Predictive Planning and Forecasting On The Rise

Press release – BARC Study: Predictive Planning and Forecasting Leads to Competitive Advantages

PRESS RELEASE – WÜRZBURG, September 28th, 2022

  • – Key Finding #1: More than a quarter of the companies surveyed use predictive planning productively (27%), a strong increase since 2020 (4%).
  • – Key Finding #2: A large proportion of organizations use predictive planning for the partial automation of forecasts (55%), and as many as 70% intend to do so in the future.
  • – Key Finding #3: Predictive planning and forecasting is most often implemented using data science tools (60%).

The analyst firm BARC today published the study “Predictive Planning and Forecasting on the Rise – Hype or Reality?”, for which 295 companies of various sizes and industries worldwide were surveyed. The study shows that 27 percent of respondents already use predictive algorithms and machine learning (ML) in corporate planning (“predictive planning and forecasting”). Another 17 percent are currently developing corresponding solutions or using prototypes. In a BARC study from 2020, only 4 percent said they supported corporate planning with predictive planning.

Study author Dr. Christian Fuchs, Senior Analyst at BARC, commented on the results: “The survey shows that many companies have recognized the potential of predictive planning and forecasting. Corporate planning benefits from more accurate, more frequent and automated forecasts, and relieves planning teams of routine tasks.”

Partial automation of forecasts is the primary use case, adopted by 55 percent of the companies surveyed (see figure below).

What do you use predictive planning for?

What do you use predictive planning for? / What do you plan to use predictive planning for? (n=73, n=124)
© BARC 2022

The study results also show that concerted actions deliver more benefits to companies than isolated measures. Study author Robert Tischler, Senior Analyst at BARC, emphasized: “The data from our study clearly shows that predictive planning delivers more benefits when it is embedded in a comprehensive realignment of the company or finance department. This often allows synergies to be exploited and the use of resources to be optimized.”

Predictive planning and forecasting is most often implemented with data science tools (60 percent overall, and 72 percent for larger companies). These are particularly suitable for implementing a wide range of use cases, which can be individually designed or sophisticated, but also require competent resources. 53 percent of respondents use analytics & BI tools, while only 36 percent use enterprise planning software with integrated predictive planning capabilities.

About the report

Predictive Planning and Forecasting on the Rise – Hype or Reality? is a BARC study that examines current usage of predictive planning and forecasting and compares it with the results of past BARC studies. The study is based on a worldwide survey of 295 companies of different sizes and industries.

The authors of the study are Dr. Christian Fuchs and Robert Tischler, Senior Analysts for Data & Analytics at BARC.

The study is available for download free of charge thanks to sponsorship by Board, Corporate Planning, Jedox, OneStream, PwC and Serviceware.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Axel Bange
Tel: +49 (0) 2331 356 93 95
Email: abange@barc.de

The Future of Data Architecture

Press Release: Centralized Data Architectures on the Way Out?

PRESS RELEASE – WÜRZBURG, September 20th, 2022

BARC (Business Application Research Center) releases the results of its new topical survey The Future of Data Architecture – Has the Data Warehouse Had Its Day? This survey-based report offers insights into today’s most promising data architecture and data modeling approaches. The study is available for download free of charge thanks to sponsorship by Precisely, TimeXtender, Denodo and Databricks.

  • – Key Finding #1: The most successful companies favor the data lakehouse approach
  • – Key Finding #2: Business user empowerment must go to the next level

Centralized vs. decentralized

Most companies continue to apply tried-and-tested concepts such as the data warehouse design paradigm for their data landscapes. Best-in-class companies favor the data lakehouse approach. However, executives and business users in particular criticize the fact that centralized approaches cannot prevent the emergence of further data silos.

“We recommend that companies work towards a federated overall architecture in which data virtualization and distributed data pipelining and orchestration are options and the framework for this is in place,” said Jacqueline Bloemen, Senior BARC Analyst and co-author of the report. “As the quantity and volume of distributed data sources increase, data architecture concepts that are exclusively centrally oriented quickly reach their limits.”

Which data architecture and data modeling approaches will be important for your future data & analytics landscape?

Which data architecture and data modeling approaches will be important for your future data & analytics landscape? (all: n=260; BIC: n=78)
© BARC 2022

 Business user empowerment must go to the next level

Providing self-service analytics tools to the business has picked up speed, and only a minority of users finds that the tools available to them are too technical. However, the data landscape is a limiting factor in many cases. Because data warehouses frequently do not meet business needs, data for analysis must be tediously gathered from various sources. But still, initiatives in the direction of a data catalog – including suitable data documentation and self-service data preparation – are not widespread.

