Business Analytics: A valuable managerial tool for Indian enterprises to become globally competitive?
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Information explosion & change are the two factors and key contributors to the rapid growth of the business analytics & business intelligence market in Asia/Pacific
Evidence of the competitive value of business intelligence (BI) and analytics solutions is growing. BI data warehouse (DW) tools and analytic applications, a set of technologies and processes that CMR refers to as business analytics are being deployed to support strategic decision making across all industries.
An increasing number of organizations are making BI functionality more pervasively available to all decision makers, executives, staff employees, managers and suppliers. However, having a pervasively available BI solution in an organization means much more than distributing basic reports to all stakeholders.
Lately, CMR is seeing instances where BI solutions are being deployed to help automate the process and manner in which key operational decisions are being made. The need for pervasive BI in an organization becomes readily apparent as well as the need to move the definition of “BI” beyond simply disseminating information to all.
Though BI is gaining mainstream interest, the legacy of low adoption rates, shelf-ware, and failed DW projects persist. During the last 5 years, BI solutions have improved in performance, availability, and user interfaces enabling deployment of decision support and automation functionality to more users. CMR is also seeing early signs of a shift towards the vision of Intelligent Process Automation.
Long-term trends suggest that Asia Pacific is in the first stages of BI solution adoption. As BI becomes more pervasive, CMR expects to see new users spanning the entire organization at all levels. Furthermore, as the enterprise gains insight into the new information revealed by strategic BI adoption, the spectrum of the strategic and operational decision making process will become further automated and integrated.
Yet, many companies and other organizations remain unclear and unaware of the best practices in achieving pervasive BI, leveraging analytics for competitive advantage. Historical view of BI as a set of tools for either reporting or for analysis by a few analysts persists. Operational BI, real-time analytics, decision management, active and dynamic data warehousing, business activity monitoring, dashboarding are often being used in an interchangeable manner, further confusing end users. A large new set of organizations in Asia/Pacific are planning or starting to deploy their first BI systems. Many of these organizations don�t have the necessary expertise to succeed in such efforts, while the more technology savvy organizations are seeking to maximize existing business analytics/ BI investments.
Key Questions Addressed in CMR Research
In view of the above, some of the key questions that we seek to answer in CMR studies on the subject of Business Intelligence / Business Analytics are:
- Snapshots, Trends and Drivers in Business Analytics Market
- Industry Focus Business Analytics/ Business Intelligence Topic (Government, FSI, Telecommunications, Retail)
- Best Practices in Business Analytics Implementations
- Spending Priorities, Intentions and Challenges: What do CxOs Think and Want for Business Analytics?
- Improving Organisational Decision-Making through BI
- End-users’ priorities, challenges and needs, the BA market landscape, key factors and best practices in achieving more pervasive BI to
- Enable better decision making in a business enterprise