Revenue in the business forecasting market will grow this year, a market analyst firm is forecasting. Ugh, this sentence hurt my brain.
Anyway, Gartner predicts that the revenue in the business intelligence and analytics market will grow 5.2 per cent this year, reaching $16.9 billion (£11.6bn). It will be able to offer more, as it transitions from IT-led to business-led, self-service analytics: "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."
Analytics have become key to any business, and a strategic asset, which is why "every business is an analytics business, every business process is an analytics process and every person is an analytics user.”
Mr. Bertram believes CMOs can no longer be tasked with only branding and ad placement. Nowadays, they must also be customer analytics experts. “The same is true for the chief HR, supply chain and financial roles in most industries."
The biggest difference between traditional, IT-oriented business intelligence and analysis platform, and the modern one, is the amount of modelling required. The required skillset has also changed.
"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 can be found on this link.