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Research Outline
Prepared for Craig T. | Delivered February 27, 2020
Business Intelligence Trends
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Goals
Gain an understanding of trends in the global business intelligence market., including perception of the value of business intelligence, and any challenges holding back growth in the BI space, as well as trends
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to investment in BI.
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Early Findings
The business intelligence market is growing rapidly, with a projected
CAGR of 12%
between 2019 and 2024.
One survey
of business intelligence practitioners showed that the top three trending topics in business intelligence for 2020 are data quality/master data management (DQM), data discovery and visualization and data-driven culture.
Data Quality Management (DQM)
is a key challenge being faced in the business intelligence space, with quality being measured by completeness, validity, uniqueness of data points, accuracy, and consistency.
The use of business intelligence for
sales and marketing teams
has also increased recently, with BI helping companies improve the accuracy of sales targets and sales forecasts.
Data protection needs
have also increased in the BI space, especially since GDPR went into effect in 2018, with companies needing to handle data in legally compliant manners.
Integrating advanced analytics for
big data within BI systems
has also been a trend, with the need for dashboard visualization of complex data increasing.
Data integration is a key business intelligence challenge- with
50% of ERP
projects in North America failing due to lack of data integration, and only
16% of IoT decision
making companies able to integrate their data successfully.
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