Trend Monitor 2023

Press release – Data Quality and Data Culture Are the Top Trends in Business Intelligence

PRESS RELEASE – WÜRZBURG, December 6th, 2022

  • – Highlight #1: BARC surveyed 1,823 people worldwide for its Data, BI & Analytics Trend Monitor 2023 study.
  • – Highlight #2: The survey provides insights into the top trends in data, business intelligence and analytics.
  • – Highlight #3: Data quality, data culture and data governance are the top trends for 2023.

BARC publishes the Data, BI & Analytics Trend Monitor 2023 study. For the global survey, 1,823 users, consultants and vendors gave their opinion on the most important trends in data, business intelligence (BI) and analytics. The responses provide comprehensive insight into regional, company and industry-specific differences in the use of data and analytics and show which trends are moving the BI market.

“Creating value from data has become a must for many companies to remain competitive. This survey shows once again that practitioners place higher value on the most fundamental characteristic of data – its quality – as well as the fundamental framework conditions for the successful use of data – data culture and data governance – than on advanced methods and approaches for data and analytics,” commented Dr. Carsten Bange, Managing Director of BARC and co-author of the study.

Data quality remains top trend

Data quality and master data management are ranked as the most important trend for the 6th year in a row. This is in line with the results of other BARC studies, which repeatedly show that companies are struggling with insufficient data quality. Related to this is the stable importance of data governance, which ranks 3rd again this year (see Figure 1).

The establishment of a ‘data culture’ is ranked as the 2nd most important trend. Since it was first included in the Trend Monitor in 2019, this trend has consistently ranked in the top 5 and continues to grow in importance. Establishing and fostering a data culture is critical to unlocking an organization’s full data potential. Data discovery and self-service analytics rank 4th and 5th in the list of 19 top trends, underlining their importance. All of the top trends combine organizational and technological elements.

Importance of trends in data, BI and analytics in 2023

Figure 1: Importance of trends in data, BI and analytics from “not at all important” (0) to “very important” (10) [n=1,823]
© BARC 2022

Trends in Europe

The importance of trends is perceived very differently in European countries. Eastern Europe, France and the United Kingdom in particular attach greater importance to most BI trends than the other European regions. Conversely, the German-speaking region (“DACH”) attaches significantly less importance to most trends except agile BI development and master data/data quality management, both of which are rated more or less equally across Europe. Overall, European perceptions reflect the overall ranking of the top trends: data discovery, data culture, master data/data quality management and data governance are seen as the most important trends this year.

Evolution of rankings of data, BI and analytics trends 2019-2023

Figure 2: Evolution of rankings of data, BI and analytics trends 2019-2023 (n=various)
© BARC 2022

 

Rising trends: cloud for data & analytics and data catalogs

Cloud for data & analytics has risen from 18th to 9th place in the rankings over the last 5 years (see Figure 2). A similar development can be observed for data catalogs, which has leapt from 19th to 10th place in the last 4 years. Conversely, agile BI development has dropped 7 places to 14th in the last year. This approach to development is now so common that it is probably considered less important as a separate trend than other topics.

About the study

With 1,823 respondents, the BARC Data, BI & Analytics Trend Monitor 2023 is the largest global trend study on analytics, business intelligence and data management. It offers a detailed evaluation and weighting of 19 individual trends by region, industry and self-assessment of the participating companies (“best-in-class” vs. “laggards”).

The study is available for download free of charge thanks to sponsorship by Denodo, humanIT and TARGIT.

About BARC

BARC 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

Press release – BARC Survey: Easier Access to More Data Promotes a Better Data Culture

PRESS RELEASE – WÜRZBURG, November 24th, 2022

  • – Highlight #1: BARC surveyed 384 people worldwide for its “Data Culture Survey 23”.
  • – Highlight #2: The survey presents current trends in the building of a company data culture. This year, the focus was on the topic of data access, which 96% of survey participants agreed is the most relevant factor in the establishment of a data culture.
  • – Highlight #3: The BARC Data Culture Framework provides concrete recommendations for data culture and data strategy.

BARC publishes the study Data Culture Survey 23, for which 384 people were surveyed on the current data culture in their companies. Respondents came from all over the world and represent a variety of different functions, industries and company sizes. Based on the results, the authors have derived trends in the establishment of a data culture and provide concrete recommendations for action.

The study shows companies understand that a data culture must be anchored in the data strategy if it is to have lasting success. The most frequently implemented data culture initiatives are “data strategy” (34%), “data governance” (33%) and “data access” (32%).

Data access is crucial

Respondents cited “data access” as the most important initiative to positively impact data culture. The biggest challenges to liberalizing data access are users’ lack of knowledge and enabling simple access methods. Many of the conditions for better data access must therefore be created first. More than half of all respondents would like to have greater transparency about company data and to be able to access it more easily (Figure 1).

What are the biggest challenges to data access?

