Business Analytics: A 2014 HorizonWatching Trend Report

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ABOUT THIS REPORT: This 2014 HorizonWatching Business Analytics Trend report provides an overview of the Business Analytics trend.  The target audience for this document is HorizonWatching Community …

ABOUT THIS REPORT: This 2014 HorizonWatching Business Analytics Trend report provides an overview of the Business Analytics trend.  The target audience for this document is HorizonWatching Community members who want a resource document that can provide them with summary information, lists of resources, as well as insights into what trends we might see around the Business Analytics topic during 2014.

CONTENT: Summary information about this emerging trend is provided along with many links to additional resources, including a list of trends and prediction articles about this trend.

HOW TO USE THE REPORT: The slides are meant to be read/studied and the links are there for you to continue your learning. You may want to view the slides in slideshow mode so you can easily follow the links

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  • 1. © 2014 IBM Corporation Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Contact: Bill Chamberlin, Principal Emerging Trends Research Analyst / HorizonWatching Community Leader January 27, 2014 Business Analytics A 2014 HorizonWatching Trend Report
  • 2. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. About this Report  Purpose: This HorizonWatching Trend Report provides an overview on the Business Analytics trend for IBM Clients  Content: Summary information about the trend is provided along with many links to additional resources.  How To Use This Report: This report is best read/studied and used as a learning document. There are many links provided in the report that will take you to other websites and resources where you can continue your learning. You may want to view the slides in slideshow mode so you can easily follow the links 2 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014
  • 3. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics capabilities can help business decision makers understand the past and as well as what might happen in the future 3 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 Source: Descriptive, predictive, prescriptive: Transforming asset and facilities management with analytics - IBM
  • 4. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Spending on business analytics and intelligence solutions and services continues to grow. 4 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 “The worldwide business analytics software market is expected to grow at a 9.7% compound annual growth rate (CAGR) through 2017.” – IDC (link) “The business analytics technology and services market is expected to experience a CAGR of 10.8% through 2017” – IDC (link) Gartner: Information, Analytics and Big Data Trends and Opportunities “The business intelligence (BI) software market will surpass $40 billion by 2018 as vendors expand and integrate portfolios to capitalize on customers’ BI software investment plans.” – TBR (link) “The Predictive Analytics Market is estimated to grow from $1.70 billion in 2013 to $5.24 billion in 2018 at a CAGR of 25.2% from 2013 .” – MarketsandMarkets (link) “Worldwide business intelligence (BI) software revenue will reach $13.8 billion in 2013, a 7 percent increase from 2012. The market is forecast to reach $17.1 billion by 2016.” – Gartner (link)
  • 5. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics Trends to Watch in 2014 1. LOB Demands Self-Service Tools: LOB execs and teams demand access to simple to use analytic tools that provide visualization rich output. 2. Mobile Analytic Tools: The demand for mobile- enabled analytic tools that are intuitive and self-service will continue to grow in 2014. Mobile analytic tools will further drive demand for big data, analytics, and visualization capabilities. 3. Customer Insights: CMOs and Sales execs demand insights from all the big data coming from social, mobile, search, web traffic and back-end processes so they can deliver individualized, personalized digital experiences across all channels. 4. Predictive Analytics: Not just for specialists and data scientists, in 2014 expect LOB analysts to increasingly use predictive analytic algorithms and modeling techniques to help them understand potential future trends in the data. 5. Social Media Analytics. Expect Social media analytics to become an integral part of business. All LOB execs will want to be able to analyze social conversations and influencer ecosystem networks in real time. 5 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 Source: HorizonWatching, IBM Market Insights Gartner Press Release: Business Intelligence and Analytics Predictions
