Thursday, 04 February 2016 00:19

Australia’s BI, Analytics market value heading to A$700 million: Gartner Featured

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Australia’s BI, Analytics market value heading to A$700 million: Gartner Image courtesy of Stuart Miles, freedigitalphotos.net/images

Australia’s Business Intelligence and Analytics market is set to reach A$700.1 million this year, up 9.11% from 2015, with CIOs ranking BI and Analytics as their top technology priority for 2016.

The forecast from Gartner also predicts BI and Analytics in New Zealand in 2016 will hit NZ$92.3 million, an increase of 8.1% from 2015.  Like their counterparts in Australia, New Zealand CIOs also rank BI and Analytics as their top priority this year.

The forecasts for Australia and New Zealand are part of as global study by Gartner which forecasts that worldwide BI and analytics revenues this year will reach US$16.9 billion, an increase of 5.2% from 2015

According to Gartner, the global 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 and, as a result, the modern business intelligence and analytics (BI&A) platform has emerged to meet new organisational 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. "Organisations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources."

Gartner also says 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."

To meet the time-to-insight demanded by today's competitive business environment, Gartner says many organisations want to democratise analytics capabilities via self-service.

And, the firm says the most significant difference between a modern BI and analytics platform and a traditional, IT-centric reporting and analysis platform is the amount of upfront modeling required, as well as the skills needed, to build analytics content.

Says Gartner: “Creating analytics content via IT-centric reporting platforms starts with IT consolidating and modeling data in advance. By contrast, a modern BI&A platform supports IT-enabled development of analytics content.”

According to Bertram, to get the full benefit of modern BI and analytics platforms, “leaders must rethink most aspects of their current IT-centric, centralised analytics deployments, including technology, roles and responsibilities, organisational models, governance processes and leadership."

 

Table 1: High-Level Comparison of Traditional and Modern BI and Analytics Platforms

Analytics Workflow Component

IT-Centric Reporting and Analysis Platform

Modern BI and Analytics Platform

 

Data Source

Upfront dimensional modeling required (IT-built star schemas)

Upfront modeling not required (flat files/flat tables)

Data Ingestion and Preparation

 

IT-produced

 

IT-enabled

 

Content Authoring

Primarily IT staff, but also some power users

 

Business users

 

 

Analysis

Structured ad hoc reporting and analysis based on a predefined model

 

 

Free-form exploration

 

 

Insight Delivery

 

Distribution and notifications via scheduled reports or a portal

Delivery via sharing and collaboration, storytelling, and open APIs

Source: Gartner (December 2015)

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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