Business intelligence (BI) solutions have the potential to empower businesses in a multitude of ways by allowing professionals to mine extensive stores of information for enhanced insight. However, many firms still aren't fully leveraging these tools due to inadequate resources or expertise. However, by seeking the professional support of database experts and remote dba services, these enterprises can gain greater control over data analysis for a considerable competitive advantage.
Channelnomics reported that the BI market is set to grow 7 percent annually over the next four years, according to Pierre Audoin Consultants (PAC). The research firm has determined that the BI market is in fact developing quicker than before, and is worth more than $42 billion in software and services. The strongest growth is expected to occur in advanced solutions such as predictive analytics. Philip Carnelley, research director at PAC, revealed that one of the biggest trends in BI is mobile technology, which gives users quicker access to reports on any device, from smartphones to tablets.
"Major obstacles can be seen among rapidly evolving technologies, requiring big efforts to keep pace and to acquire and maintain competency," Carnelley asserted, according to Channelnomics. "IT users need to move from one-stop shopping with ERP vendors to best of breed to get state-of-the-art solutions. New technologies may require significant product upgrades or architecture overhaul before they can be deployed."
New tools for changing objectives
As BI technologies evolve and become more complex, enterprises can leverage the assistance of third-party remote monitoring services. Carnelley explained that CIOs should partner with professionals that have expert knowledge and can guide BI projects, especially when adopting new solutions.
Information Management revealed that a related report from Saugatuck Technology also emphasized a shift in BI initiatives. The source explained that according to Saugatuck, firms are looking to harness more on-demand access to data and address challenges to the accessibility and delivery of analytics.
"I've never met any business or IT leader who complains about not having enough data. The complaints have always centered on how to find, access and effectively utilize the data available," said Saugatuck Analyst Bruce Guptill, according to Information Management. "We have practically unlimited data available, now we really need ways to manage it, quality-control it, secure it, cleanse it, etc."
Enterprises that seek support in these BI efforts have the opportunity to mine company data in new and innovative ways for more valuable conclusions.
RDX's business intelligence and big data experts assist customers in leveraging data contained in large data stores. For more information, please visit our Business Intelligence and Predictive Analytics pages or contact us.