It is no longer possible for chief marketing officers (CMOs) to be experts only in branding and ad placement. They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries… To get the full benefit of modern BI and analytics platforms, leaders must rethink most aspects of their current IT-centric, centralized analytics deployments, including technology, roles and responsibilities, organizational models, governance processes and leadership.”
