According to IDC, worldwide spending on analytics and business intelligence (BI) software grew 7.5% in 2019. Within that increase, spending on public cloud analytics and business intelligence grew 40%—with on-premises spend remaining flat.
Today, almost 70% of enterprises run at least some analytics and BI workloads in the cloud. In the January 2020 IDC Technology Spotlight, The Business Value of Cloud Analytics at Scale, IDC Research Director of Business Analytics Chandana Gopal and Group Vice President of Analytics and Information Management Dan Vesset say several challenges are further accelerating the move to cloud analytics, including:
- The inability of enterprises to scale insights to every employee and machine
- Difficulty in finding a balance between fully distributed and fully centralized BI and analytics governance models
- The exponential growth and complexity of data
As agility and speed of decision making become vital to business survival, IDC predicts “that over the next four to five years, enterprises that effectively invest in future of intelligence capabilities will experience a 100% increase in knowledge worker productivity, resulting in shorter reaction times, increased product innovation, and improved customer satisfaction, in turn leading to sustainable market share leadership (or achievement of their mission) in their industry.”
These future of intelligence capabilities absolutely include analytics in the cloud, a tool that’s helping organizations experience improvements in IT security, business agility, business transformation, and employee productivity. In The Business Value of Cloud Analytics at Scale, IDC analysts Chandana Gopal and Dan Vesset provide these three recommendations for organizations considering cloud-based analytics solutions:
- Look for solutions providing a tight integration between the technology provided by the BI and analytics software provider and the cloud platform provider
- Recognize that value from cloud deployments reaches beyond technical capabilities such as scalability, and also enables more rapid innovation through faster analytics application development and the latest AI/ML functionalities
- Ensure that solutions address the decision support needs of all users and their different preferred modes of accessing underlying BI and analytics functionality
Want more IDC insights and advice on moving your analytics to the cloud? Download a complimentary copy of The Business Value of Cloud Analytics at Scale. Already have your analytics in the cloud? Watch Chandana Gopal and Dan Vesset’s interesting and informative on-demand webcast, Analytics in the Era of AI.