“Best-in-class companies realize the importance of enabling business users to work with data as and when required,” said Timm Grosser, Senior BARC Analyst and co-author of the report. “However, they do not always support this properly, for example, by providing the right data documentation and the appropriate tools. Data & analytics teams must embrace this reality and shape it more consciously in the future.”

What challenges do data users in your company face? (n=260) © BARC 2022

What challenges do data users in your company face? (n=260)
© BARC 2022

About the survey

“The Future of Data Architecture – Has the Data Warehouse Had Its Day?” is a BARC market research study that examines today’s most promising data architecture and data modeling approaches. It is based on a worldwide survey of 268 companies of various sizes and industries. The authors of the study are BARC Analysts Jacqueline Bloemen and Timm Grosser.

Click here for more information and to download the full study.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Axel Bange
Tel: +49 (0) 2331 356 93 95
Email: abange@barc.de

New Value for the CFO

Press Release: Consolidation Making Way for Integrated Group Accounting

PRESS RELEASE – WÜRZBURG, June 30th, 2022

New BARC survey reveals a high level of planned investment in all areas of CPM in companies with group structures, extending the classic scope of planning and consolidation.

BARC (Business Application Research Center) releases the results of its new topical survey “New Value for the CFO”. Based on a user survey of 235 decision-makers, the global survey offers insights into the current process of software support for the office of the CFO. The study is available for download free of charge thanks to sponsorship by Board International, Fluence Technologies, OneStream and Wolters Kluwer – CCH® Tagetik.

  • – Key Finding #1: Laggards are still struggling with the core processes of planning and consolidation, while best-in-class companies are investing in new areas such as ESG (Environmental, Social, and Governance) and advanced analytics.
  • – Key Finding #2: High level of investment planned in 10 areas queried by BARC, with more than half of survey participants planning investments in eight of those 10 areas.
  • – Key Finding #3: Best-in-class companies now take a more holistic view of integrated group accounting.

Transition from consolidation to integrated group accounting

“It is highly unusual for studies about investment priorities to reveal such a broad and evenly distributed picture of planned investment,” said Prof. Dr. Susanne Leitner-Hanetseder, Professor of Accounting and co-author of the study. “In our view this reflects the transition of user demand from a focus on consolidation to integrated or unified group accounting approaches. New areas such as sustainability reporting have accelerated this process recently.”

New Value for the CFO press release chart 1

Is your company planning to invest in the following areas? (n=209) © BARC

 

Best-in-class companies invest in new areas, while laggards struggle with core applications

BARC studies often analyze the differences between best-in-class companies and laggards based on self-assessment by survey respondents. The results show that laggards are struggling with the standardization of IT tools and organizational issues, leaving less time and capacity for innovation in areas such as predictive and AI.

New Value for the CFO press release chart 2

What do you think are the most important factors that could improve your current group accounting solution? By best-in-class and laggards (n=71) © BARC

 

High level of investment 

In terms of investment priorities, best-in-class companies have an extremely broad approach to the topic of group accounting. Meanwhile, laggards are still prioritizing the core topics of planning and consolidation in order to establish a sound basis for further group accounting automation.

The companies surveyed plan to invest heavily in ten areas queried by BARC, with more than half of the participants planning to invest in at least eight of these ten areas.

New Value for the CFO press release chart 3

Is your company planning to invest in the following areas? By best-in-class and laggards (n=71) © BARC

 

“Just as ERP systems were created many years ago by combining various standalone solutions, we now see integrated group accounting solutions emerging from consolidation systems,” said Stefan Sexl, BARC Fellow and co-author of the study. “This reflects the needs of users, as shown by our study. In particular, best-in-class companies are starting to look at group accounting software support more holistically nowadays.”

About the survey

New Value for the CFO” is a topical BARC survey assessing the challenges companies currently face in consolidation and group accounting. The study is based on a worldwide survey of 235 companies of various sizes and industry sectors. The focus of the survey was to assess current investment priorities, the challenges companies have faced in recent times and the priorities they have identified to overcome them. The authors of the study are Prof. Dr. Susanne Leitner-Hanetseder, Professor of Accounting at FH Steyr, and BARC Fellow Stefan Sexl.

