Plus, the added advantage of reduced storage risk compared to traditional forms of storage establishes it as a stronghold in the record-keeping industry. According to business intelligence industry statistics, cloud BI helps record-keeping enterprises to store manage, and report insights from data at a reduced cost. Record-keeping is a delicate job, and when done right, it can increase business revenue. Record-keeping organizations (financial institutions, higher education, retail companies, etc) are the major industries leveraging cloud business intelligence today. Tools like self-service BI allow almost anyone to extract insights from data in real-time, without having to go through all the cumbersome processes involved in the organization's decision making. Now, companies are actively utilizing data analytics to help make fact-based decisions. Gone are the days when businesses were operated based on assumptions and instincts. Data analytics makes decision-making 5x faster for businesses. Therefore, making your transition is now to gain a competitive edge in the future.Ībove all - no more assumptions or guesswork in making decisions critical to business survival! 4. Business intelligence trends for 2021 show that one in every three companies will be using this form of fact-based data in the coming years. A third of large-scale organizations will adopt decision intelligence by 2023.ĭecision intelligence is quickly evolving as a staple for establishments looking for growth. Organizations also incorporated business intelligence into their processes that same year.Īnd others! 3. Covid-19 propelled a higher adoption rate of BI in 2020.Īccording to business intelligence trends, most businesses changed adopted online working, marketing, or selling in 2020 due to Corona. It is easy to scale if need be, highly reliable, and also offers better security than physical servers. Therefore, it’s no surprise that over half of businesses value it. By 2020, the percentage had almost tripled, though.īusinesses are starting to have more confidence in the systems, compared to past years.Ĭloud-based BI is not only cost-effective to manage but also provides access to more data (both structured and unstructured). Back then, only 10% of business owners considered it vital. In 2020, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.Īccording to business intelligence technologies, the popularity grew since 2012. We offer you an in-depth explanation of some key business intelligence statistics. 71% of buyers prefer Microsoft Azure as their number one vendor.īusiness intelligence is crucial nowadays.7 out of 10 business rate data discovery as very important.The top three business intelligence trends are data visualization, data quality management, and self-service business intelligence (BI).Most businesses adopted business intelligence in 2020.The global business intelligence market will grow to $33.3 billion by 2025.Self-service business intelligence is crucial for 60% of research and development departments.Data analytics makes decision-making 5x faster for businesses.By 2023, over 33% of large-sized businesses will practice decision intelligence.Here are some highlights to help you understand the importance of it all:
Eye-Opening Business Intelligence Statistics
And so, we have hand-picked some of the most relevant business intelligence statistics for 2022. We understand the importance of BI to your business’s growth. Certainly, the big brands of any industry know this. So, according to business intelligence statistics, any business effectively applying the insights extracted from market data will surely benefit. We now produce more data daily than ever before. More and more businesses undergo digital transformation in response to industry demands. Over time, the business intelligence industry has morphed into a billion-dollar enterprise. Best Electric Garage Heaters 120V for 2022īusiness intelligence (BI) helps enterprises collect, analyze, present, and integrate data to facilitate actionable insights for business growth.
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