Business Analytics:  A 2014 HorizonWatching Trend Report
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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 ...

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

A MORE DETAILED REPORT IS AVAILABLE: This is a Summary PDF Version of this Trend Report. A more detailed Powerpoint version of this deck is located at http://www.billchamberlin.com/reports-books/. The 31 page report has more information and resources for you, including a list of over 65 trend and prediction articles for 2014.

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Business Analytics: A 2014 HorizonWatching Trend Report Presentation Transcript

  • 1. Contact: Bill Chamberlin, HorizonWatching Community Leader January 2014 Business Analytics: Trends To Watch In 2014 A HorizonWatching Community Trend Report (Summary Version)
  • 2. HorizonWatching Community About This Deliverable  Purpose: The slides provide information about the Business Analytics a trend in 2014  This is a Summary Version of this Trend Report.  This file can be downloaded at http://www.slideshare.net/horizonwatching  A more detailed Powerpoint version of this deck is located at http://www.billchamberlin.com/reports-books/. The 31 page report has more information and resources for you, including a list of over 65 trend and prediction articles for 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. 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  For more information on Emerging Technology Trends, see the HorizonWatching blog Note: This presentation represents my own personal thoughts and ideas….not those of my employer. - Bill Chamberlin, http://www.billchamberlin.com/ 2 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 3. HorizonWatching Community Table of Contents 1. Trends to Watch in 2014 2. What Others Are Saying About Business Analytics for 2014 3. Additional Resources 3 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 4. HorizonWatching Community Table of Contents 1. Trends to Watch in 2014 2. What Others Are Saying About Business Analytics for 2014 3. Additional Resources 4 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 5. HorizonWatching Community Analytics Trends to Watch in 2014 1. LOB Demands Self-Service Tools: LOB execs Gartner Press Release: Business Intelligence and Analytics Predictions and teams demand access to simple to use analytic tools that provide visualization rich output. 2. Mobile Analytic Tools: The demand for mobileenabled 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. Access more 2014 Business Analytics and Analytics trend articles, blog posts and related information via the Horizonwatching Blog 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 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 6. HorizonWatching Community Analytics Trends to Watch in 2014 (cont.) 6. Data Visualization: The market for visualization IBM Study:: Analytics: A Blueprint for Value, 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. “Leaders say they make the wrong decisions about 25% of the time.” – IBM (link) 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 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 7. HorizonWatching Community Table of Contents 1. Trends to Watch in 2014 2. What Others Are Saying About Business Analytics for 2014 3. Additional Resources 7 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 8. HorizonWatching Community Analytics capabilities can help business decision makers understand the past and as well as what might happen in the future Source: Descriptive, predictive, prescriptive: Transforming asset and facilities management with analytics - IBM 8 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 9. HorizonWatching Community Spending on business analytics and intelligence solutions and services continues to grow. “The worldwide business analytics software market is expected to grow at a 9.7% compound annual growth rate (CAGR) through 2017.” – IDC (link) Gartner: Information, Analytics and Big Data Trends and Opportunities “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) “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 business analytics technology and services market is expected to experience a CAGR of 10.8% through 2017” – IDC (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) 9 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 10. HorizonWatching Community Business users are driving the requirement for analytic solutions that help them make fact-based decisions “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) “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) InformationWeek: 5 Big Business Intelligence Trends For 2014 HBR Webinar: Analytics 3.0 “Going forward, companies will shift their future investment away from IT-developed reporting solutions toward business-user-led analysis solutions” – 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) 10 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 11. HorizonWatching Community The demand for mobile analytic tools is increasing as business users want access to data and analysis wherever they are. “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 “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) “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) 11 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 12. HorizonWatching Community Successful implementation of analytics capabilities provide value and can help companies create a competitive advantage “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) The Economist: Fostering a datadriven culture "There is growing quantifiable evidence that data-driven decision making enabled by business analytics solutions provides a competitive difference.“ – IDC (link) “44% say "predicting customer behavior" is the biggest factor driving interest in big data analysis” – InformationWeek (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) 12 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 13. HorizonWatching Community One of the biggest challenges today in Analytics is the lack of skilled analytics resources Lavastorm: Analytical Skills, Tools, and Attitudes Survey 2013 "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) “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 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) 13 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 14. HorizonWatching Community Table of Contents 1. Trends to Watch in 2014 2. What Others Are Saying About Business Analytics for 2014 3. Additional Resources 14 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 15. HorizonWatching Community Analytics – Selected IBM Resources and Links 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 Video: Highlights from the IBM Study, Analytics: The Real World Use of Big Data James Kobielus: Debunking Myths about Data Scientists 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 15 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 16. HorizonWatching Community Access additional thought leadership A more detailed version of this deck is located at http://www.billchamberlin.com/reports-books/. The powerpoint deck has 31 slides and many more resources for you, including a list of over 65 trend and prediction articles related to the Business Analytics trend for 2014. Other HorizonWatching Content and Community Sites – – – – – – – Linkedin Profile = www.linkedin.com/in/whchamb/ Wordpress = Horizonwatching – Thought Leadership Blog Tumblr = HorizonWatching – Quote Blog Twitter = HorizonWatching – 140 Character Blog Slideshare = HorizonWatching - Slide Decks Facebook = HorizonWatching – Community Page LinkedIn Group = HorizonWatching – Community Group Note: This presentation represents my thoughts and ideas….not those of my employer. Follow me for more technology trend information on my public blog - HorizonWatching at www.billchamberlin.com. Thanks, Bill Chamberlin 16 Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License
  • 17. HorizonWatching Community Other HorizonWatching Trend Reports are available for download Available for download at: http://www.billchamberlin.com/reports-books/ – Typically 20-30 pages (Powerpoint format). – All will be available by mid-February. For the current status of the availability of the reports, see Availability of HorizonWatching 2014 Trend Reports Contents of the Detailed Trend Reports 1. 2. 3. 4. 17 Trends to Watch (Important developments to watch in 2014) Trend Information (Market Opportunty, Growth Drivers, Adoption Challenges, Implications) Quotes: What Analysts and the Media is saying about the trend Lists of Websites and Resources • Analysts • Media Note: A summary of each of the detailed reports will also • Selected IT vendor and consultant websites and resources available in pdf format via the • Top Trend and Prediction Articles HorizonWatching account on • Social Media Sites & Searches Slideshare at • Selected Online Influencers http://www.slideshare.net/horizon • Selected white papers and other websites watching • List of 2014 Trend and Prediction Articles Jan 2014 Business Analytics: A 2014 HorizonWatching Trend Report (Summary Version) © 2014 HorizonWatching Creative Commons Attribution License