A recent survey conducted by Gartner, Inc. revealed that 30% of companies have invested in big data. Of these companies that have made an investment in big data only about ¼ have made big data into production. The global leader in IT advising and research also recently announced its predictions for the future of business intelligence and analytics. Gartner says that CIOs will keep BI and analytics as a top priority until at least 2017. According to Gartner, the benefits of using big data analytics for decision-making purposes will be recognized in several industries including: engineering, finance, HR, marketing, sales, and risk management. Gartner also predicts that by 2017, big data analytics will permeate through all facets of society.
Roy Schulte, vice president of Gartner, explains that in the future the cost of gathering, managing, and storing data will decrease. Companies are more likely to use business intelligence practices because of the decrease in data costs. “As the cost of acquiring, storing and managing data continues to fall, companies are finding it practical to apply BI and analytics in a far wider range of situations,” Schulte says. BI and analytics can offer enterprise leaders with more accurate information helping CIOs and other managers to make better decisions.
Over the next four years, Gartner anticipates that companies will be using BI on a more frequent basis. “Major changes are imminent to the world of BI and analytics including the dominance of data discovery techniques, wider use of real-time streaming event data and the eventual acceleration in BI and analytics spending when big data finally matures,” Schulte says.
Gartner lists 4 major predictions for BI and analytics:
1. By the end of 2015, most BI vendors will place emphasis on analyzing data discovery rather than reporting data; this will shift the focus of BI from reporting-centric to analysis-centric.
2. By 2016, big data analytics will become mainstream because of the availability of more detailed intellectual property.
3. By 2017, more than ½ of analytics applications will utilize event data streams.
4. By 2017, the analytic apps provided by software vendors will be comparable to analytic apps offered by service providers.
To read the Gartner press release about BI and analytics predictions click here: https://www.gartner.com/newsroom/id/2637615