A roundup of Business Intelligence predictions for 2016
Happy New Year from everyone here at Matillion. As the New Year gets under way, there is a great deal of excitement growing within the analytics community around what the year ahead has to offer. A number of organisations and thought-leaders in the industry are beginning to outline their business intelligence predictions for the coming year.
In this article, we take a look at a number of these predictions and analyse some of the biggest talking points for the year ahead.
‘The pervasiveness of business intelligence’
In Channel Pro’s business intelligence predictions for 2016, Peter Baxter argues that the pervasiveness of BI is set to continue throughout the New Year and beyond.
According to Gartner, business intelligence and analytics were still the number one investment priority for CIOs in 2015. Despite significant changes in the market as a whole, this demand and enthusiasm for greater analytics capabilities will continue to grow steadily.
Baxter states that the growing demand for enhanced reporting and analytics capabilities spans all industries. This growth across the board, he argues, will encourage existing IT vendors in the UK to expand their product offerings into this market.
Not only that, but we will also begin to see a further rise in the number of vendors offering BI and analytics solutions targeted at specific industry verticals.
‘Whose BI will you buy?’
Prakash Nanduri, CEO at Paxata, lays out his six business intelligence predictions for 2016 in an interesting article on Forbes.com
Amongst these predictions, he comments on the changes expected in the type of business intelligence tools that companies will choose to invest in during the coming year. Of particular interest is the fact that investments in traditional BI are coming to a ‘screeching halt’, with a decline of more than 20% in net new licenses, according to Gartner.
In place of traditional BI tools, organisations are instead choosing to increase spending on new technologies such as self-service BI and data discovery platforms. These newer platforms have witnessed a huge surge in popularity over recent years and the majority of business intelligence predictions suggest that this growth will continue throughout the year ahead.
Related reading: Choosing the right business intelligence system
‘The data product chain becomes democratised’
With the increasing popularity of self-service business intelligence tools, it’s no surprise that users are demanding this level of empowerment in other stages of the data product chain.
According to Tableau’s ‘Top 10 trends for 2016’, there will be a growing demand for the democratisation of applications that allows end users to shape certain data ‘on the fly’. According to these business intelligence predictions, the success of self-service analytics tools will lead to a natural extension into self-service data preparation and even self-service data warehousing solutions.
‘Visual analytics becomes a common language’
Data visualisation has been a major component in the overall effort to make business intelligence more mainstream and widely accessible. And in IT Pro Portal’s BI predictions for 2016, it is argued that visual analytics has become a ‘common language’, bringing people together throughout the business.
Visual analytics are a great way of uncovering insights, exploring trends and communicating data across organisations. With the ever-increasing volumes of data being handled by businesses, visual analytics will foster faster and more effective collaboration between employees. By empowering users across all lines of business, data visualisation can help to create a feeling of community-orientated analytics, giving everyone the opportunity to gain greater insight.
Related reading: Data visualisation crucial to your BI success
‘A screen in the hand is now worth two on the desk’
James Richardson is a business analytics strategist at Qlik and a former analyst at leading industry research organisation, Gartner.
In his 2016 business intelligence predictions, Richardson talks about that the fact that mobility will become increasingly important for end users of these tools.
A recent study conducted by Qlik revealed that 85% of respondents completed BI and analytics objectives using multiple devices simultaneously, and this highlights the importance of being able to access BI platforms on a range of devices.
He goes as far as to say that ‘a screen in the hand is now worth two on the desk’ because of the advantages of mobile BI, providing users with the ability to access insights anywhere, at any time. Business Intelligence solutions that fail to support this ‘device-to-device’ functionality are at risk of causing dissatisfaction, according to Richardson.
Related Reading: Cloud mobile BI: the power of BI, where it’s needed
In 2016, is it time that you started evaluating better Business Intelligence for your organisation? Download our free guide to find out more about the solutions available.