Australian BI market to grow 9.1% this year

The Australian business intelligence (BI) and analytics market is on track to grow 9.1% in 2016 to $700.1 million, with Australian CIOs ranking BI and analytics as among their key technology priorities for the year.

So says a new report from Gartner, which found that the shift towards the modern business intelligence and analytics platform has reached a tipping point.

The research firm said the market is in the final stages of a multiyear shift from IT-led, system-of-record reporting to business-led, self-service initiatives.

This is resulting in the democratisation of analytics, where increasingly every business is an analytics business, every business process is an analytics process and every person is an analytics user, according to Gartner Managing VP Ian Bertram.

“It is no longer possible for chief marketing officers (CMOs) to be experts only in branding and ad placement,” he said. “They must also be customer analytics experts. The same is true for the chief HR, supply chain and financial roles in most industries.”

Other defining characteristics of the modern business intelligence and analytics platform include analysis based on free-form exploration rather than a predefined model and insight delivery via sharing and collaboration instead of mere scheduled reports.

“To get the full benefit of modern BI and analytics platforms, leaders must rethink most aspects of their current IT-centric, centralised analytics deployments, including technology, roles and responsibilities, organisational models, governance processes and leadership,” Bertram said.

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