Analytics & Business Intelligence

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2019 Vendor and Product Assessment:

Executive Summary

ABI_ScatterVentana Research provides unique insight into the analytics and business intelligence (BI) industry. This is important, as its processes and technology play an instrumental role in enabling an organization’s business units and IT to utilize its data in both tactical and strategic ways to perform optimally. To accomplish this, organizations must provide technology that can access the data, generate and apply insights from analytics, communicate the results and support collaboration as needed.

Analytics and BI utilize mathematics to create measurements and metrics that enable data to be visualized in whatever form, in whatever tool or application is needed to provide insights and guide decision-making. In today’s data-driven world, organizations must use BI to understand and plan the details of their operations. BI can be used across every department in an organization, across the lines of business and IT, and can guide employees at all levels to understand and act on data. Organizations also use BI to track costs, create staffing plans, assess employee and supplier performance, identify variances and plan corrective actions. BI also helps inform employees and facilitate communication throughout the organization to coordinate actions toward a common mission and specific objectives. Operating without BI would be like flying a plane without an instrument panel.

While BI as a modern business tool dates back some three decades, the elements of business intelligence today have expanded well beyond query, reporting, analysis and publishing. The tools have expanded to include the sourcing and integration of data and the use of analytics for planning and forecasting. They also include dashboards that present analytics in a variety of visualizations. BI today also enables presentation of analytics in the form of natural-language narratives. And the collaborative sharing of insights is helping to reduce the time to take action and make decisions. Recently, artificial intelligence and machine learning have begun to extend BI, enabling it to classify, predict and suggest behaviors that will help improve business operations.

 
 

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