Last year, “big data” was all the rage, impacting the BI and performance management industry significantly. But who knows where technological developments and user needs are headed? That’s why Jedox AG surveyed over 40,000 customers, partners, and BI experts as to where BI is going. The results are now in: This year, “big data” is still the “next big thing”!
Big Data Analytics is riding high as the top trend in business intelligence. According to over 18% of those surveyed, the “revolution of mass data” will continue to set the pace in the BI market. Coming in at 17%, right behind Big Data, is Self-Service BI, closely followed by Mobile BI with just under 17% of votes. The high scores of these three categories clearly show that users expect state-of-the-art BI solutions to provide ease-of-use, autonomy, and extreme flexibility – anywhere, anytime, anyplace. Some 13% of those surveyed also feel that Planning and Forecasting and Information Design (10%) will be decisive growth areas for BI and performance management:
Trend No. 1: Big Data Analytics scored 18% of votes, indicating that fast and targeted processing of extremely large amounts of data will remain a key task for business intelligence solutions. Analysis and visualization of mushrooming and diverse data requires cutting edge, high-performance methods to leverage the full potential of these massive amounts of information.
Trend No. 2: Coming in close second place, your choice of Self Service BI reveals that people want to work fast, flexibly—and unleashed from corporate IT. As such, business intelligence providers will continue to address these requirements with user-friendly tools, enabling users to access relevant data they can autonomously and intuitively process, distribute, and customize.
Trend No. 3. Almost just as many people voted for Mobile BI as their top trend. This confirms that business intelligence cannot and should not be limited to stationary desktop use. Optimizing time management and able to leverage key resources, mobile BI solutions let on-the-go users access the latest corporate data via smartphones or tablet PCs. Data is processed in a flash and then clearly displayed on end-user devices.
Trend No. 4. How to optimize corporate financial planning and budgeting processes? Planning and Forecasting is the fourth biggest trend, according to 13% of those surveyed. Analyzing as-is scenarios, generating reports, and then bringing them in line with target oriented planning processes that are audit-proof—that’s the solution. This is how to improve the performance of a corporation in the long run. Increasing market volatility will require BI solutions able to quickly number-crunch increasingly complex planning scenarios.
Trend No. 5. In fifth place, we have Information Design—technology providing user-friendly processes to “translate” corporate data into “business speak” and thus making it applicable. Intelligent display of management information for presentations or dashboards must remain front and center for BI technology providers. Corporations need BI solutions with ever-increasing flexibility so that, for instance, controllers can autonomously display data that is easy to understand for a general audience.