BI Solutions and Cloud Can Sift Through Big Data
By Stefanie Hoffman
It’s no secret that organizations have big problems with Big Data. So it should come as little surprise that technologies such as business intelligence (BI) and analytics are on a set course for growth.
An April Gartner report indicated worldwide the BI, analytics and performance management (PM) software market reached a $12.2 billion mark in 2011, representing a 16.4 percent increase from 2010’s revenue of $10.5 billion.
That makes the BI, analytics and PM software market the second-fastest growing sector in the global enterprise software market, according to Gartner.
BI is undeniably gaining traction in enterprises, but like many emerging technology markets still finding their place, it had a few stumbling blocks out the gate. A July Forbes article pointed out that organization have historically shied away from BI and analytics, citing the solutions as cumbersome, difficult to implement and expensive to operate and manage. But that’s on course to change – and one of the biggest drivers will be the cloud.
“In 2011, the market is still dominated by traditional on-premises solutions linked to PCs,” said Dan Sommer, principal analyst at Gartner, in a statement. “However, key forces like cloud, mobile, social and Big Data will play a key role in increased adoption over the next 10 years, and help shift the center of gravity away from BI and analytics being only an enterprise IT push adopted by key stake-holders in lines of business, to one with a strong focus on the individual context, inside and outside the firewall. In 10 years’ time, everyone will be touched by analytics in a much denser and more frequent way than today.”
That assertion was bolstered by a report from Saugatuck Technology, a Westport, Conn.-based research and consulting firm, which projected cloud-based BI and analytics will experience an 84 percent CAGR over the next two years.
The cloud is putting the accelerator on BI adoption because cloud-based BI goes far in alleviating prior challenges and deterrents once associated with on-premise solutions, while providing a range of benefits that include rapid deployment, scalability and reduced costs while eliminating the need for expensive infrastructure projects and staff.
There is also an ease-of-use factor of cloud-base BI solutions, which opens up business intelligence to users other than on-staff data scientists and expert analysts. With cloud, business intelligence services can easily be handed over to cloud providers and partners with business intelligence securely in their portfolios.
A recent Forbes article showed there are distinct advantages to cloud-based BI applications. They enable rapid propagation of updates and cost effectively support one-time analyses, experimentation, trial deployments and initiatives that could be prohibitively challenging and expensive with other solutions.
By all reports, BI, regardless of form factor, is having its heyday as users seek to get their Big Data under control. Organizations are spending on BI because it promises clarity and insight into their business, elicit monetary value for previously unorganized data and increased overall ROI.
Delivering the solution via the cloud just makes that daunting task a little bit easier.
For more information on the state of business intelligence, we encourage you to visit the IBM Cognos TechTalk Intelligence Center.