Story image

Uncovering growth opportunities in the transforming business analytics market

15 Aug 2016

This week I presented a webinar to help high tech providers understand the latest market trends, which segments are growing the fastest, and how to respond to take advantage of the opportunities. If you missed the webinar, you can watch on demand! Unfortunately, we didn’t get to answer all of the questions, so below are a few follow ups along with some interesting poll results.

BI and Analytics Market Opportunity Map

Much of the content from this week’s webinar presentation was based on ground-breaking research published earlier this year titled “Market Opportunity Map for BI and Analytics”. This research was designed to help enterprise analytics software and service providers understand which market segments offer the highest growth potential.  We analysed the profitability and growth rates for over 11 different analytics segments including analytic applications, data discovery, advanced analytics, and enterprise-reporting.  We then created a graphic bubble chart to make it easier to visually compare and contrast the different segments.  The results and analysis are quite informative (and surprising) and have already helped several analytics vendors adjust their strategies to focus on the right segments. I HIGHLY recommend you read both the note and watch the replay of the webinar to understand the market opportunities and how to respond.

Biggest Obstacles Analytics Vendors Face

At the beginning of the webinar, we polled attendees to find out what was the biggest business obstacle within their organisation. The majority of you said you have changes either differentiating your messaging or positioning (33%) or identifying the key decision-makers and budget holders (29%).  These poll results are fairly consistent with what we see in inquiry calls with high tech providers.  Many of the analytics vendors use very similar messaging and positioning making it difficult for end-users to sift through the different offerings and select the right solution.

Vendors need to take a bi-modal approach to how you build your product portfolio as well as how you go-to-market. We often talk about mode 1 and mode 2 for IT as a whole, and for BI and analytics.  Analytics providers need to understand that over 50% of the analytics budgets and decision-making is now with line of business (LOB) rather than IT.  LOB is looking for agile, flexible solutions that quick to deploy and easy for business users to use.  And, IT is looking for solutions that offer governance, reliability and control.  Historically, you could only do mode 1 – the slow, systematic, tightly governed reporting that is traditional BI.  Mode 2 is more agile and iterative.  You need both, but increasingly, as modern BI and analytic vendors improve their publishing and governance capabilities, we are seeing customers look for modern BI and analytic products that can do both mode 1 and mode 2.  This means you (as a vendor) need to make sure that not is your product bi-modal but that you have different messaging and value props for the business buyer along with different messaging and for IT.  

Vendors Adding More Advanced Analytics Capabilities

Our CIO survey results highlight that BI and Analytics is the top technology priority and has been for the past 9 out of 11 years. Analytics is at the core of every digital business strategy.  Organisations are looking for BI and Analytics that don’t simply offer descriptive analytics (e.g. reports/dashboards on historical data) but more predictive and prescriptive analytics to help business users make better, faster decisions.  In fact, Gartner predicts:  “By 2020, 80% of enterprise application vendors will compete on the sophistication of advanced analytics offered in their solutions.”

The poll results show that many of the webinar attendees (33%) are already responding to this need by adding more advanced analytics capabilities to their solutions. Whether you offer a BI platform or analytic application, adding more advanced analytics (predictive & prescriptive) needs to be part of your product strategy.

Article by Jim Hare, Gartner blog network

Zoom’s new Rooms and Meetings features
Zoom has released information about the upcoming releases for its Rooms and Meeting offerings for 2019.
Aussie company set to democratise direct-to-orbit IoT access
Adelaide-based Myriota has released a developer toolkit that has been trialled and tested by a smart waste management platform.
Apple's AirPods now come with 'Hey Siri' functionality
The new AirPods come with a standard case or a Wireless Charging Case that holds additional charges for more than 24 hours of listening time.
Dynatrace takes pole position in APM Magic Quadrant
It placed highest on Ability to Execute and furthest on Completeness of Vision in the 2019 Quadrant for Application Performance Monitoring (APM).
HCL and Xerox expand strategic partnership
Under the terms of the agreement, HCL will manage portions of Xerox’s shared services, including global administrative and support functions.
Avaya expands integration with Google Cloud AI
This includes embedding Google’s machine learning within conversation services for the contact centre, enabling integration of AI capabilities.
Forrester names Crowdstrike leader in incident response
The report provides an in-depth evaluation of the top 15 IR service providers across 11 criteria.
Poly appoints new A/NZ managing director, Andy Hurt
“We’re excited to be bringing together two established pioneers in audio and video technology to be moving forward and one business – Poly."