The very first use of what we now mostly call business intelligence was in 1951, at Lyons Electronic Office, powered by over 6,000 vacuum tubes. Itz about “meeting business needs through actionable information”. Linear equation of BI growth, is depicted as the attachment.
The BI and analytic platform market has undergone a fundamental shift. During the past 10 years, BI platform investments have mostly been in IT-led consolidation and standardization projects for large-scale system-of-record reporting.
As demand from business users for pervasive access to data discovery capabilities grows, IT wants to deliver on this requirement without sacrificing governance — in a managed or governed data discovery mode.
Business analytic of tomorrow is focused on the future (Predictive) and tries to answer (Prescriptive) the questions: What will happen? How can we make it happen?
Predictive analytic encompasses a variety of techniques from statistics, data mining, and game theory that analyze current and historical facts to make predictions about future events.
- BI has passed a tipping point as it shifts away from IT-centric, reporting-based platforms
- Early entrants to the data discovery market may have strong capabilities in interactive visual data discovery
- Higher differentiation score by using the emerging capabilities — such as search, embedded analytics, collaboration, self-service data preparation and big data.
Few predictions to define BI Analytic Road Map:
- By 2018, data discovery and data management evolution will drive most organizations to augment centralized analytic architectures with decentralized approaches.
- By 2018, smart, governed, Hadoop-based, search-based and visual-based data discovery will converge into a single set of next-generation components.
- By 2020, 80% of all enterprise reporting will be based on modern business intelligence and analytics platforms; remaining 20% will still be on IT-centric, reporting-based platforms because the risk to change outweighs value.
As per Gartner report, BI market has shifted to more user-driven, agile development of visual, interactive dashboards with data from a broader range of sources. With my rich experience on building the financial enterprise data hub, I can sense the breath & depth of "broader range of sources"