Five Key Insights on the State of the BI market, Which We Took from the Leading Global Research Firm

Just last week, the leading global research and advisory firm Forrester published their famous Forrester Wave reports for Enterprise BI platforms. We are very proud to announce that Panorama made it into the Wave thanks to its key differentiators in the market. This report is filled with interesting insights about the way the BI market is behaving and evolving. We would like to share with you the main points we learned from it.

  1. Application Development professionals are helping the BI market grow. As enterprises understand that data is a key competitive advantage, application development professionals that are working on BI projects are trusting enterprise BI vendors to advise on strategies to go from data to insights.
  2.  BI makes businesses insights-driven. The report explains that while data is still important, raw data is not enough. To gain a competitive advantage, enterprises should turn their data into insights, and BI helps them do that.
  3. Forrester segmented vendors differently for this report. They used to treat enterprise BI and self-service BI as different categories. In the past, enterprise BI platforms would require IT to develop content and were not strong on self-service. The later generation of BI was focused on self-service yet lacking in governance and scalability. Nowadays, enterprise BI vendors offer self-service capabilities; and self-service BI vendors can scale across large enterprises. This means that the vendor landscape evolved. Forrester adapted its evaluation accordingly, considering them all enterprise BI, and segmenting per the majority of their deployment: on-premise or cloud.
  4. Forrester no longer considers key BI platform features as differentiators. Those key features, such as data visualization, reporting, querying, scalability and self-service, are inherent to any Enterprise BI platform today. For example, data visualization is no longer a separate market than BI, it is rather a capability of BI. So, vendors need to innovate beyond these features to gain differentiation in the market.
  5. Examples of the features that Forrester considers actual differentiators are the following: actionable and suggestive BI, advanced analytics, data governance features, and advanced geospatial analytics.

What does the report say about Panorama?

The leading analyst firm touched on some of Panorama’s main differentiators. One of them is Panorama’s machine-learning recommendation engine, which suggests to users which dashboards are more relevant to them based on what they should know. The suggestive engine allows Panorama to deliver the right insights to users. Another important differentiator is the collaborative capability. This feature allows users to share content like dashboards and insights found with their colleagues, they can start discussions and create ad-hoc teams to solve the issues found.

Panorama Necto is a state-of-the-art, modern BI platform, enabled by a centralized architecture. Do you want to see it in action? Click below to request a demo of Necto today!

Follow the link if you’d like to see the graph of the Forrester Wave, courtesy of IBM.

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