7 Business Intelligence Software Market Trends for 2Q 2018

With remarkable advancements, business intelligence software solutions continue to gain momentum in the marketplace. Choices are many. Features are myriad. Prices vary. Selection … challenging?

BI Trends blog

So, consider the following three business intelligence trends identified by Gartner, along with four other items of market currency to help you make sound buying decisions when it comes to BI software.

  1. Augmented Analytics driven by AI becoming fashionable and functional: Gartner’s February 2018 Magic Quadrant on Analytics and BI Platforms cites the newest disruption in the market is augmented analytics (AA) driven by artificial intelligence (AI). By siccing machine learning on ever greater amounts of aggregated data, companies are mining ever selective actionable insights.
  2. Augmented Analytics-backed BI will yield stronger return on investment: As BI software evolves toward all-out machine-driven data diving, augmented analytics will place a cost premium on solutions that can deliver it. Pundits predict that the analytics delivered and their corresponding insights will be worth the cost. Or said another way, the ROI will be more valuable than the added expense.
  3. “Alexa” will make her entrance into ever more platforms: Because of augmented analytics’ emergence, it’s no surprise Gartner predicts 90% of business intelligence platforms will feature natural-language generation and artificial intelligence by 2020. Likewise, Gartner predicts “50% of analytical queries will be generated via search, natural-language processing or voice, or will be automatically generated.”

A brave new world, indeed?

If trends begin with news, then consider yourself ahead of the curve with these four BI blurbs:

  1. March Networks updates SearchLight tool to version 4.6: March Networks, purveyor of IP video solutions, released version 4.6 of its Searchlight tool, enhancing the platform’s dashboards and reporting capacities, and adding automatic email notification along with images and multiple image export to emails. It seems like a marketing automation/business intelligence hybrid idea that could prove handy?
  2. Marketing Automator HubSpot invests in dashboard platform, Grow: Hubspot threw some financial heft behind Grow during a Series B funding round. With $26 million in the kitty, Grow secures its development as a reporting and analytics dashboard solution targeted to small-and-medium-sized businesses. An emerging startup whose visualization app represents sharpened actionable data? Now, where I have read about that trend?
  3. Business intelligence software market doubling over next 5 years: Allied Market Research Inc.’s recent survey of the global, cloud-based business analytics market forecasts the market’s value doubling by 2023, from $28.8 million to $57.1 million, a 10.2% compounded annual growth rate. With that kind of expansion, we’re going to need to double our reviews here at Better Buys.
  4. Upland Software integrates analytics with its Professional Services Automation solution: Not wasting any time on staking a grub in that $57.1 million lode, Upland Software recently launched its Upland Analytics tool, an integration with its Tenrox, professional services automation solution. Let the race for ramping up real-time reporting and data visualization begin.

Each week Better Buys will report on trends in business software solutions. Check back when you can, leave a comment, or advise us of trends you’ve noticed lately.

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Comments

  1. Ian Hatfield says:

    Thanks for sharing these trends around the BI software industry. I did not know that HubSpot is investing the dashboard platform Grow. I wonder if HubSpot will begin to integrate some of Grow’s reporting and analytic tools into their own reporting section. I am interested to see how GDPR will affect the IT world on 5/25/18.

  2. Keith Craig says:

    Hi, Ian –
    Glad you found something of interest in the blog post. More are planned. As earlier trends prove, “invest-to-adopt” usually occurs. Marketing automation software seems to be seeing the light on using analytics – almost as much as CRM. Got to believe HubSpot is hunkering down with Grow’s dev team to integrate the reporting and analytics tools into the HubSpot product. Time will tell, but when it happens, we can point to you and say we heard it first from Ian Hatfield.

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