A few days ago, Howard Dresner released his 2016 Wisdom of Crowds Market Study, and the findings are noteworthy. The report is based on over 1,500 survey respondents and provides in-depth research on business intelligence (BI) usage and 28 vendor reviews. Here are five conclusions we found interesting:
1. BI use is expanding inside organizations.
The penetration of business intelligence grew noticeably from 2015 to 2016, particularly in the 61–81% and 81% or more categories (that is, 61% or more of the organization uses or consumes a BI output). The growth was nearly 4%. Is this increase due to more intuitive self-service tools, recognition of the value of BI, the growth of data, or maybe, some combination of these drivers? Regardless, we expect this trend to continue, supported by self-service and more robust embedded BI in applications.
2. Action on insights remains popular but is declining in use.
83% of respondents reported either “closed loop” or ad hoc action on insights within their BI deployment, while just 12% reported uncoordinated action. Only 5% say insights are rarely leveraged. These findings are promising. However, the negative trend in the “action on insights” progression over time is confusing. In 2014, nearly 62% reported an ad hoc (informal) action on insights, and in 2016 this number dropped to 55%. Why?
The reason could be attributed partly to more formal processes, noted by the 4% increase of “closed-loop process for action” from 2014 to 2016. However, another contributor could be the imprecise way BI tools tie insights to known actions. Most BI tools do not tightly link to immediate action taking, resulting in end user interpretation and/or delayed or completely lost follow up. This is an area of focus for TIBCO Spotfire. We believe dashboard users should be able to identify actions directly from the insights they see. Acting on insights in the moment often yields the best benefits.
3. Business value reaches an all-time high.
Respondents to the 2016 survey said they are “receiving high and improving value from industry vendors over time.” The perceived value for price paid has remained above very good since 2012; however, 2016 reflects the strongest scores since the study started in 2011. We believe TIBCO Spotfire was a leader in value and confidence due to its business impact, as well as the strength of its technology portfolio.
4. More than just data discovery.
Many of the product leaders appearing in the “Overall Experience Leaders” quadrant provide tools with capabilities beyond visualizations and data discovery. As use of BI increases inside organizations, the most popular tools support a variety of analytic functions, including visualizations, dashboards, data preparation, advanced analytics, collaboration, mobile, and more. TIBCO Spotfire received the strongest product scores among all 28 participating vendors.
5. Updates to TIBCO Spotfire produced better results.
TIBCO has received very favorable responses to new versions of Spotfire, and Wisdom of Crowds corroborates this. Spotfire received improved scores for product robustness, usability, administration, completeness of vision, integration with third-party technology, scalability, and more. Each of these product categories were enhanced over the past two Spotfire releases (7.0 & 7.5).