NEW YORK, Jan. 11 /PRNewswire/ -- A new survey of business intelligence (BI) practitioners worldwide reveals that a majority expects the use of BI at their organizations to continue growing at a steady pace in the new year. Survey respondents said, however, that they remain unsure about the value of analyzing data obtained from social media sites such as Twitter or Facebook.
The survey was conducted globally by Kognitio(®), a leading global provider of BI and data warehousing solutions, and Baseline Consulting, the premier specialty provider of business solutions through data expertise. More than 125 people filled out the questionnaire. It was released at the start of the National Retail Federation's annual conference, being held here in New York. Kognitio is an exhibitor (booth #1376).
Almost two-thirds (63%) of the people who responded to the survey said they are "undecided" about the value of data collected from social media sites to help them understand more about their organization or customers. Another 23% called social media "overrated," saying "there are not as many customer conversations going on as the media would have us believe." Only 14% said they want to incorporate data from Twitter and other sites as part of their ongoing data analysis efforts.
But 29% said they are under pressure to justify the money they have spent on BI projects, and are looking for "quick wins or new opportunities." In a separate question, 36% said the speed to delivery of BI projects will be an imperative in 2010, saying they will need to test, evaluate, and deploy new systems within a matter of weeks. That is a marked change from previous years, where BI projects were routinely expected to take months to implement correctly, and where obtaining usable information could take a year or more.
The survey also found that two of every three respondents believe that business intelligence delivered on an as-needed basis, such as Kognitio's Data Warehousing as a Service (DaaS(TM)), will continue growing in 2010; those respondents were almost evenly split on the rate of growth, with slightly more saying DaaS-like services would continue growing at a slower pace, with the other half believing it would grow more rapidly, as "more companies realize and seek to benefit from its business and economic value." Less than 10% said outsourced BI was doomed to fail.
"The survey gives us a clear road map as to where business intelligence is headed in the new year," said John K. Thompson, Chief Executive Officer of Kognitio's North American operations. "In this economy, companies want to be able to quantify their efforts and see tangible results from everything they do. That clearly extends to the use of BI, which has been a 'money pit' for too many firms for far too long. Rapid proof projects and implementations are increasingly demanded; services such as DaaS can help produce the results they need."
The survey also found that:
- Almost half of respondents (49%) said BI is becoming more appreciated as a strategic tool at their organizations, with the business side increasingly embracing its value; 43%, however, believe that BI will not grow as an enterprise-wide initiative, with "pockets" still existing across their organizations;
- BI practitioners expect to see the deeper use of the technology at their firms in 2010, and plan to add capabilities to additional lines of business, with almost one-third (31%) saying they plan to add new BI tools;
- 55% believe that business intelligence is used by their firms for both strategic and operational purposes, a clear move toward "pervasive BI;" and
- The adoption of in-memory databases, which enable faster analysis of immense amounts of data, is predicted to grow slowly by 61% of respondents, who said their price/value point will continue to fall;
"The survey responses confirm the BI paradox of steady-state resources and increased expectations," said Jill Dyche, Baseline Consulting's co-founder and Partner. "These days companies have to do more with less, but the game-changer is that as business executives and end-users become more BI-savvy, their demands for information increase. This invites new conversations around formalizing BI programs and introducing centers of excellence." Dyche cites the survey in her feature article in The Data Warehousing Institute's January Flashpoint newsletter.
Kognitio is an innovative, technology-rich company, providing leading-edge solutions to business problems that require the acquisition, rationalization and analysis of large or complex data. Kognitio's award-winning WX2, a recipient of the 2009 BeyeNETWORK "Vision Award," and SearchDataManagement.com's 2008 "Product of the Year," is the industry's fastest and most scalable analytical database on the market, giving firms the ability to turn their raw data into valuable business insight fast, and empowering its customers to realize comprehensive answers to critical business questions.
Globally headquartered in Bracknell, UK, with North American headquarters in Chicago and offices in New York, Kognitio delivers competitive advantage to its clients across a wide range of industries, including telecommunications, financial services and utilities. More information is available by phone at 312.268.5725 and at www.kognitio.com.
About Baseline Consulting
Led by industry thought leaders Jill Dyche and Evan Levy, Baseline Consulting helps companies enhance the value of their enterprise data, improve business performance, and achieve self-sufficiency in managing data as a corporate asset. Baseline provides business consulting and technical implementation services in four practice areas: Data Warehousing, Data Integration, Business Analytics, and Data Governance. Founded in 1991 and headquartered in Los Angeles, California, Baseline changes how companies leverage information. To learn more, visit Baseline's website at www.baseline-consulting.com.