Click here to find out more and download the full study.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Axel Bange
Tel: +49 (0) 2331 356 93 95
Email: abange@barc.de

BARC Score

Press Release: 3rd Edition of BARC Score Analytics for Business Users is Out Now!

PRESS RELEASE – WÜRZBURG, June 27th, 2022

The analyst firm BARC (Business Application Research Center) presents BARC Score Analytics for Business Users – Platforms for Governed Self-Service Analytics. In its third edition, this BARC Score evaluates and compares the 16 most important global vendors of self-service analytics platforms. The chart, along with the software ratings, will be available from June 27th, 2022.

  • – #1: The third edition of BARC Score Analytics for Business Users evaluates the 16 most powerful platforms for governed self-service analytics.
  • – #2: The companies that make the best use of existing data are the most likely to grow and thrive in today’s economy. To do this, it must be easy for as many employees as possible to make use of all available data – in other words, data use must be democratized. This requires powerful tools that guide users through all the steps of enhancing and presenting data.
  • – #3: One example of lowering the barriers to using powerful capabilities is machine learning for faster analytics. Vendors have made great strides this year in “automated insights”, the functions that automate the discovery of dependencies, patterns and outliers in data sets. This helps users understand complicated data sets more quickly and derive insights effectively to inform decisions.

You can only democratize data use with the right tools

“Too many users have access to data, but can’t efficiently prepare, connect and present it in an attractive way. BARC Score Analytics for Business Users shows exactly which tools are the strongest for creating and sharing important content for decision support,” commented BARC Analyst and co-author Robert Tischler.

“As wide-ranging as the challenges and requirements in the field of analytics are, the scope of application of the tools must be just as broad. Whether data resides in one or many clouds or is delivered via simple files, tools must provide optimal support for all requirements. No compromises,” said Tischler.

BARC Score Analytics for Business Users 2022

Vendor positioning in BARC Score Analytics for Business Users 2022, © BARC

Journalists are welcome to use the uncensored graphics. Our Communications Manager Regina Lenke will be happy to provide them.

BARC Score Analytics for Business Users examines the platforms for governed self-service from the following 16 leading global vendors: Domo, Dundas Data Visualization, IBM, Infor, Microsoft, MicroStrategy, Oracle, Pyramid Analytics, Qlik, SAP, SAS, Sisense, Tableau, ThoughtSpot, TIBCO and Yellowfin.

For more information and the full software evaluation, click here.

About BARC Scores

Since 2015, BARC has been classifying providers of business software in various market segments and economic regions. BARC analysts evaluate each vendor meeting a number of technical and financial criteria according to their “Portfolio Capabilities” and “Market Execution”. Behind these two dimensions lie detailed, weighted criteria that determine the placement of the vendors in the BARC Score chart. In addition, BARC draws on the results of user surveys such as The Planning Survey and The BI & Analytics Survey.

For a concise overview of the market, all vendors are classified in the BARC Score chart in one of five categories: “Dominators”, “Market Leaders”, “Challengers”, “Specialists” and “Entrants”. For more information on BARC Score and the methodology behind it, visit www.barc-research.com/barc-score/.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Regina Lenke
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rlenke@barc.de

BARC Score

Press Release: BARC Presents BARC Score Enterprise BI & Analytics Platforms for the 8th Time

PRESS RELEASE – WÜRZBURG, June 27th, 2022

The analyst firm BARC (Business Application Research Center) presents BARC Score Enterprise BI & Analytics Platforms. This BARC Score evaluates and compares 21 of the world’s most important vendors of modern enterprise business intelligence & analytics platforms. The chart, along with the software assessments, will be available from June 27th, 2022.

  • – #1: For the eighth time, BARC Score Enterprise BI & Analytics Platforms evaluates and presents clear conclusions on today’s most important vendors of modern BI & analytics platforms.
  • – #2: Users do not make compromises: An enterprise BI & analytics platform must offer a wide range of functions and support the implementation of a large variety of requirements and use cases from enterprise reporting to mobile dashboards to visual or ML-supported analysis for self-service users. BARC Score Enterprise BI & Analytics Platforms considers a broad set of criteria to identify the market leaders.
  • – #3: Verticalization and industry content are gaining in relevance: While most vendors have sought to make their BI & analytics platforms attractive to as many industries as possible in recent years, they are increasingly looking for niches in industries or partnerships with ERP vendors to escape price and competitive pressure.
  • – #4: Journalists are welcome to use the uncensored graphics. Our Communications Manager Regina Lenke will be happy to provide them.

