For every dollar spent on Business Intelligence, there is $10.66 in ROI.
Nucleus Research examined several case studies to determine the ROI for business intelligence. They found that for every dollar spent on BI, $10.66 is returned. The results are quite convincing for CFOs reluctant to invest the time and resources in new technologies. Harvesting big data pays big dividends.
51% of Business Intelligence adoption leaders are characterized as those who instill confidence in their teams compared to only 33% of laggards.
A.T. Kearney and Carnegie Mellon University recently surveyed 430 companies around the world, representing a wide range of geographies and industries, for the inaugural Leadership Excellence in Analytic Practices (LEAP) study. They found that enterprises getting the most out of analytics and BI are led by managers that concentrate more on collaboration, instilling confidence in their teams and empowering their active analytics community, while laggards focus on technology alone.
The Business Intelligence market and spending on Big Data tools is projected to grow to $114 billion by 2018
Don’t be left behind. Demand for BI software will only increase. A.T. Kearney forecasts global spending on Big Data hardware, software and services will grow at a compound annual growth rate of 30% through 2018, reaching a total market size of $114B. Still, many companies are still learning how to best leverage big data. BI is only getting bigger.
The advanced and predictive analytics software market is will hit $3.4B in 2018.
The advanced and predictive analytics software market is projected to grow to $3.4B in 2018, attaining a 9.9% compound annual growth rate from 2013. IDC notes that simplified tools provide more intuitive graphical user interfaces and easier-to-use features are fueling business analysts’ adoption.
While this massive wave of data promises to transform both top and bottom lines, few organizations have been able to realize the benefits of this promise for their enterprise. Successfully managing big data and analytics is not about having the right technology, framework, or people. Rather, it’s tying these three vital aspects together to create a culture that delivers insight and growth.