Data Discovery and Self-Service Data Preparation tools show highest growth rates
Mumbai- June 8, 2016: Gartner says the top priority for India CIOs in 2016 is BI and Analytics. So we’re not surprised to see large crowds here at the Gartner Business Intelligence, Analytics & Information Management Summit. In fact, we bumped into many CIOs, particularly from the BFSI industry. And all the players in Gartner’s Magic Quadrant for BI/Analytics were proudly showcasing their solutions (look out for our interview with a quadrant leader). The impression we’re getting is that everyone wants to democratize analytics — make it simple for everyone in the organization to use. The idea is to harness data, wherever it is, for quick decisions and business outcomes. And the guys who can do this well are in the Leadership Quadrant.
Well, we heard Gartner analysts talking about the latest trends in the Indian BI/Analytics market — as well as globally. And we’d like to pass that to you.
“The next big thing in the BI market today is Data Discovery. The Enterprise Reporting-based platform is getting disrupted by modern BI platforms which comprise of Data Discovery, Self-Service Data Preparation, and Smart Data Discovery. Within the Modern BI Platforms segment itself, Data Discovery is getting disrupted by Smart Data Discovery,” said Bhavish Sood, Research Director, Gartner India.
That means the vendors on the Enterprise Reporting-based platform will have to enhance their offerings with ‘Smart’ and ‘Self-service’ features to stay in the game.
In a press note released yesterday, forecasting India BI software revenues, Gartner projects the highest revenue will come from Modern BI Platforms — $136.8 million by the end of 2016. In 2015 BI Platforms generated revenue of $115.6 million. So that’s a growth of 18.33% year-on-year. These figures are in constant currency terms. A separate break-up of figures within the BI Platforms segment was not available. The other high-growth segment is Analytical Applications and Performance Management.
While BI Platforms see the fastest growth rates, for now, profitability from these tools is still small compared to traditional offerings like Enterprise reporting-based platforms, CPM suites, and Advanced Analytics (see figure below).
TRENDS
Another trend that was spoken about here at the Gartner Summits was that the buying cycle is moving from IT to the business. And this has led to new roles such as the Chief Digital Officer, Chief Analytics Officer, and the Digital Marketing Officer.
“The SaaS and Analytics as a Service model has propagated that trend. Even advanced analytics is now available on a subscription model, so business heads do not have to wait for infrastructure, and can help themselves from the cloud. This has significantly reduced the time to deploy analytics solutions,” said Sood.
Sood informed us that BI/analytics tools are now being designed with business users in mind. With over simplified interfaces, iPad apps, visualization tools, drag and drop — a short learning curve makes it easy for everyone in the organization to use data analytics; you don’t really need to be a qualified data scientist to use these tools.
Deepak Ghodke, Country Manager-India, Tableau said, “Well there are data scientists and there is another set of people who we call ‘Data Enthusiasts’. All of us are data enthusiasts — we are always looking for information and analysing it — to get the best deal on flights, hotels, online shopping etc. Even professionals like doctors need to make important decisions, and they must have the right (analytics) tools for that. ”
Ghodke informed us that the secret behind the rapid growth of Tableau was that they made it easy for both data scientists and data enthusiasts to access information and analyze it in great depth. Read more about this here.
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