The global Business Intelligence market is now worth more than $ 14 billion and is growing faster and faster. Business intelligence allows you not only to better manage risk but also gives you the ability to detect fraud and to manage increasingly complex processes. It is not surprising that Business Intelligence is becoming the most important part of building the strategy and its implementation in the business and has a huge impact on budgeting and optimizing all business activities. Especially if we take into account the amount and types of data that can be collected and analysed nowadays using the available tools, one can confidently say that not to use these opportunities would be reckless. However, it is not just collecting and analysing the data that make a company successful. This is because the most important trend in Business Intelligence will be combining the data from various sources and exploring the links between them. Today, information about businesses is collected not from one but from many systems and from different areas. Thus, the competitiveness of business analysis systems will be determined by the system’s ability to combine all the data and to help you understand the connections between them.
Over the last 5 years, the number of data sources, on the basis of which companies carry out analyses used later in the decision-making processes, have grown slowly – the growth has been estimated at 20%. However, predictions for the next five years suggest a sudden increase in such data by up to 83%.
The company’s success is primarily dependent on the scope and relevance of the analysed data. Companies using and investing in a wider range of Business Intelligence solutions demonstrate much better results than other businesses on the market. The most popular trends for investing in the sources of data and in analytics will, in the next two years, include tools and technology (51%), human resources (35%) and training (35%).
The market conditions are very dynamic and the business itself is constantly accelerating. Accordingly, there is a growing interest in the possibility of obtaining information as fast as possible and in a flexible way, which allows for carrying out the BI analyses in real time. Better access to valuable information will result in greater competitiveness. It is no wonder that companies focus on expanding the list of objectives and areas where modern analytical tools can be applied. Focusing on automation of business processes and the creation and of course the implementation of new strategies gives by far the best results.
sources: State of Analytics 2015; successpoint.pl; www.gb.pl; gartner.com; egospodarka.pl
Latest posts
Your message has been sent. Thank you!
A quick guide to business automation
Interested in an offer?
See also
Latest posts
Why Does UX/UI Matter in Mobile App Design?
Why Does UX/UI Matter in Mobile App Design? In today’s mobile app world, designing UX/UI for mobile apps is a critical element that determines their success. Without proper design, users quickly lose interest, and the app itself can be deemed unworthy of further use. UX and UI are two pillars that shape how users perceive […]
What is Digital Transformation and How Can It Benefit Your Business?
Digital Transformation – A New Era for Business In the age of rapid technological development, more and more companies are opting for digital transformation of processes. It’s not just a trend, but a strategic necessity that impacts the growth and competitiveness of enterprises in the global market. In this article, we will explain what digital […]
Back-Office Automation: How to Optimize Business Processes
Back-Office Automation: How to Optimize Business Processes and Increase Efficiency Back-office automation is becoming increasingly important for businesses seeking to optimize their operations, improve efficiency, and reduce costs. The use of technologies such as Robotic Process Automation (RPA) allows companies to automate repetitive, routine tasks, enabling employees to focus on more advanced processes and innovative […]
How to Build Effective Machine Learning Solutions
How to Build Effective Machine Learning Solutions In today’s fast-evolving world of technology, Machine Learning (ML) is one of the key innovations transforming various industries. It enables the analysis of massive datasets, automation of processes, and delivers invaluable business insights. Companies increasingly turn to ML solutions to enhance efficiency and gain a competitive edge. But […]
Why Choose a Software House with ISO 27001 Certification?
Why Choose a Software House with ISO 27001 Certification? In today’s digital world, where data security is a priority, more and more companies are looking for partners who not only create software but also guarantee the highest level of information protection. Choosing the right software house can be crucial to the success of a project, […]
Design System: What It Is and How to Create One for Mobile and Web Applications
Introduction to Design Systems In the era of rapid technological development, creating consistent and efficient interfaces for mobile and web applications is crucial. Design Systems have become an integral part of modern design, simplifying the process of creating digital products. But what exactly is a Design System, and why should you implement it? A Design […]
Symfony vs Laravel: Which PHP Framework to Choose? A Comparison of Key Differences
Choosing the right PHP framework is one of the most crucial steps in the process of developing web applications. For many developers and companies facing this decision, the most frequently considered options are Symfony and Laravel. Both frameworks are open source, offer a rich set of features, and support various platforms, but they differ in […]
Why Choose Python Django for Web Application Development in 2024
Python Django Django is one of the most popular frameworks for building web applications using the Python programming language. It is a tool that allows for rapid and efficient development of applications, making it an ideal choice for both beginners and experienced developers. Created in 2005 by developers at Lawrence Journal-World, Django has been highly […]
Utilizing Data Analysis for Strategic Business Decision-Making
The Importance of Data Analysis in Business Data analysis has become an essential element of modern business, supporting strategic decisions, optimizing processes, and increasing competitiveness. In the digital age, the amount of data generated by companies and consumers is enormous, and proper analysis enables the extraction of insights that were previously unattainable. Through data analysis, […]