  • 6. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics Trends to Watch in 2014 (cont.) 6. Data Visualization: The market for visualization products will continue to grow as decision makers demand dashboards with easy to read graphs. Vendors must design easy to use self-service solutions for end users. 7. Location Intelligence: As enterprise workers and consumers increasingly use mobile apps, expect more organizations want to include location data into their analytics capabilities. 8. Distributed “Edge” Analytics: Expect increased interest in real-time distributed analytics that harvest data coming from edge devices (e.g. mobile smart phones, intelligent routers, sensor and actuators) 9. R Goes Mainstream: This data mining tool comes of age in 2014 as the buzz increases and adoption goes mainstream. Watch out SPSS and SAS and other legacy vendors. 10. Hadoop ecosystem matures. New analytic tools will be required to cope with multiple vendor versions of Hadoop and new real-time capabilities. 11. Analytic Skills: The demand for analytics training will continue to accelerate. Business leaders realize everyone needs to understand how to use analytic and visualization tools. Expect new offerings targeted at MBA and college level to try to help prepare future business leaders. 6 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 IBM Study:: Analytics: A Blueprint for Value, Source: HorizonWatching, IBM Market Insights “Leaders say they make the wrong decisions about 25% of the time.” – IBM (link)
  • 7. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Business users are driving the requirement for analytic solutions that help them make fact-based decisions 7 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 “Investment is coming from exploiting analytics to make B2C processes more efficient and improve customer marketing efforts. Investment will also be aligned to B2B analytics, particularly in the SCM space.” – Gartner (link) “The benefits of fact-based decision-making are clear to business managers in a broad range of disciplines, including: marketing, sales, supply chain management, manufacturing, engineering, risk management, finance and HR” – Gartner (link) “Going forward, companies will shift their future investment away from IT-developed reporting solutions toward business-user-led analysis solutions” – Gartner (link) InformationWeek: 5 Big Business Intelligence Trends For 2014 HBR Webinar: Analytics 3.0“Demand for business analytics solutions will continue to be driven by the promise of better and faster decision-making and competitive advantage that results from the ability to analyze and act upon information in a timely manner.” – IDC (link)
  • 8. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. The demand for mobile analytic tools is increasing as business users want access to data and analysis wherever they are. 8 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 “Those wonky, sophisticated analytics and business intelligence tools may be fine for power users, but most organizations want easy-to-use, easy-to-interpret visual data analyses they can share with executives, salespeople, and other business users -- preferably on a tablet as well as a laptop or PC.” – InformationWeek (link) “The demand for intuitive, self-service, and mobile-enabled BI tools will continue to grow in 2014. It will be imperative for both enterprises and BI vendors to align their strategy accordingly.” – Ovum (link) “There is an increasing realization that extending business intelligence applications to mobile devices can transform entire business processes as well as individuals' work patterns.” – Forrester (link) InformationWeek: 2014 Analytics, BI, and Information Management Survey
  • 9. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Successful implementation of analytics capabilities provide value and can help companies create a competitive advantage 9 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 “Two kinds of companies will ultimately be more successful, prosperous, and profitable: 1) those with richer, more accurate information about their customers and products than their competitors and 2) those that have the same quality of information as their competitors but get it sooner.” – Forrester (link) “44% say "predicting customer behavior" is the biggest factor driving interest in big data analysis” – InformationWeek (link) The Economist: Fostering a data- driven culture "There is growing quantifiable evidence that data-driven decision making enabled by business analytics solutions provides a competitive difference.“ – IDC (link) “Major changes are imminent to the world of BI and analytics including the dominance of data discovery techniques, wider use of real-time streaming event data and the eventual acceleration in BI and analytics spending when big data finally matures.” – Gartner (link)
  • 10. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. One of the biggest challenges today in Analytics is the lack of skilled analytics resources 10 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 "The skills shortage impacting an organization's ability to successfully deploy business analytics solutions is pervasive but not insurmountable. Organizations will continue to struggle to find talent externally and must do more to develop talent internally.” – IDC (link) Lavastorm: Analytical Skills, Tools, and Attitudes Survey 2013 “According to the survey respondents, a lack of skills/training/education is the biggest factor holding back organizations from using analytics more” – Lavastorm Analytics (link) "The lack of a sufficient number of staff with advanced and predictive analytics skills is the greatest business analytics challenge faced by organizations. Furthermore, this lack of skills is hindering success of business analytics initiatives, which in turn impacts the ability of organizations to apply data-driven decision making to achieve desired outcomes.” – IDC (link)
