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Hot Technologies: Business Intelligence: Getting Real Time
From reactive to predictive analytics, BI is evolving beyond traditional querying and reporting
Friday, July 20, 2007
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The business intelligence or BI market globally is in transit. Driving this movement toward real time BI is the emergence of operational BI, which is the next frontier in this area. The next evolution in BI is operational decision-making, which has the potentiality to make BI pervasive and real time.

Today, companies are placing BI into operational applications, and it has metamorphosed from a mere strategic analytical tool to frontline tool in business operations. Gradually percolating down the line, BI is slated to eventually pervade the entire value chain of enterprises, and their partners.

Journey of Evolution
While the first phase of traditional data warehousing efforts focused on querying and reporting to understand what happened, the second wave focused on technologies like online analytical processing (OLAP), and data mining for historical analysis to understand why, and recommend what should be done to rectify. Strategic planning, and the third generation solutions are focusing on the frontline workers, providing them with increased business insight within the context of business processes.

Key Technology Trends

  • Hosted or SaaS BI

  • In-memory analytics

  • SOA-enabled BI

  • Text mining, metadata repositories, and integrated search

  • Real time performance management

  • Business activity monitoring

  • Open source BI
BI Growth Statistics

  • According to IDC, the market for BI software is already worth more than $7 bn worldwide, and is expected to double by 2007

  • Forrester Research states that more than 44% companies worldwide will adopt BI software by next year

  • According to Meta Group, the enterprise data warehouse/business intelligence market continues to evolve rapidly. The research firm estimates that the current market opportunity is $4 bn, and is expected to grow to an estimated $10 bn by 2008

  • In a survey of CIOs, Merrill Lynch showed that BI software topped the list of tech spenders in 2006

  •  Gartner Dataquest forecasts that spending for BI software market is expected to grow at a compound annual rate of 8.5% between now and 2007

  • According to Business Objects, the BI market is only 15% penetrated

  • According to Frost & Sullivan, the Indian BI market is expected to touch $68.8 mn by 2007

Till 2-3 years back, much of the focus was on querying and reporting and on what happened and what actions are needed. A lot of values derived from traditional DW and BI are still revolving in the area of what happened. However, as the businesses have got matured over a period of time, and enough data is still being gathered, much of the focus is now on using the data for doing predictive analysis for proactive decision-making.

The worldwide BI market continues to grow rapidly (see box). But according to IDC and Business Objects, the market is still under penetrated, and has a huge potential. One of the drivers is the increase in the number of IT applications, which necessitates having an environment where information should be consolidated for a unified view, and having a highly competitive environment where information based decisions are crucial.

Shipra Malhotra
shipram@cybermedia.co.in

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