Analytics Platform: Major Current & Future Trends

Goals

To identify the major current and future trends in the analytics platform market to better understand a clientele. Ideally, we will provide:
  • A list of the key current and future trends
  • Backup data for each identified trend.
Analytics platforms include companies such as;
  • Domo
  • Splunk
  • Alteryx among other players in the space.

Early Findings

Data Availability

  • The initial round of research indicates that data availability surrounding the major trends in the analytics platform space is low in the public domain. Hence, we have pivoted the research to look for other helpful information relevant to the project goals. This is reflected in our findings and in the scoping options below.

Business Analytics Platform Trends

  • Based on the survey;
    • Business Intelligence is becoming a mainstream offering with over a third of respondents (39%) saying that they increased their expenditure in data analytics tools and technology, and 41% revealing that they experienced an increase in customer requests for access to data and analytics.
    • Furthermore, companies are looking to achieve continuous intelligence by leveraging embedded analytics to fuel data-driven decision-making.
    • One-third of the respondents revealed that they use embedded analytics platforms. They pointed to their ability to gain a competitive advantage (33%) as the top motivation for embedding analytics, while 23% picked “data-driven decision making” as a key motivator.
    • Developers’ plans to implement machine learning more than doubles, compared to the respondents' from the previous year's survey.
    • 16% of respondents indicated plans to implement machine learning in the near future, a strong increase compared to the 6% of respondents who are currently embedding it.
    • Respondents also indicated plans to embed these advanced technologies: predictive analytics (14%), edge analytics (10%), and natural learning (7%).

Summary

  • We focused the initial research hour on trying to identify trends concerning analytics platforms in the public domain space.
  • Initial research revealed that information regarding this topic is very low in the public domain.
  •  Market and industry reports available in the public domain are further broken down into different analytics subsectors such as big data, business intelligence, data analytics, among other segments.
  • To further support this, an industry report by Gartner categorized Alteryx and Domo as "Challengers" in the business intelligence and analytics platforms space.
  • Domo, Alteryx, and Splunk further corroborate our findings based on the information available on their websites.
  • Alteryx deals with business intelligence with analytics automation.
  • Domo is described as being inclined towards business intelligence analytics and analytics, similar to Splunk.
  • We were unable to find any news report, expert opinion, though research, or industry report with information exclusive to analytics platform.
  • Based on our research, the low availability of information in the public domain about this topic could be related to the generic nature of the market space.
  • Based on the low turnout of data on the above topic, we recommend diverting the focal point of our findings towards existing/available resources/information about data analytics and business intelligence in the public domain.
  • Available data points/recommended research part include: Identifying existing and future trends in the public domain regarding business intelligence and data analytics trends.
  • Details of our recommended research parts are provided below.

Research proposal:

Only the project owner can select the next research path.
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