Izenda Tech Blog logoIf you are following the business intelligence space, it seems that there are new surveys every week confirming the growing use of BI in a competitive landscape.

Whether the research comes from academia, research analysts, consultants, large enterprise solutions providers or smaller BI vendors, it all points in the same direction: We live in a fast-paced, data-driven world. Those organizations who don’t keep up will be left behind.

A global report from the consulting company Capgemini is one of the latest in a massive deluge of studies, which reflect this acceleration of data growth and the business world’s attempts to keep pace with it. Their survey found that 64 percent of enterprises in North and South America, Europe and Asia-Pacific believe that big data is changing traditional business boundaries. It also found:

  • 58% expect to face increased competition from start-ups enabled by data
  • 24% of companies report disruption from new competitors moving into their industry

Reached ‘Inflection Point’

“We have reached an inflection point in the market. Information is at the heart of every business decision and companies need to fully embrace the opportunities of Big Data or risk losing out in the marketplace,” John Brahim, head of Capgemini insights and data global practice, stated.

Brahim said research is showing some organizations are using data to reduce costs and improve performance while others are using it to drive into new markets and ultimately monetize their data in its own right. Read Capgemini’s full report here.

The challenge for organizations, regardless of size, is determining which data provides the most valuable insights. Your organization may not have petabytes of data to analyze each day, but your data still holds value. Another challenge many organizations face is figuring out how to structure themselves to deal with the disruption a data-driven business model creates. From companies moving toward self-service BI solutions to large enterprises with a team of data scientists, organizations are still wrestling with how to leverage the insights unlocked from a growing pool of data.

Creating a Data-Driven Company

“Organizations are being told they need to invest in all this cool, innovative technology, such as predictive, content, and real-time analytics; however, they still need to deliver the traditional management reports and dashboards that run the company,” Kurt Schlegel, research vice president at Gartner, said. He will be chairing Gartner’s upcoming “Crossing the Analytical Divide” conference, which will focus on how to create a more data-driven company, but in a way that doesn’t abandon the old ways.

The theme of the conference “is very much from the perspective of the analytics leader who needs to deliver on an innovative vision, while keeping the day-to-day analytic operations up and running. It’s not an easy task,” Schlegel said.

Some small- to medium-sized organizations may still be in the early stages of settling on a BI solution. They have undoubtedly heard about the growing demand for self-service BI as users want to explore and analyze data and create reports, dashboards and visualizations wherever they are meeting and working.

Is your work application ready for a data-driven world? Is your organization ready to leverage the value of business intelligence?

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