Next generation business intelligence software, areas for growth & opportunities for innovation

Abstract

In today's world, as the volume of business and consumer data continues to grow at an unprecedented pace, there is increasing desire to utilize that data in new and innovative and ways to provide insight and improve decision making. For businesses, data is being generated from transactions, machine logs, digital media and feeds from sensors and wireless devices at a volume and velocity not seen before. When combined with data from external sources such as partners, or from the Internet from blogs, social networking sites, YouTube, Facebook and Twitter, it has the capability to provide organizations with new insight, a more holistic picture of customer and stakeholder behavior and new ways of gaining competitive advantage. Consumers are being presented with applications of increasing analytical sophistication, leading to growing comfort in making fact-based decisions. New devices will help monitor energy usage within the home and provide insight on the optimal times to schedule devices and run household appliances. As data volumes continue to grow, systems will need to automate the uncovering of patterns and trends in data if they are to scale. Business Intelligence (BI) software, which has traditionally been used to gain insight from data, will need to evolve and new capabilities developed to support these significant changes. Areas of growth and opportunities for new innovation within the BI software industry will be explored that will enable stakeholders to take full advantage of this new and exciting opportunity.