Published on the 04/02/2016 | Written by Newsdesk
Especially solid growth for analytics in ANZ in otherwise tepid IT market…
While IT spending as a whole is stalling there are bright spots and one of those is the business intelligence and analytics (BI&A) market. Gartner said this is forecast to reach US$16.9 billion in 2016, representing a healthy level of growth of 5.2 percent over the previous year.
It gets better for Australasia, where double-digit growth is very nearly on the cards: in Australia, the market is forecast to reach A$700.1 million, up 9.1 percent, while in New Zealand, revenue will reach NZ$92.3 million, an increase of 8.1 percent. Those numbers shouldn’t come as a surprise: CIOs in Australia and New Zealand ranked business intelligence and analytics as their top technology priority for 2016 in a recent Gartner survey.
The researcher said the BI&A 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, it explained, BI&A platforms have 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, Gartner managing VP. “Organisations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources.”
Bertram added that Australian and New Zealand organisations are shifting focus from big data towards advanced analytics.
Moreover, 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 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, he said organisations want to democratise analytics capabilities via self-service.
“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,” Bertram concluded.
