Latest forecasts from Gartner showed that global revenue in the business intelligence and analytics market would reach $16.9 billion in 2016. That marks an increase of 5.2 percent from 2015.
According to Gartner, the BI and analytics market is in the final stages of a multiyear shift from IT-led, system-of-record reporting to business-led, self-service analytics.
As a result, the modern business intelligence and analytics platform has emerged to meet new organizational requirements for accessibility, agility and deeper analytical insight.
“The shift to the modern BI and analytics platform has now reached a tipping point,” said Ian Bertram, managing vice president at Gartner. “Organizations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources.”
Gartner said that as analytics has become increasingly strategic to most businesses and central to most business roles, every business is an analytics business, every business process is an analytics process and every person is an analytics user.
“It is no longer possible for chief marketing officers (CMOs) to be experts only in branding and ad placement,” said Bertram. “They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries.”