The BI & analytics software market is highly competitive – therefore, many vendors have shifted their focus to stay competitive

“This year, a number of strategic decisions made by BI & analytics vendors are clearly reflected in their positioning. Many vendors have revised their strategies to define exactly which customers and deployment scenarios they will focus on, and which they should no longer actively pursue. Vendors can therefore be divided into ‘generic’ platforms and specialists with unique strengths in their focus area,” said Larissa Baier, BARC Analyst and Head of BARC Score.

“For buyers of BI & analytics platforms, it is important to carefully examine the impact of mergers and acquisitions on the further development of solutions. As always, in addition to vendor-related considerations, individual requirements for the planned deployment scenarios that a modern BI & analytics platform is intended to serve should be considered.”

BARC Score Enterprise BI & Analytics Platforms 2022

Vendor positioning in BARC Score Enterprise BI & Analytics Platforms 2022, © BARC

Journalists are welcome to use the uncensored graphics. Our Communications Manager Regina Lenke will be happy to provide them.

BARC Score Enterprise BI & Analytics Platforms examines the solutions of the following 21 international vendors: Board International, Dimensional Insight, Domo, Dundas Data Visualization, IBM, Google, Microsoft, MicroStrategy, OpenText, Oracle, Pyramid Analytics, Qlik, SAP, SAS, Sisense, Tableau, TARGIT, TIBCO, ThoughtSpot, Yellowfin and Zoho.

For more information and the full software evaluation, click here.

About BARC Scores

Since 2015, BARC has been classifying providers of business software in various market segments and economic regions. BARC analysts evaluate each vendor meeting a number of technical and financial criteria according to their “Portfolio Capabilities” and “Market Execution”. Behind these two dimensions lie detailed, weighted criteria that determine the placement of the vendors in the BARC Score chart. In addition, BARC draws on the results of user surveys such as The Planning Survey and The BI & Analytics Survey.

For a concise overview of the market, all vendors are classified in the BARC Score chart in one of five categories: “Dominators”, “Market Leaders”, “Challengers”, “Specialists” and “Entrants”. For more information on BARC Score and the methodology behind it, visit www.barc-research.com/barc-score/.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Regina Lenke
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rlenke@barc.de

Driving Innovation With AI

Press Release: DataOps and MLOps Can Help to Overcome Almost All ML Challenges and Problems

PRESS RELEASE – WÜRZBURG, June 2nd, 2022

BARC (Business Application Research Center) releases the results of its new topical survey “Driving Innovation with AI. Getting Ahead with DataOps and MLOps”. This global survey gives insights into the perception of DataOps and MLOps and related issues. The study is available for download free of charge thanks to sponsorship by ONE LOGIC, Domino Data Lab and DataRobot.

  • – Key Finding #1: DataOps and MLOps are widely perceived as relevant concepts for addressing common ML challenges and issues, but only 50 percent of companies already using ML have begun implementing them.
  • – Key Finding #2: The concepts live up to their reputation and can provide successful solutions to numerous challenges, help to cope with complexity and enable faster deployments. 97 percent of those who have implemented data/MLOps say they have made significant improvements as a result.
  • – Key Finding #3: While open source is dominating the scene, the complexity-reducing and accelerating effect of commercial tools and platforms in the provision of ML results can play an important role for the implementation of Data/MLOps.
  • – Key Finding #4: The adoption of DataOps and MLOps is also having a positive impact on the success of other measures such as hiring experts and using new tools, platforms and infrastructure. However, there are still unresolved challenges, most notably access to data and overall acceptance of ML solutions in the broader enterprise context.

What benefits can you expect from Data/MLOps?

According to the results of BARC’s new survey, most companies have only just started their ML journey so have not yet deployed an ML model. Nevertheless, most respondents have already familiarized themselves with the concepts of DataOps and MLOps and are evaluating their implementation. The proportion of those who have already at least partly adopted DataOps and MLOps is surprisingly low at 26 percent. Of the ML practitioners surveyed who have deployed at least one ML model, half have already adopted DataOps and MLOps to some degree and 97 percent of those said they have achieved significant improvements by doing so (see Figure 1).

Which significant improvements has your company achieved with the introduction of MLOps/DataOps?

