As business intelligence and analytic capabilities increase, Gartner Research predicts that it will grow into an integral part of business, what principal research analyst Dan Sommer calls, “A world of analytics everywhere.”
Gartner studies support the prediction. Conclusions drawn from past research by the firm have predicted analytics will be adopted by 50 percent of potential users by 2014, and 75 percent of potential users by 2020. “Post 2020, we’ll be heading toward 100 percent of potential users and into the realms of the Internet of Everything,” reports Sommer.
According to Microstrategy, business intelligence solutions have already seen widespread growth and adoption, particularly in the areas of real-time data and predictive analytics. Both technologies help businesses make more informed, immediate decisions in a wide range of fields, from marketing and risk management to recruiting and production.
As companies grow more dependent on analytics to help make all kinds of decisions, Gartner is predicting that technology will need to adapt to help businesses understand the data that they are dealing with. An important facet will be “interactive visualization,” tools that allow businesses to see the data they are dealing with easily and customize it to help make specific choices. Gartner expects the user interface segment of the market to grow three times faster than other business intelligence fields and provide opportunities for both new vendors like QlikTech and older players like SAS.
When predicting vendor capabilities in future years, Gartner also touched on another evolving trend: the move from building analytic solutions within experienced companies to buying business intelligence and analytics tools from outside companies. Many industries currently do not have business intelligence technology. Even businesses that adopt data-intense decision-making processes may have certain departments that have little experience in analytics, leading to a lack of capability in a field that is quickly become a necessity.
The solution to this dilemma is buying analytic services from outside vendors instead of trying to build internal tools and gathering data within the companies. This will fuel the growth of larger and larger vendors, but Gartner also believes that the market will remain friendly to startups and smaller companies that will be able to enter new business intelligence fields and offer highly specified, vertical solutions for particular market niches.
The result will be a highly fragmented market with increased potential at all levels. Currently, Big Data and business intelligence are divided into several sectors, including cloud, social, mobile and production data. As solutions increase, these sectors will grow more integrated and high-level skill sets will become necessary to analyze available data.
The mobile sector in particular could see growth: According to a TechNavio forecast in February, the Global Mobile Business Intelligence market will grow at an average annual rate of more than 27 percent through 2016, fueled by efforts from IBM, Microstrategy and other tech companies. Conferences like the recent Business Intelligence Innovation Summit can help pave the way forward by linking such vendors to enterprises eager to expand their solutions.
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