When companies spend the money to purchase new business intelligence solutions – such as QlikView, for example – they don't view it simply as an expense, like paying rent on their building or taxes to the ATO. Rather, they see it as an investment in a stronger future. They may be paying money now, but in the long run, they expect to make that cash back many times over in the form of greater revenues.
We're right in the middle of a major inflection point in the BI growth curve.
That's the thinking that's been driving an surge in BI investment over the last few years. A quick glimpse at the Australia and New Zealand markets reveals that this region of the world has been right in the thick of a larger global movement. As the benefits of BI investment continue to reveal themselves, it's likely that this movement will continue growing.
In fact, in 2016, we're in the middle of a major inflection point in the BI growth curve.
Investment growing by leaps and bounds
Business technology is always rapidly evolving, and it seems like corporate CTOs are constantly finding new areas to redirect their investment dollars. But lately, they've been sticking to one key priority, and it's business intelligence solutions. Computerworld recently reported that according to Gartner data, Australian and New Zealand businesses are going to be heavily increasing their BI investment between 2015 and 2018.
"Over the years, we've established clear best practices for business intelligence and information management," Gartner vice president Andrew White said. "Our informal surveys at Gartner events indicate that two-thirds of organisations have created a BI competency centre, or broader information management competency centre."
The investment money is there along with the strategic realignment. Gartner projects that in 2015, Australian companies spent $694 million on BI and analytics, and New Zealanders spent $94.2 million. Between now and '18, double-digit growth rates are expected in both countries.
Preparing your organisation for BI deployment
Once you've been watching this movement for long enough, it's hard to resist – eventually, you've got to scratch the itch and begin using enterprise solutions for BI at your place of business. It's important to note that deployment can get tricky, however.
Enterprise Apps Today advises taking a few key steps to make BI work for your organisation. The first is to establish a clear use case. In other words, why specifically are you investing in BI, and how can you prove that the move will generate good ROI? Making this clear will help you get support from upper-level business executives.
Beyond that, it's also crucial to identify the primary users of BI and make sure they have all the tools they need to succeed. Whether it's data analysts, IT specialists, marketing/sales coordinators or anyone else, every team member with access to your company's analytics should have all the resources they need to use them efficiently.
We have consultants who can help
The stakes are high when it comes to BI investment. A successful deployment can mean a better business and the potential for tremendous profits, whereas a few missteps can lead to a low ROI and a rough patch for your organisation. Considering the risk involved, it makes sense to reach out for a little help with ensuring a smooth implementation.
At A to BI, we are pleased to offer precisely that help. We provide solution consulting that's tailored to meeting your business' specific challenges. Whatever questions you're hoping to answer with BI, we hope to give you just the guidance you need to answer them. Contact us today, and we'll get to work on formulating analytical solutions for you.