Figure 1: Which significant improvements has your company achieved with the introduction of MLOps/DataOps? (n=61)
© BARC

 

“This is no surprise as DataOps focuses on the realization of a manageable, maintainable and automated flow of quality-assured data to data products whose success depends on being up to date,” said Alexander Rode, Data & Analytics Analyst at BARC and co-author of the study. “MLOps addresses the additional special requirements of the development, deployment and maintenance of ML models which are also data products. The goal of both concepts in this context is to achieve transparency regarding all interdependencies across involved systems along an end-to-end data pipeline and to foster collaboration between experts by making the process of developing, updating and maintaining ML models more agile and efficient.”

The survey also uncovered several other positive effects and comparative advantages that can be attributed to the adoption of DataOps and MLOps.

Software selection also matters

In general, DataOps and MLOps as process-oriented concepts can be implemented with open source and commercial tool stacks alike. Nevertheless, the study results show that users of commercial tools are less likely to experience overwhelming complexity as soon as ML models are deployed. The type of tool used makes little difference in the phase before the first deployment (see Figure 2).

Tool stacks compared by actual complexity vs. expected complexity, by level of advancement

Figure 2: Tool stacks compared by actual complexity vs. expected complexity, by level of advancement (ML beginners: n=99; ML practitioners: n=100)
© BARC

 

“In our opinion, this time should be used to experiment with different tools and to evaluate present and future requirements,” said Rode. “We recommend getting familiar with the concepts of DataOps and MLOps as they address most of the challenges and problems of applied AI. The survey results indicate that this is not a bad idea anyway. Just occupying yourself with these concepts seems to have a positive effect on the perception and handling of ML-related work. The adoption of DataOps and MLOps also promotes the faster deployment of ML models.”

About the survey

Driving Innovation with AI. Getting Ahead with DataOps and MLOps is a BARC market research study that examines the perception and impact of DataOps and MLOps in companies who want to make use of machine learning. It is based on a worldwide survey of 248 companies of various sizes and industries. The authors of the study are BARC Analysts Alexander Rode and Timm Grosser.

Click here to find out more and download the full study.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Regina Lenke
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rlenke@barc.de

The Planning Survey 22

Press Release: BARC Survey Suggests Interest in Predictive Planning May Have Peaked

PRESS RELEASE – WÜRZBURG, May 30th, 2022

The analyst firm BARC published the results of The Planning Survey 22 today. The eighth edition of BARC’s respected annual study collates feedback from 1,325 professionals on their selection and use of software for planning, budgeting and forecasting.

Key findings:

  • #1: The rate of use of predictive planning appears to be tailing off
  • #2: 49 percent of the companies surveyed have integrated their planning and analytics, and 35 percent plan to do so
  • #3: There is a clear trend over the last five years of buyers paying more attention to reporting and analysis functionality when selecting their planning software

Year-on-year decline in predictive planning

Until 2019, the proportion of companies with plans to make use of predictive planning and forecasting increased steadily each year. However, it has stagnated somewhat in recent years and this year it has decreased slightly for the first time. The rate of ‘planned’ use is at 54 percent in this year’s Planning Survey (see Figure 1). Also the proportion of companies that currently use predictive planning and forecasting has dropped significantly to just 15 percent (compared to 23 percent in 2021).

Use of predictive planning 2016-22

Figure 1: Use and planned use of predictive planning and forecasting, 2016-2022 (n=various) © BARC

“The big question is whether this development is a one-off or whether the hype around predictive planning and forecasting really is starting to cool,” said Dr. Christian Fuchs, senior analyst at BARC and author of The Planning Survey 22. “There are significant challenges to overcome in order to implement predictive planning and forecasting successfully. Only valid use cases with the right data of the right quality with the necessary granularity and enough history allows solid predictions of probable future developments. Precise forecasts require a sufficiently large and well-maintained volume of data for training of algorithms as well as a deep understanding of cause-and-effect relationships and a high degree of integration between planning and analytics. Furthermore, significant expertise, time and resources are needed to develop and continuously train algorithms, and decision-makers have to put their trust in the results. It would be understandable if some companies decided that they did not have all the right conditions or resources for success in such uncertain times.” 

Integrating planning with reporting and analytics is key to success

49 percent of the companies surveyed have integrated their planning and analytics, which is an increase of 2 percent compared to last year’s Planning Survey (see Figure 2). Meanwhile a further 35 percent plan to invest in an even tighter integration of planning with analytics and business intelligence in the future.

“Besides the comprehensive integration of planning, its integration with analytics as well as other performance management processes is essential for holistic corporate management and properly functioning performance management,” said Fuchs. “Not only do we see an increase in companies having already integrated their planning and analytics this year, but over a third of companies intend to invest in an even tighter integration of planning with analytics and business intelligence in the future. There is also a clear trend over the last five years of buyers paying more attention to reporting and analysis functionality when selecting their planning software.”

