From marketing and sales to product and operations, every team would like a hand in business intelligence.
Being able to gather and visualize business data can reveal pain points, but also growth opportunities. Business intelligence ensures crucial decisions made within the company are validated by data. With the right business intelligence strategy, this can be game-changing for a company.
But don’t just take our word for it, check out our compilation of 30 business intelligence statistics for data-driven companies.
General business intelligence statistics
The global business intelligence market is expected to grow from $15.64 billion in 2016 to $29.48 billion by 2022, with a CAGR of 11.1% (Reuters, 2017).
Executive management, operations, and sales teams are the main drivers of business intelligence in organizations (Forbes, 2018).
Sales, marketing, and executive teams have the highest interests in advanced dashboards and visualizations (Forbes, 2018).
Almost half of executive management teams see cloud business intelligence as “critical” and “very important” for supporting their information needs (Dresner Advisory, 2017).
74% of Tech Chief Financial Officers (CFOs) say cloud computing will have the most measurable impact on their business (BDO Technology, 2017).
70.1% of organizations say cloud is an essential part of their analytics strategy, with 21.6% saying it’s necessary for analytics adoption (Deloitte, EMA, and Informatica joint study, 2016).
Self-service BI statistics
64% of business leaders say self-service business intelligence creates significant competitive advantage (Forbes Insights & Qlik, 2016).
Respondents in the same survey say self-service tools are creating the most value in finance (67%), sales (61%), marketing (60%), and compliance (60%) (Forbes Insights & Qlik, 2016).
Half the respondents believe self-service data analysis can bring about valuable insights (Forbes Insights & Qlik, 2016).
63% of the respondents said distributed analytics enables users within organizations to develop more visually interesting analysis (Forbes Insights & Qlik, 2016).
The biggest challenges with self-service business intelligence are combining data from different sources (20%) and ensuring data security (14%) (Forbes Insights & Qlik, 2016).
71% of business leaders say self-service options tend to accelerate learning and responsiveness in their organizations (Forbes Insights & Qlik, 2016).
Business intelligence trends
Data quality/management, data discovery/visualization, and self-service business intelligence are the top three most important trends in 2019 (BI Survey, 2019).
IoT data analytics is seen as the least important trend, for now, when it comes to business intelligence (BI Survey, 2019).
Real-time analytics and mobile business intelligence are seeing downward trends from previous years (BI Survey, 2019).
Integration platforms for business intelligence and project management tools saw the sharpest downward trend from 5.8 to 5.0 (BI Survey, 2019).
With such a focus on GDPR, data governance has become a top priority for companies using business intelligence (BI Survey, 2019).
Establishing a data-driven culture is the fifth most important business intelligence trend in 2019, shedding light on the importance of getting buy-in from stakeholders (BI Survey, 2019).
Want to see business intelligence done right?
The stats and trends don’t lie. Business intelligence may be evolving as big data becomes more prominent and new technologies emerge, but it’s still just as vital to a company’s success as it was a few years ago.
Devin is a growth marketer at Nextiva and a former content specialist at G2. Prior to G2, he helped scale early-stage startups out of Chicago's booming tech scene. Outside of work, he enjoys watching his beloved Cubs, playing baseball, and gaming. (he/him/his)