The good news for the business intelligence market is that spending on the technology is expected to be way up this year and next, according to the Forrester Research Forrsights Software Spending survey. However, more maturity is needed for companies to get the most out of their business intelligence platforms.
According to Forrester’s report, 49 percent of respondents said they plan to spend more on BI adoption and expansion during the next 24 months. But Forrester warns that more spending doesn’t necessarily equal successful implementations.
“Business intelligence software has emerged as a hot topic in the past few years; in 2011, most companies will again focus their software investment plans on BI,” Boris Evelson wrote for the Forrester blog.
The firm urges companies to work on improving their BI to keep maturity levels increasing. According to another report, Forrester found that BI maturity levels have improved 6 percent since 2009 for a score of 2.75 on a scale of 5.
A recent TechNavio report also predicted increased adoption for business intelligence this year. According to the research firm, the BI software market will expand behind heavy adoption of SaaS business intelligence solutions.