Gartner Says Worldwide Business Intelligence and Analytics Market to Reach $16.9 Billion in 2016
Global revenue in the business intelligence (BI) and analytics market is forecast to reach $16.9 billion in 2016, an increase of 5.2 per cent from 2015, according to the latest forecast from Gartner, Inc.
According to Gartner, the BI and analytics market is in the final stages of a multiyear shift from IT-led, system-of-record reporting to business-led, self-service analytics. As a result, the modern business intelligence and analytics (BI&A) platform has emerged to meet new organisational requirements for accessibility, agility and deeper analytical insight.
"The shift to the modern BI and analytics platform has now reached a tipping point," said Ian Bertram, managing vice president at Gartner. "Organisations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources."
The democratisation of analytics
Gartner says that as analytics has become increasingly strategic to most businesses and central to most business roles, every business is an analytics business, every business process is an analytics process and every person is an analytics user.
"It is no longer possible for chief marketing officers (CMOs) to be experts only in branding and ad placement," said Mr Bertram. "They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries."
To meet the time-to-insight demanded by today's competitive business environment, many organisations want to democratise analytics capabilities via self-service.
Defining the modern BI and analytics platform
The most significant difference between a modern BI and analytics platform and a traditional, IT-centric reporting and analysis platform is the amount of upfront modelling required, as well as the skills needed, to build analytics content. Creating analytics content via IT-centric reporting platforms starts with IT consolidating and modelling data in advance. By contrast, a modern BI&A platform supports IT-enabled development of analytics content.
"To get the full benefit of modern BI and analytics platforms, leaders must rethink most aspects of their current IT-centric, centralised analytics deployments, including technology, roles and responsibilities, organisational models, governance processes and leadership," said Mr Bertram.
More detailed analysis is available for Gartner clients in the reports "How to Modernize Your Business Intelligence and Analytics Platform for Agility, Without Chaos" and "Forecast Analysis: Enterprise Application Software, Worldwide, 4Q15 Update".
Gartner analysts will provide additional analysis and information on the outlook for BI and analytics at the Gartner Business Intelligence, Analytics & Information Management Summits in Sydney, Australia, Sao Paulo, Brazil and Mumbai, India and at the Gartner Business Intelligence & Analytics Summits in London, UK. and Grapevine, Texas. You can follow news and updates from the events on Twitter using #GartnerBI.
The business intelligence and analytics market includes analytic applications, BI platforms, CPM suites, advanced analytics and performance management software.