Planning Survey 22 data on integration of planning

Figure 2: Time series for actual and planned integration of planning, 2016-2022 (n=various) © BARC

About the study

The Planning Survey 22 is the eighth edition of BARC’s major annual study into the selection and use of planning, budgeting and forecasting tools. The findings are based on a worldwide survey of 1,325 planning users, consultants and vendors, which was conducted from November 2021 to February 2022. It features current data on market trends and the selection and use of software, as well as a detailed comparative study of 19 leading planning products. Once again, BARC pledged to give €1 to charity for every survey completion. This year, a donation of €1,325 was made to UNICEF.

Useful links

For more information, visit:
https://bi-survey.com/planning-survey-about

For aggregated product-related results and an online product comparison tool, visit:
https://bi-survey.com/planning-software-comparison

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For further information, please contact:

Regina Lenke
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rlenke@barc.de

BARC Score BI 2018 chart

Press Release: BARC Presents Two New Editions of the BARC Score

PRESS RELEASE – Würzburg, March 31st, 2022

The 2022 editions of BARC Score Integrated Planning & Analytics and BARC Score Financial Performance Management are now available.

  • – BARC Scores provide an at-a-glance classification of relevant providers in the market.
  • – The market for integrated planning and analytics tools is converging.
  • – Providers of financial performance management software have expanded their portfolio capabilities since last year.

The analyst firm BARC has published two new BARC Scores. BARC Score Integrated Planning & Analytics assesses 14 vendors this year, while BARC Score Financial Performance Management compares 15 providers. There are two versions of each BARC Score: one that looks at the global market and one that focuses purely on the DACH region. All are available to BARC Access clients or for purchase here.

“Making well-founded decisions based on current forecasts and data analytics has become massively more important. Companies want to evaluate potential future developments more efficiently in scenarios and simulations, and the automation of processes is also in vogue. This requires the right software tool,” said Dr. Christian Fuchs, Senior Analyst Data & Analytics at BARC. “However, the search for a new and, above all, requirements-oriented software solution is not straightforward. Market dynamics and competition are increasing rapidly, which is causing problems for many organizations.”

“The aim of BARC Scores is to support companies in their software selection. Relevant software providers can be assessed at a glance,” explained Dr. Fuchs. “BARC Score Integrated Planning & Analytics is aimed at organizations that are looking for integrated solutions for planning, budgeting and forecasting, but also business intelligence (BI) and analytics capabilities. If a company is striving to increase its financial performance and efficiency, it should consult BARC Score Financial Performance Management. This report provides an overview of integrated solutions for financial planning, group consolidation and financial reporting.

The complete BARC Score documents contain a graphic overview of the market as well as detailed descriptions of the providers and their solution portfolios. A strengths/weaknesses analysis is also included, which companies can use to compare with their own requirements in order to make an informed decision.

BARC Score Integrated Planning & Analytics 2022 chart

BARC Score Integrated Planning & Analytics shows that the globally active providers are converging. The market continues to grow and demand from users is high. “We are also seeing that some providers are expanding their functions for analytics and BI while others are increasingly focusing on functions for operational application scenarios and planning processes,” said Dr. Fuchs.

This year’s editions of BARC Score Integrated Planning & Analytics include the following vendors:

Vendor BARC Score IP&A Global BARC Score IP&A DACH
Anaplan
Board International
Corporate Planning
IBM
Infor
insightsoftware
Jedox
OneStream
Oracle
Planful
Prophix
SAP
Serviceware
Unit4
Wolters Kluwer
Workday

For more information and the full software evaluation, visit:
https://barc-research.com/barc-score/barc-score-planning-analytics/

The software market for financial performance management tools is also highly competitive, with a wide range of offerings.

BARC Score Financial Performance Management 2022 chart

In the market analysis, most of the providers examined are positioned in the “Challengers” segment, while four have established themselves as “Market Leaders” and offer a comprehensive portfolio for financial performance management. “This year, many providers have expanded their portfolio capabilities for financial performance management. Others have strengthened by acquiring solutions. Some vendors have grown significantly in the past year, which is reflected in a strong gain of new customers as well as significant revenue increases,” confirmed Dr. Fuchs.