Figure 1: What are the biggest challenges to data access? Top 3 (n=369, source: BARC Data Culture Survey 23)
© BARC 2022

Gut feeling is still important when making decisions

The majority of respondents rely on a mix of data and gut feeling to make decisions (51%). The percentage of companies that tune out gut feelings and make mainly data-driven decisions has remained stable this year at around one third (32%). However, nearly half of the companies surveyed say improved decision-making is among the goals they have achieved. More than a third have achieved process improvements and cost reductions through the use of data. However, there is also a high expectation of benefits from data. Respondents hope to achieve further improvements in their decision-making and processes, revenue growth and ultimately competitive advantage through a better data culture.

Dr. Carsten Bange, Managing Director of BARC and co-author of the study, commented, “Data culture still eats data strategy for breakfast. Anchoring a sustainable data culture is vital if companies want to enforce their data strategy. For this to happen, there needs to be company-wide awareness of the benefits and advantages of data and analytics.”

BARC Data Culture Framework

To help companies understand the key starting points for establishing and improving a data culture, BARC has developed the Data Culture Framework (Figure 2). The framework includes six action areas. There is no inherent hierarchy among them; different companies will have different starting points and priorities. However, data access and data governance are among the first topics most companies address.

BARC Data Culture Framework

Figure 2: The BARC Data Culture Framework
© BARC 2022

 

About the survey

“BARC Data Culture Survey 23 – How to Liberalize Data Access to Empower Data Users” is a new BARC study on the topic of establishing and maintaining a data culture. 384 people from different functions, industries and company sizes from all over the world were interviewed for the study. The authors are Dr. Carsten Bange, BARC Founder and CEO, and Timm Grosser, Senior Analyst for Data & Analytics. The study is available for free download here thanks to sponsorship by Denodo, Snowflake, Tableau and Zeenea. The accompanying infographic can be found here.

About BARC

BARC 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 BI & Analytics Survey 23 Cover image

Press release – Companies Are Increasingly Relying on Generalists for Their BI & Analytics Software

PRESS RELEASE – WÜRZBURG, October 28th, 2022

  • – Key Finding #1: BARC surveyed 1,951 people worldwide for The BI & Analytics Survey 23.
  • – Key Finding #2: The largest survey of BI and analytics users provides valuable insight into software selection and usage as well as customer satisfaction.
  • – Key Finding #3: 24 leading software products were evaluated in detail.

BARC publishes The BI & Analytics Survey 23, the world’s largest survey on business intelligence (BI) and analytics software, based on feedback from 1,951 users. The survey compares 24 leading software products, highlights current market trends, and evaluates best practices for selecting and deploying BI and analytics software.

The world’s largest user survey on business intelligence software

The BI & Analytics Survey 23 shows that the market for BI and analytics tools remains highly competitive and difficult for buyers to navigate. It is notable that buying criteria that are easy to assess, such as functional scope and costs after implementation, do not necessarily lead to business benefits. Instead, criteria such as scalability and fast response times should be prioritized when selecting software. This is shown by directly comparing users’ expectations of solutions and actual satisfaction after implementation. For example, some front ends that claim to be scalable are not capable of processing large volumes of data in productive use.

In addition to comparing the reasons for purchase and problems experienced, The BI & Analytics Survey analyzes the areas of the company in which BI and analytics products are used and the purposes for which they are used. It reveals the strengths and weaknesses of market-leading products such as Microsoft Power BI, Tableau and Qlik, as well as smaller and emerging vendors.

Choosing and buying BI software

Self-service BI and analytics solutions are currently in vogue. Of the five products most often considered for purchase recently, four are often associated with self-service. This shows that supporting an approach that spreads analytics content creation across many shoulders remains a critical factor in purchasing decisions. Nonetheless, buyers’ attention is shifting from isolated self-service applications to platforms that provide governed self-service capabilities to ensure high quality and efficiency in content creation.

Figure 1: Which BI and analytics products did your organization evaluate for acquisition? Top 15

Figure 1: Which BI and analytics products did your organization evaluate for acquisition? Top 15 (n= 1,533)
© BARC 2022

A look at the most purchased BI products by vendor shows that Microsoft clearly dominates. It should not be overlooked that Microsoft often sells multiple products to a single customer. This also applies to SAP, which takes second place when sales of all its products are combined. SAP is just ahead of Qlik and Tableau. In addition to IT giants such as IBM and Oracle, specialists such as SAS and Bissantz can also be found in the top ten (see Figure 2).

In general, it can be observed that BI and analytics specialists have been increasingly evaluated in the last two years, but often lose out to software suite providers or hyperscalers when it comes down to the software selection decision.

Figure 2: Which BI and analytics products has your organization acquired? Top 15, grouped by vendor

Figure 2: Which BI and analytics products has your organization acquired? Top 15, grouped by vendor (n=1,544)
© BARC 2022

 

Fast implementation for better results

The average implementation time for BI software is 3.9 months. Of course, particularly large or complex projects tend to take longer. Nevertheless, fast implementations are an important source of satisfaction, and they clearly correlate with the business benefits achieved, as evidenced by the study results.

