The only way is up for business intelligence (BI) and analytics, it seems, with a new forecast from Gartner predicting that the market will be worth $16.9bn (€15.5bn) by the end of 2016.
The Gartner report looking at what place analytics has in future business has shown a considerable increase on last year by as much as 5.2pc.
According to the report, however, the platforms which businesses use are currently at a turning point, whereby the older method of IT-led, self-service analytics is diminishing in favour of ones that are much more accessible, agile and offer deeper analytical insight.
The report goes on to stress that having someone in a company whose sole job is to monitor the analytics of a company is redundant, and that almost everyone in a company has to take on the role of an analytics user.
“It is no longer possible for chief marketing officers (CMOs) to be experts only in branding and ad placement,” said Gartner’s VP Ian Bertram. “They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries.”
Citing two particular examples where this appears to be happening, the Gartner report said that an annual survey among chief information officers (CIOs) has shown Australia and New Zealand to be the most focused on developing their analytics technology.
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