Business intelligence (BI) and analytics software are still priorities for IT during 2012, a new study reported. According to Ovum, there is increasing use of BI technology and software. But many organizations may find advantages of BI to be “elusive,” Ovum (News - Alert) added.
Madan Sheina, who wrote a report on the topic for Ovum, said that, “Quantitative growth in the BI software market has also been accompanied by rapid change, particularly in the way BI systems are built, and what is built. Similarly, the expectations of BI customers, has changed, as they demand bigger, faster and cheaper systems. Traditional BI technologies, architectures and processes are now struggling to keep pace. Many fail to address two fundamental business needs: agility and adaptability, which enable organizations to react quickly in today’s constantly changing business and regulatory environment.”
This means BI technology is moving toward “quicker and more nimble [business] analytics,” Ovum said. Examples cited by Ovum are: appliances, columnar databases, data mashups, event stream processing, in-memory engines, and software-as-a-service platforms.
“[Businesses] are also looking at new types and sources, such as social media, streaming and mobile data, to deliver broader and deeper business insights,” Sheina added. “Big Data is challenging BI systems to scale cost-effectively, which will require a rethink of traditional data warehousing and BI architectures. This expanding scale will also put the spotlight on critical data-management issues such as data quality and data governance.”
Ovum recommended that businesses “anticipate and react and adapt to business opportunities and threats in their market” – and all of it needs to be done quickly.
“Knowing what might happen, as opposed to analyzing what has happened, is a potent competitive weapon for business and affords even greater operational agility,” Sheina said. Vendors should use data analysis (with an eye towards historic data); predictive technology; and specific business processes, Ovum added.
In a related matter, TMCnet reported that BI options now meet the needs for smaller and mid-size organizations, especially with hosting, cloud-based and open source alternatives.
According to new analysis reported by TMCnet, the move toward these options is seen in small- and medium-sized businesses (SMBs) – not just the larger enterprises.
“Storage is less expensive, processing times are quicker, and licensing and support is no longer a stumbling block to adoption due to the increase in subscription-based models,” said Lyndsay Wise of Wise Analytics. “Add this to hosted offerings and solutions that are developed targeting small and medium-sized businesses (SMBs), and organizations now have something to work with.”
In addition, TMCnet reported that Yardi Orion for SharePoint is being offered as a new platform for Yardi Voyager clients. Yardi Orion integrates Yardi Voyager with Microsoft (News - Alert) SharePoint and uses Yardi Voyager’s operational, financial and ancillary info to provide Yardi clients with business intelligence and visibility into their businesses, TMCnet said.