Machine Learning Set to Make Major Impact on BI and Analytics, Report Finds
Roughly two-thirds of mid-size to enterprise organizations are looking to expand their use of machine-learning business intelligence in the next two years, according to UK-based analyst house Computing Research. In a new report entitlted Business Analytics in the Machine Learning Era, the firm polled 110 BI and IT managers based in the UK to get a sense of which barriers to adoption were most prevalent in their organizations surrounding analytics tools. Surprisingly, the greatest barriers were not access-based, but rather lacking technical skills and time constraints.
Many of the respondents believe that AI and machine learning will have the biggest impact on data governance and compliance, namely with the upcoming GDPR legislation. Others (34 percent) see these new technologies helping them serve more customers, and 15 percent think it will help them find success in new markets. Those polled also reported that for all its benefits, self-service BI hurt their overall governance. The report follows up: “[Machine learning] can be utilized to discern patterns within a variety of data sets and react accordingly by suggesting a course of action.”
According to Wayne Eckerson, Founder and Principal Consultant of Eckerson Group, success with BI and data analytics can be directly tied to user adoption. He’s even been quoted as referring to user adoption as the “holy grail” of business intelligence. Modern tools represent a class of software that help organizations move beyond statistical reporting but require specialized technical skill that is sometimes not readily available. However impressive the technology, if it’s too complex for regular businesspeople to use then adoption will suffer and organizations have shown a propensity to revert back to the old ways of doing business.
Organizations are increasingly going to be looking to machine learning technologies to assist them with adoption by bypassing some of the traditional struggles posed by the proliferation of data, as well as the need to analyze it. It’s been estimated that more than half of CIOs will ramp up predictive analytics spending in 2018, and if the results of Computing Research‘s recent study are any indication, machine learning BI and analytics are going to make up a major part of that.
We highly encourage you to read the report in full, available here.