While business intelligence and analytics tactics have become securely entrenched as parts of the enterprise world over the past few years, that doesn’t mean they are stagnant. On the contrary, new developments have helped them evolve. The goals that can be accomplished through data use are diverse and growing more so all the time. In a similar vein, the number and complexity of resources that can become fuel for these plans are on the rise. Tracking these changes and understanding the current state of the market may be critical for users today, and this knowledge could be the factor that helps them outmaneuver their rivals.
One way to predict where BI is going and become adept with its latest permutations is to consider it in the context of the other leading developments going on in IT. In 2013 that was cloud computing, and 2014 seems to promise a continuation of the theme. In its predictions for the new year, Enterprise Apps Today singled out the cloud as a difference-making technology, and not necessarily as a replacement for the more traditional model of analytics.
The source specified that cloud BI presents an agility advantage: It is ideal for quickly getting new ideas underway and in production in a hurry. According to Enterprise Apps Today, hosted architecture could be the place to go when organizations want to launch targeted programs. When departments call for intelligence they can use, these limited operations will be there to provide the answers. Meanwhile, the main BI programs can continue to deliver the same results they traditionally have.
There could soon be a whole new BI paradigm, in which many affordable analysis processes are created at once, rather than devoting the whole budget to one effort. Enterprise Apps Today explained that this is another natural role for the cloud, with good projects surviving and poor options falling by the wayside, all without the effort or funding that would be necessary to accomplish the same on-site.
The continued use of BI in many different sectors, as well as industry watchers’ confidence that such operations will continue in the coming months, were reflected in a recent MarketsandMarkets survey. The source indicated that the technology will grow at a rate of 8.3 percent through 2018. As the market for BI is already worth $13.9 billion, that means it will reach $20.8 billion. The worlds’ companies are deeply interested in comprehending their information and plan to do so in the years ahead.