Spotfire was named a BI “strong performer” among 11 vendors in Forrester’s recent report, The Forrester Wave: Enterprise Business Intelligence Platforms, Q4 2013 by Boris Evelson and contributors Holger Kisker, Ph.D., Martha Bennett and Nasry Angel.
In this post, we’ll look at why and a few of the key takeaways about where the business intelligence market is going.
It’s about competing on data: “The majority of large organizations have either already shifted away from using BI as just another back-office process and toward competing on BI-enabled information or are in the process of doing so,” Evelson notes.
Why? A global economy and increasing commoditization are key factors for why companies have to look beyond cost, margins, products and services, Evelson says.
How are companies finding success with data?
Evelson predicts that it’s about two kinds of companies: 1) The companies that know more about their customers and products than the competition (based on data analytics) and 2) The companies that have the same info but get it faster (i.e., speed-to-decision will really matter).
Big software providers lead the pack, but specialists (like Spotfire) are also leaders. Especially in the business user case: “. . . TIBCO Spotfire provide[s] differentiated, highly visual, intuitive analytics oriented toward business users,” Evelson says.
Self-service BI tools that don’t rely on are gaining enterprise attention: Evelson points out that companies like Spotfire that started out as “departmental desktop BI tools aimed at business users due to their ease of use and lesser reliance on enterprise IT support” are “scaling up.” It’s what we talk about often on the Trends and Outliers blog – getting a win on a pilot project and showing the value of data is a great starting point for becoming a data-driven enterprise.
Cloud BI offerings cut complexity: Complexity is a pitfall of many BI products, but cloud offerings take much of the “ations” out of the projects. Evelson says that if you’re looking to delete “installation, integration, configuration, optimization, maintenance and support” from your data analytics projects, a cloud offering like Spotfire is “an attractive choice.”
How Forrester Rates Vendors in the Wave Report
For this report, Forrester looked at four major functional areas:
- The ability to query databases using SQL and MDX
- A complete, self-contained, fully functioning BI environment that does not have to be embedded in other applications
- Significant market presence – at least 100 in-production customers and more than 10% enterprise-grade installations
- Frequent interest from Forrester clients in questions/mentions in the context of inquiries about BI
Where Spotfire Stands Out in the Forrester Report
- Visual Analytics – Forrester says that we “lead the market in highly visual streaming analytics and business activity monitoring.”
- Real-Time Analytics – Evelson notes that our “tight integration with process workflows, rules and advanced analytics help enable the modern real-time enterprise.”
- In-Memory Analytics and Advanced Data Visualization – Evelson calls our latest software version the “space shuttle of in-memory analytics and advanced data visualization, embedding more predictive analytical routines than its closest competitors.”
- Broad Spectrum of Users – “Today many organizations implement [Spotfire] for all types of knowledge workers, from casual users to mobile executives.
- Try Spotfire: Get started with a free, 30-day trial that allows you to upload a spreadsheet then start creating beautiful visualizations.
- Download The Forrester Wave: Enterprise Business Intelligence Platforms, Q4 2013 to see all of the ranking factors and takeaways for purchasing BI tools today.
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Spotfire Blogging Team