The average implementation time for projects started less than two years ago is 3.8 months, compared with 4.0 months for older projects. This shows that changes in technology (e.g., the cloud) and project methodology are enabling customers to deploy solutions faster and achieve benefits more quickly (see Figure 3).

Figure 3: How long did it take to implement the BI and analytics aspect of the application from software purchase to initial rollout?

Figure 3: How long did it take to implement the BI and analytics aspect of the application from software purchase to initial rollout? (n=1,319)
© BARC 2022

BI and analytics are still not ‘democratic’ enough

Successful decision support in modern companies requires democratic access to data. Decision-makers in all departments need up-to-date and relevant information to base their decisions and actions on a reliable foundation. BI and analytics should be actively used by data-savvy employees across the enterprise whenever possible. However, the results of the survey show that beyond finance and controlling – 77 percent of the companies surveyed use BI and analytics there – other departments that rely heavily on data, such as sales (59 percent) and operations (52 percent), lag behind significantly (see Figure 4).

Figure 4: Which departments in your organization use BI and analytics application(s)?

Figure 4: Which departments in your organization use BI and analytics application(s)? (n=1,586)
© BARC 2022

About the survey

The BI & Analytics Survey 23 provides a detailed quantitative analysis of why customers buy BI tools, what problems they have with the tools, and how successful they are in meeting project goals.

The results of The BI & Analytics Survey 23 are presented in several documents, each focusing on a specific group of BARC survey findings.

The BI & Analytics Survey Analyzer contains information on all results and key performance indicators (KPIs) from The BI & Analytics Survey. This online tool allows users to perform their own analysis of the entire survey data set. It is also possible to filter the results by region, company size and other criteria.

A concise overview of the results of the individual products can be found here.

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

Data Management Survey 23

Press release – BARC Study: The Data Management Survey 23 Shows High Satisfaction With Tools

PRESS RELEASE – WÜRZBURG, October 18th, 2022

  • – Key Finding #1: BARC surveyed 1,236 people worldwide for the study The Data Management Survey 23.
  • – Key Finding #2: 85% of the companies surveyed are satisfied with their data management software.
  • – Key Finding #3: The main application areas of the tools are classic BI tasks.

BARC publishes The Data Management Survey 23, the world’s largest fact-based analysis of the market for data management software. 1,236 respondents provided detailed information on their use of software from 16 different vendors, including products from software giants such as Microsoft, Oracle and SAP, as well as tools from much smaller vendors that are less well known but in many cases provide excellent value to customers.

Meaningful comparisons of competing products

Unlike many analyst reports, The Data Management Survey 23 is not based on anecdotal reports or personal opinions, nor is it intended as a measure of market share. Instead, it is about analyzing market trends and making meaningful comparisons of competing products based on a variety of critical software and vendor-related criteria. The study also provides a detailed quantitative analysis of why customers buy data management tools, what they are used for, what problems they have with the tools, and how successful their deployments are.

Chart: Satisfaction with the use of data management tools

Figure 1: Satisfaction with the use of data management tools (n=960)
© BARC 2022

General findings

The majority of users report being “very satisfied” (38%) or “fairly satisfied” (47%) with their data management tools, confirming their added value. One in three organizations also report having no significant problems using the tools, and in general, problems are at a very low level. In fact, 39% of respondents say they would “definitely” recommend their solutions to others, and another 45% would “probably” do so.

Timm Grosser, senior analyst at BARC and co-author of the study, said: “Data management tools can help to increase flexibility in data usage and get a grip on the complexity of highly distributed data landscapes. The survey results show that most companies have recognized the added value of such tools and are using them in a beneficial way for their business.”

Which data analytics trends have the strongest impact on data management investments?

Figure 2: Which data analytics trends have the strongest impact on data management investments? (n=1,001)
© BARC 2022

 

Companies use their tools for traditional BI tasks

Looking at the tasks implemented with data management tools, there is a clear focus on business intelligence tasks. Data warehousing/BI is performed by 71% of survey respondents and data integration by 54%. The use of advanced analytics and newer concepts such as data virtualization is relatively limited.

38% of respondents say they are doing data preparation. This is notable because no specialized data preparation tools are featured in this survey. ‘Data preparation’ is defined as an iterative process that helps business users prepare data sets for exploratory analysis. Most of the tools presented in this survey are designed for technical users and provide limited interfaces for business users. However, looking at the use of this term in the broader market, a second definition emerges: it is also used to describe ETL processes. This explains the widespread use of technical tools for data preparation.

An overview of the survey results regarding 23 different data management products can be viewed here.

About the survey

The Data Management Survey 23 is an independent survey on the topic of data management in the context of BI, analytics and data strategy, in which participants can evaluate the tool they use.

The survey, conducted this year for the fourth time by BARC, examines data management products (e.g., data pipelining tools, data governance tools, data virtualization tools, data warehouses, analytic data engines, etc.) in terms of their features, application areas and usability.

The survey is conducted and published independently by BARC without third-party involvement. Business and technical users, as well as software vendors and consulting firms are invited to participate.

For more information, visit https://bi-survey.com/data-management-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 all enquiries and further information, please contact:

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

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