  • 11. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Trend Overview 11 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 Drivers • Growth in Big Data…both structured and unstructured • Business Leaders know the data exists, but need tools to draw insights out of the data • Continued advances in analytics algorithms & modeling • Advances in open source platforms such as Apache Hadoop & Linux Challenges • Analytic tools tend to be too complex, requiring skilled resources. • Embedding analytics into an existing business apps infrastructure • Generating insights out of complex metadata is not easy • Security, performance, scalability • Predictive models need to translate to action, rather than simply being an intellectual exercise Implications • The ability to pull value from data can lead to competitive differentiation • New processes, skills/training, and business leadership is required • Needed: Better dashboard tools, designed for business users and available on mobile devices From To Offline / Back office Embedded / Realtime Detailed Reports Dashboards Historical Predictive Structured Unstructured Behind Firewall Cloud / Mobile Trends in Analytics “Cloud-based analytics is expected to see rapid adoption rates over the next five years.” – IDC (link)
  • 12. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Analyst Websites and Resources 12 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 • Forrester: Business Intelligence Playbook / Analytics (search) • Frost & Sullivan: Analytics (search) • Gartner: Business Intelligence (Portal) / Analytics (search) / Analytics Blog Posts (search) • IDC: Big Data and Analytics (Portal) / Analytics Research / Analytics Blog Posts • International Institute for Analytics - http://iianalytics.com/ Forrester: Intro to Predictive Analytics Reading List Gartner: Big Data and Analytics Strategy Essentials “As the cost of acquiring, storing and managing data continues to fall, companies are finding it practical to apply BI and analytics in a far wider range of situations.” – Gartner (link)
  • 13. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Media Websites and Resources 13 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 • Businessweek: Analytics (search) • CIO.com: Business Intelligence, Analytics (search) • ComputerWorld: Analytics • eWeek: Big Data Analytics Project Center / Analytics (search) • Forbes: Data Driven, Analytics (search) • Harvard Business Review: Analytics • InformationWeek: Big Data Analytics • InfoWorld: Business Intelligence • MIT Sloan Management Review: Analytics & Strategy • NY Times: Analytics eWeek: Big Data Analytics Project Center HBR: Analytics 3.0
  • 14. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected IT Vendor and Consultant Websites and Resources 14 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 • Accenture: Analytics • Booz Allen: Analytics • Deloitte: Analytics • Google: Analytics • HP: Information Management & Analytics • IBM: Business Analytics / The Big Data & Analytics Hub • Infosys: Search for Analytics • Microsoft: Big Data • Oracle: Advanced Analytics • SAP: Analytics • SAS: Analytics • Tata Consultancy Services: Analytics • Wipro: Analytics & Information Management IBM: The Big Data & Analytics Hub
  • 15. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Social Sites and Searches 15 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 • Google Blog Search: Analytics / Business Intelligence • Technorati Blog Search: Blog posts tagged Analytics • Facebook Search: Analytics • Google+ Communities Search: Analytics • LinkedIn Group Search: Analytics / Business Intelligence • Pinterest Search: Analytics / Business Intelligence • Slideshare Search: Analytics / Business Intelligence • Twitter Hashtag Search: #Analytics #BusinessIntelligence • YouTube: Analytics Playlists / Analytics Channels / Business Intelligence Playlists / Business Intelligence Playlists • Wikipedia: Analytics / Business Analytics / Predictive Analytics / Business Intelligence #Analytics – Twitter Hashtag Search
  • 16. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Experts and Online Influencers 16 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 LinkedIn Title & Company Twitter Followers Blog Avinash Kaushik Digital Marketing Evangelist, Google avinash 122904 www.kaushik.net/avinash/ Neil Patel Co-Founder, KISSMetrics neilpatel 109667 www.quicksprout.com/ Bernard Marr CEO, Advanced Performance Institute BernardMarr 70251 theintelligentcompany.blogspot.com/ Tom H.C. Anderson CEO, Anderson Analytics tomhcanderson 44464 www.tomhcanderson.com/ Mike Gualtieri Principal Analyst, Forrester mgualtieri 37437 blogs.forrester.com/mike_gualtieri Theodore Angelus Managing Partner, Pernod|Angelus teddy777 28636 pernodangelus.com/ Jonny Longden Group Director, Analytics at R/GA London jonnylongden 21252 actionable-analytics.com/ Sachin Kamdar CEO at Parsely, Inc SachinKamdar 17368 blog.parsely.com/ Doug Laney VP Research, Bus. Analytics & IM, Gartner Doug_Laney 16451 blogs.gartner.com/doug-laney/ Gregory Piatetsky- Shapiro Founder, KDNuggets Consulting kdnuggets 14936 www.kdnuggets.com/gps.html Adam Singer Analytics Advocate, Google AdamSinger 14177 thefuturebuzz.com/ Jim Sterne Chairman, Digital Analytics Association jimsterne 12674 www.emetrics.org/blog/ Justin Cutroni Analytics Evangelist, Google justincutroni 12005 cutroni.com/blog/ Timo Elliott Innovation Evangelist, SAP timoelliott 10987 timoelliott.com/blog/ Vincent Granville Co-Founder, Data Science Central analyticbridge 10717 www.datasciencecentral.com/profile/VincentGranville David Smith Vice President of Marketing and Community revodavid 8604 blog.revolutionanalytics.com/ Marc Smith Chief Social Scientist, Connected Action Consulting marc_smith 5407 www.connectedaction.net/ Caleb Whitmore Founder & CEO at Analytics Pros analyticspros 4983 www.analyticspros.com/ Jeff Kelly Big Data analyst, Wikibon jeffreyfkelly 4960 wikibon.org/ Dennis Mortensen CEO & Founder, Visual Revenue, Inc. DennisMortensen 4635 x.ai/author/dennismortensen/
  • 17. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected IBM Resources and Links 17 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 Website Resources • The Big Data & Analytics Hub • Smarter Planet: What is Smarter Analytics? • Software: Cognos / Business Analytics / Business Intelligence / IBM Smart Analytics System / Customer Analytics / Predictive Analytics / Social Media Analytics / SPSS • Global Services: Business Analytics & Optimization Services • Midsize Business: Business Analytics • Government: Analytics Solution Center • Research: Business Analytics and Mathematical Sciences • DeveloperWorks: Business Analytics and Business Analytics Communities • IBM Data Magazine IBM on Social Media • Facebook: IBM Big Data & Analytics • Twitter: @IBMAnalytics / @IBMbigdata • Twitter Hashtags #bigdata #analytics • Blog: IBM Smarter Analytics Blog • YouTube: IBM Big Data & Analytics / IBM Business Analytics • Google+: IBM Big Data & Analytics • LinkedIn: IBM Big Data and Analytics Video: Highlights from the IBM Study, Analytics: The Real World Use of Big Data James Kobielus: Debunking Myths about Data Scientists
  • 18. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Other Reports and Resources 18 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 • Evaluating Big Data Predictive Analytics Solutions, by Forrester, Dec 2013 • The Field Guide to Data Science, by Booz Allen Hamilton, Nov 2013 • From Data to Decisions III: Lessons from Early Analytics Programs, by Partnership for Public Service, Nov 2013 • Analytics: A blueprint for value, by IBM, Oct 2013 • Driving an Intranet Evolution through Predictive Analytics, by Bradford Barthel, Oct 2013 • Analytics: A blueprint for value, by IBM, Oct 2013 • Customer Analytics: The Role of Integrated Systems, by IDC, Oct 2013 • Using Predictive Analytics to transform the business (slide deck), by IBM, Sept 2013 • Smarter Analytics: Driving Customer Interactions with the IBM Next Best Action Solution, by IBM, Aug 2013 • Why Business Analytics in the Cloud?, by Tableau, July 2013 • Leverage Marketing Analytics to Improve Customer Experience, by SAS, 2013 • Victory Index Report for Predictive Analytics, by Hurwitz & Associates, 2013 • Big Data University • Operational Intelligence: Real-Time Business Analytics from Big Data, by TDWI Research, 2013 • Video: https://www.youtube.com/watch?v=DJS-WvHmoB0, by Eric Siegel, Ph.D. Founder, Predictive Analytics World
  • 19. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Analytics – Selected Resources from the 2013 Trends Report 19 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014 •International Institute for Analytics - http://iianalytics.com/ •Cloud Analytics Playbook, by Booz Allen Hamilton, published December 2012, 36 pages •Fast track to the future - The 2012 IBM Tech Trends Report, Research Report by The IBM Center for Applied Insights, published December 2012, 12 pages •Analytics and the Cloud — the Future is Here, by Jane Griffin and Forrest Danson of Deloitte Consulting, published November 2012, 2 pages •Business Intelligence and Analytics: From Big Data to Big Impact, a MIS Quarterly Business Intelligence Research Report, published September 2012 •Smarter Analytics: Making Better Decisions Faster, an IBM Redbook, published October 2012, 28 pages •The rise and value of predictive analytics in enterprise decision making, a white paper by CGI Group Inc., published September 2012, 6 pages •Analytics in Higher Education: Benefits, Barriers, Progress, and Recommendations, a research report by Educause Center for Applied Research, published August 2012, 31 pages •Big Data Analytics, a Peer Research report by Intel, published August 2012, 27 pages
  • 20. © 2014 IBM Corporation IBM Market Development & Insights Note: This report is based on internal IBM analysis and is not meant to be a statement of direction by IBM nor is IBM committing to any particular technology or solution. Appendix: About The IBM HorizonWatch Community  HorizonWatch is an IBM internal community in place since January 2001  Our focus is on learning about and sharing our knowledge on emerging trends, business issues, and technologies so we can – Develop better strategies for the future – Help our customers develop better strategies for the future  For more on the internal IBM HorizonWatch Community send an email to Bill Chamberlin, IBM HorizonWatch Community Leader at whchamb@us.ibm.com 20 Business Analytics: A 2014 HorizonWatching Trend Report (Client Ready)27Jan2014