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Future of the Business Intelligence Software Market

The year 2015 saw major changes that reverberated through the global business intelligence software market. While many of the driving principles behind business intelligence remain the same, there are a host of promising trends that make this an exciting time to be involved in the way organizations leverage data analysis. If you haven’t been keeping up with the BI market, read on for a quick recap and our predictions for 2016.

What Made 2015 Different?

This was an empowering year for organizations that wanted to take charge of the way they interacted with data. According to some Information Week analysts, the trend towards cloud and mobile-enabled exploitation of big data marked a stark shift from the previous decade or so, when the BI software market was largely dominated by a limited range of products and analytics methods.[1]

Companies increased their use of distributed computing and software as a service, or SaaS, but they also let the cloud handle more of their data and stopped worrying about as many incidental details. Information Week’s surveys revealed that cloud-based data warehousing usage jumped a full ten percentage points, use of alternative database technologies like Hadoop and NoSQL increased by seven points, and fewer companies admitted to being quite as concerned with data quality.

While business data analysis hasn’t become some kind of Wild West free for all, it’s clear that more CEOs and decision makers branched out from the limitations of old techniques. This may be partly due to the proliferation of easily-adaptable technologies that bridge the gaps inherent in classic BI. Self-service methodologies are just as reliable as any proprietary analysis service an organization might pay someone else to perform, and they have clear advantages when it comes to fine tuning and customization.

How do these changes impact the humble business intelligence analyst? Well, companies may not be leaving their fate to as many third-party BI providers, but that doesn’t mean they’re doing everything alone. A quick glance at employment boards and federal job statistics shows that business intelligence careers are still highly valued. Of course, the kinds of work these professionals perform and their roles within companies are undoubtedly evolving to reflect self-service trends.

How Will 2016 Transform the Business Intelligence Market?

Industry observers believe that companies will continue to innovate and change the landscape during the coming year. Data and visual analytics are predicted to spread beyond the bounds of business intelligence, and as easy access to data analysis practices permeates everyday life, employers may come to value critical analytics skills in non-BI personnel.

Self-service BI and governance are also predicted to come to terms with each other.[2] Although organizations will be increasingly prone to implementing their own governance standards, they’ll still have to create reliable frameworks that give their analyses accuracy and improve their decision-making knowledge. While it’s unclear whether open standards will become the norm, it’s almost certain that organizations will be more concerned with perfecting their their data-management practices.

With increasing standardization of big data usage, the business intelligence software market will definitely have to grow to match. One ex-Gartner analyst notes that products that facilitate analysis via mobile devices and multiple devices simultaneously have proven extremely popular.[3] In short, the future looks bright for SaaS.

People’s expectations are increasing, so software needs to let decision makers, companies and consumers explore vital information more conveniently. To learn more about how BI software providers are answering the demand with customizable products that automate compliance, accelerate timelines and help companies build consensus, read a free industry report here, or download a template to see how you can fine tune your BI software.

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