The following providers are included in the 2022 editions of BARC Score Financial Performance Management:

Vendor BARC Score FPM Global BARC Score FPM DACH
Anaplan
Board International
Corporate Planning
IBM
Infor
insightsoftware
Jedox
LucaNet
OneStream
Oracle
Planful
Prophix
SAP
Serviceware
Unit4
Wolters Kluwer
Workday

For more information and the full software evaluation, visit:
https://barc-research.com/barc-score/barc-score-financial-performance-management/

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

For all enquiries, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de

Strategies for Driving Adoption and Usage with BI and Analytics

Press Release: New Study Identifies Drivers of BI and Analytics Adoption in Companies Today

PRESS RELEASE – BOSTON/WÜRZBURG, March 30th, 2022

BARC (Business Application Research Center) and Eckerson Group today published the results of the new topical survey Strategies for Driving Adoption and Usage with BI and Analytics. Based on a user survey of 214 companies, the study focuses specifically on the adoption, usage, and value of business intelligence (BI) and analytics tools, and generally on the effectiveness of data & analytics programs. The study is available for download free of charge thanks to sponsorship by insightsoftware, Logi Analytics, MicroStrategy, Tableau and Toucan Toco.

  • – Key Finding #1: The percentage of employees actively using BI/analytics tools is currently 25% on average, reflecting minimal growth in the past seven years we’ve been tracking this metric.
  • – Key Finding #2: At the same time, 50% of data & analytics leaders say BI/analytics usage has “increased a lot.”
  • – Key Finding #3: The primary technical drivers of increased usage are “self-service authoring tools” (73%), data preparation tools (48%), and “embedded BI/analytics” (38%).
  • – Key Finding #4: Key business drivers of increased usage are “change in data culture” (51%), “new data-driven executives” (50%), “digital transformation or other strategic initiatives” (50%).

According to a new survey conducted by BARC and Eckerson Group, usage of BI/analytics tools is increasing while adoption rates remain stuck. “We’re puzzled by the persistently low adoption rates of BI/analytics tools,” said Wayne Eckerson, founder of Eckerson Group and co-author of the study. “On one hand, today’s organizations are hungry for data to fuel digital transformations, modernize supply chains, and create 360-degree views of customers. And the cloud has made BI and analytics tools easier to use, install, and maintain. Yet, the average adoption rate of tools designed to help business users query, visualize, and analyze data and share insights has been stuck around 20% for many years.”

Good news: Usage of BI/analytics output is growing, fueled by several trends

The picture gets rosier when we ask data & analytics professionals to describe trends in BI/analytics usage rather than count the number of employees and licensed users, which is how we calculate adoption rates. Almost all (92%) of respondents said usage of their BI/analytics tools has increased in the past five years, with a whopping 50% saying it has “increased a lot.” Clearly more users are using BI/analytics output, such as charts, tables, and dashboards, if not BI/analytics tools themselves (see Figure 1).

Has the usage of BI/analytics tools increased or decreased in the past five years?

Figure 1: Has the usage of BI/analytics tools increased or decreased in the past five years? (n=211)
© BARC and Eckerson Group

 

“Usage growth is primarily fueled by “off-license” usage from front-line workers using BI/analytics output embedded in operational applications as well as external users (e.g., customers and suppliers) using external-facing reports and dashboards,” said Dr. Carsten Bange, founder and managing director of BARC and co-author of the study.

North American companies adopt new technologies faster than their European counterparts

When we asked respondents to explain the growth in usage, a few clear winners rose to the surface. Self-service capabilities took the two top spots. Almost three-quarters (73%) of respondents cited “self-service authoring tools for reports and dashboards”, while almost a majority (48%) mentioned “data preparation features.” This was closely followed by “embedded BI/analytics capabilities” selected by 38% of respondents. Other choices included “semantic layers” (21%), “data catalogs and business glossaries” (21%), “natural language queries” (14%), and augmented BI features (13%) (see Figure 2).

Which technical features have contributed to an increase in usage and adoption of BI/analytics tools?

Figure 2: Which technical features have contributed to an increase in usage and adoption of BI/analytics tools? (n=213)
© BARC and Eckerson Group

 

North American and European respondents registered similar scores for all technical features except one: embedded BI/analytics. Here, 51% of North American respondents said embedded BI/analytics has increased usage compared to just 32% of Europeans. North Americans are much more likely to have a majority of their employees (i.e., between 51% and 75% of all employees) viewing embedded charts and tables than Europeans by a ratio of 23% to 15%. Many more European respondents said zero employees at their organizations used embedded BI/analytics output than North Americans (12% to 3%). We see other notable differences when we compare the usage of technical features of North American to European companies. For data catalogs, the usage ratio between North American and European companies is 29% to 17%; for natural language queries, 20% to 13%; and for augmented intelligence, 20% to 10%. These results reinforce the notion that North American companies adopt new technologies faster than their European counterparts.

