Australian business intelligence and analytics market to hit $700 million in 2016: Gartner
- 03 February, 2016 15:15
It has also predicted New Zealand revenue will reach $NZ92.3 million this year, an increase of 8.1 per cent from 2015.
Global revenue in the space is forecast to reach $US16.9 billion in 2016, an increase of 5.2 per cent from last year.
The firm said the BI and analytics market is in the final stages of a multi-year shift from IT-led reporting and analysis systems to what Gartner terms the ‘modern BI and analytics platform. As a result, modern platforms have emerged to meet new organisational requirements for accessibility, agility and deeper analytical insight.
Gartner managing vice-president, Ian Bertram, said the shift to the modern BI and analytics platform has reached a tipping point.
"Organisations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources,” he added.
Gartner said as analytics becomes increasingly strategic to most businesses and central to most business roles, every business is now an analytics business, every business process is an analytics process and every person is an analytics user.
"It is no longer possible for chief marketing officers to be experts only in branding and ad placement," Bertram said.
"They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries."