As 2013 draws to its end, it has become clear to any in the field of business intelligence and analytics that the industry has reached something of a watershed moment. To be fair, some of the initial flurry of attention that surrounded big data and BI a few years ago has worn down, and this has prompted the tools' skeptics to claim that they might be less of a factor in the future. However, the truth is that BI is at a point where it could go anywhere, or be applied in many new ways throughout countless different industries. What's interesting to note is that BI and analytics can evolve without changing any of their core utility or functionality.
Two recent reports have been released showing that analytics will be particularly important to certain groups within the business world, as well as to specific industries that are predicted to see noteworthy gains as a result of adopting BI and analytics software on a major scale. It will be wise for those in such sectors to review this information and consider how they can use analytics platforms to their advantage in the near future.
Gartner: CIOs laser-focused on analytics
Research firm Gartner recently announced the dates for its upcoming Business Intelligence Summits – Feb. 24 and 25 in Sydney, Mar. 10 and 11 in London and between Mar. 31 and Apr. 2 in Las Vegas. In so doing, it revealed a number of insights about how certain businesspeople will use big data and analytics. Specifically, the firm predicted that CIOs in multiple industries are going to put a heavy emphasis on these tools in the next few years.
According to the source, sales, supply chain management, marketing, risk management, finance, HR and a number of other processes important to CIOs can be improved through the better use of analytics. Additionally, there will be a notable sea change in how analytics is applied, in that analysis will be viewed as more valuable than reporting.
Transportation industry expected to benefit
Based on the results of the latest Research and Markets report, the transportation sector is poised to benefit significantly from the increasingly complex ways in which analytics is used. In countries ranging from the United States to Germany and Japan, the ways in which BI and analytics allow for better real-time decision-making are immensely valuable.
In the next few years, the global market for transportation analytics is expected to increase between 2013 and 2018 at a compound annual growth rate of 15.4 percent. By 2018, this will equate to a market value of $57.46 billion.