About the survey

“Strategies for Driving Adoption and Usage with BI and Analytics” is a topical survey conducted by BARC and Eckerson Group, examining technical and organizational drivers of BI and analytics adoption as well as barriers to adoption. The report is based on a global survey of 214 data & analytics leaders. In the final section of the report, the authors use the survey as a springboard to generalize about the drivers and challenges of successful data & analytics programs using their combined 60+ years of experience in the field. The authors of the study are Dr. Carsten Bange, founder and managing director of BARC and Wayne Eckerson, founder of Eckerson Group.

Click here to find out more and download the full study.

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

About Eckerson Group

Eckerson Group is a global research, consulting, and advisory firm that helps organizations get more value from data. Our experts think critically, write clearly, and present persuasively about data analytics. They specialize in data strategy, data architecture, self-service analytics, master data management, data governance, and data science. Organizations rely on us to demystify data and analytics and develop business-driven strategies that harness the power of data. Learn what Eckerson Group can do for you!

Contact

For all enquiries and further information, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de

BARC COVID Survey 21

Press Release: BARC COVID Survey 21: Changed Priorities in Pandemic Times

PRESS RELEASE – WÜRZBURG, November 30th, 2021

BARC publishes its second COVID-19 study on the impact of the current crisis on data and analytics.

  • #1: The analyst firm BARC surveyed around 950 respondents in a global survey: the results of the study highlight the main issues of importance in the area of data and analytics during the ongoing coronavirus crisis.
  • #2: The study reveals that business intelligence (BI) initiatives have increased at the companies of 45% of respondents over the past 12 months.
  • #3: COVID-19 is proving to be an inadvertent driver of digitalization: in the post-pandemic period, companies expect the level of data-driven decision-making to increase by 24% on average.

BARC publishes the BARC COVID Survey 21, for which some 950 professionals were surveyed for the second time during the pandemic between March and May 2021 about the impact of the coronavirus crisis on the development of data and analytics in their companies. The results of the study show, among other things, that the crisis and the challenges it poses for companies means that topics that had previously been given lower priority have made a comeback. The study is available to download free of charge.

BI and cloud: the top topics in pandemic times

In the last twelve months, most investment has flowed into business intelligence initiatives. Dr. Carsten Bange, Founder and Managing Director of BARC and author of the study feels that the new importance of BI can be easily explained: “Since the beginning of the pandemic, the need for transparency has clearly been at the forefront. That’s because the world has faced, and continues to face, an unprecedented situation. At every turn, companies need to find out where they currently stand – what’s happening with supply chains, customers and employees.”

According to respondents, the need for BI will not abate in the next twelve months: 76% said they would like to further expand BI initiatives in their company.

Second in the list of investment priorities is the introduction of cloud applications. “That is less surprising,” said Bange. “With the COVID-19 pandemic, employees are being encouraged to work from home: The need to access data from anywhere has grown significantly as a result.”

Development of a “new normal”

The study also shows that the impact on business of the coronavirus crisis has not been entirely negative. Data-based decision-making in companies has been – and will be – significantly strengthened in the future. Survey participants have already seen an increase of 12% toward more data-driven decisions. After the pandemic, the projected figure is 24%. This makes the pandemic an inadvertent driver of digitalization.

Respondents indicated that measures to improve data quality would have been particularly helpful in dealing with the coronavirus crisis. This proves that there is a growing understanding of the importance of a solid data foundation and the need for investment in data management and data quality.

Related links

More information and to download the full report

About BARC

BARC (Business Application Research Center) is one of Europe’s leading analyst firms for business software, focusing on the areas of data, business intelligence (BI) and analytics, enterprise content management (ECM) and customer relationship management (CRM). The company was founded in 1999 as a spin-off of the Chair of Business Administration and Information Systems at the Julius-Maximilians-University in Würzburg. Today, BARC combines empirical and theoretical research, technical expertise and practical experience, including a constant exchange with all market participants.

Contact

For all enquiries and further information, please contact:

Regina Schmidt
Communications Manager
Tel: +49 (0) 931 880651-47
Mobile: + 49 (0) 1520 431 82 39
Email: rschmidt@barc.de