Creating a Data-Driven Culture Is the Latest Trend in the Business Intelligence Market

PRESS RELEASE – WÜRZBURG, November 6th, 2018
The Business Application Research Center (BARC) publishes BI Trend Monitor 2019, a survey-based review of twenty of the key trends dominating today’s global business intelligence (BI) market, at its annual BI & Data Management Congress in Frankfurt this week.

Many organizations are now striving to become data-driven enterprises according to recent research by BARC. Despite featuring in BI Trend Monitor for the first time this year, data-driven culture was identified as the fifth most important trend in a survey of 2,679 BI users and consultants. A marked regional variation in survey responses reveals that organizations in the Americas attach far more importance to this trend than European companies. In fact, North American companies vote it as their number one trend and South American respondents make it their number two trend.

Importance of BI trends

Figure 1: Importance of BI trends from “not important at all” (0) to “very important” (10), n=2679

“This represents a major shift in today’s business world”, said Carsten Bange, founder and CEO of BARC. “Creating a data-driven culture is about replacing gut feelings with decisions based on data-derived facts, be they simple key figures like revenue or profit, results from advanced analytics models, or even qualitative data. However, a data-driven culture should not be interpreted as blindly following numbers. It should encourage the advancement of data interpretation skills and critical thinking, which enables businesses to not only base their decisions on reliable data, but also to know when it is better not to do so.” 

Surging trends

Trends that have clearly increased in importance compared to last year include agile BI development and advanced analytics and analytics teams.

“While agile development has become a preferred development approach in the BI world, advanced analytics expresses the need for businesses to use data in a more beneficial way”, said Bange. “Also, advanced analytics includes machine learning, which is tightly interconnected to many hyped use cases in the sphere of artificial intelligence.”

Development of rankings of BI trends

Figure 2: Development of rankings of BI trends, n=2794/2772/2770/2679

GDPR’s enduring influence

Having risen in the rankings last year, data governance is voted as the fourth most important trend in BI for the second year in a row, and GDPR almost certainly has a bearing on this finding. Although data governance covers a much wider spectrum than ‘just’ providing data protection, its rising significance can also be traced back to an increase in data security awareness partially brought about by legislation. The impact of GDPR is being felt beyond the European Union where it was enacted. The new regulation covers the data protection and privacy of individuals in the EU but it affects businesses that deal with Europe all over the world. 

About BI Trend Monitor 2019

Based on data from a worldwide survey of 2,679 BI professionals, BI Trend Monitor is BARC’s annual assessment of the twenty most talked-about trends in the BI software market. Each trend is evaluated by company size, region, industry and according to the self-assessment of participating companies (“Best-in-Class” vs. “Laggards”). The full report is available free of charge thanks to sponsorship from Cubeware, Information Builders, TARGIT, Unit4 prevero and Yellowfin. For further information and to download BI Trend Monitor, visit:
http://barc-research.com/research/bi-trend-monitor/

About BARC – Business Application Research Center – a CXP Group Company

The Business Application Research Center (BARC) is an enterprise software analyst and consulting firm with a focus on Analytics/Business Intelligence (BI), Data Management, Enterprise Content Management (ECM), Customer Relationship Management (CRM) and Enterprise Resource Planning (ERP). Along with analysts CXP and PAC, BARC forms part of the CXP Group – the leading European group of analysts for enterprise software and IT services with staff in eight countries.

For further information or media enquiries, please contact:

Nikolai Janoschek
Head of Market Research
Phone: +49 (0) 931 880651-0
Email: njanoschek@barc.de