From marketing and sales to product and operations, every team would like a hand in business intelligence.
Being able to gather and visualize business data can reveal pain points, but also growth opportunities. Business intelligence ensures crucial decisions made within the company are validated by data. With the right business intelligence strategy, this can be game-changing for a company.
But don’t just take our word for it, check out our compilation of 30 business intelligence statistics for data-driven companies.
See a stat category you like? Feel free to jump ahead:
- Top business intelligence statistics
- Business intelligence job market statistics
- Cloud business intelligence statistics
- Self-service business intelligence statistics
- Business intelligence trends
- The global business intelligence market is expected to grow from $15.64 billion in 2016 to $29.48 billion by 2022, with a CAGR of 11.1% (Reuters, 2017).
- Executive management, operations, and sales teams are the main drivers of business intelligence in organizations (Forbes, 2018).
- Sales, marketing, and executive teams have the highest interests in advanced dashboards and visualizations (Forbes, 2018).
- Dashboards, reporting, and self-service business intelligence are the three most important use cases of business intelligence today (Forbes, 2018).
- Insurance, technology, and business services are the three industries with the highest rate of business intelligence adoption today (Forbes, 2018).
- Small organizations of up to 100 employees had the highest rate of business intelligence penetration last year (Forbes, 2018).
- Usability, product quality, and reliability have reached an all-time high for business intelligence software (Forbes, 2018).
- 90% of large global organizations will have a Chief Data Officer (CDO) by the end of 2019 (Raconteur, 2018).
- Up to 2.72 million jobs requiring data science skills will be posted by 2020, making it one of the highest-demand roles today (IBM Quant Crunch, 2017).
- Although, a massive shortage of employees with data science skills in every major U.S. city makes hiring for these roles much more difficult (LinkedIn, 2018).
- Big data exerts pressure on the market, with 85% of business leaders saying big data will dramatically change the way they do business (Forbes, 2015).
- Managers may be overestimating their data literacy skills, with only 8% saying they’re not data literate themselves (Passionned Group, 2019).
- Financial services, business services, higher education, and retail are the four industries placing the greatest importance on cloud business intelligence today (Dresner Advisory, 2017).
- Dashboard reporting (76%), ad-hoc analysis (57%), and dashboard authoring (55%) are the top cloud business intelligence use cases today (BARC Research and Eckerson Group Study, 2017).
- In the coming years, 69% of companies plan on increasing their cloud business intelligence usage (BARC Research and Eckerson Group Study, 2017).
- Almost half of executive management teams see cloud business intelligence as “critical” and “very important” for supporting their information needs (Dresner Advisory, 2017).
- 74% of Tech Chief Financial Officers (CFOs) say cloud computing will have the most measurable impact on their business (BDO Technology, 2017).
- 70.1% of organizations say cloud is an essential part of their analytics strategy, with 21.6% saying it’s necessary for analytics adoption (Deloitte, EMA, and Informatica joint study, 2016).
- 64% of business leaders say self-service business intelligence creates significant competitive advantage (Forbes Insights & Qlik, 2016).
- Respondents in the same survey say self-service tools are creating the most value in finance (67%), sales (61%), marketing (60%), and compliance (60%) (Forbes Insights & Qlik, 2016).
- Half the respondents believe self-service data analysis can bring about valuable insights (Forbes Insights & Qlik, 2016).
- 63% of the respondents said distributed analytics enables users within organizations to develop more visually interesting analysis (Forbes Insights & Qlik, 2016).
- The biggest challenges with self-service business intelligence are combining data from different sources (20%) and ensuring data security (14%) (Forbes Insights & Qlik, 2016).
- 71% of business leaders say self-service options tend to accelerate learning and responsiveness in their organizations (Forbes Insights & Qlik, 2016).
- Data quality/management, data discovery/visualization, and self-service business intelligence are the top three most important trends in 2019 (BI Survey, 2019).
- IoT data analytics is seen as the least important trend, for now, when it comes to business intelligence (BI Survey, 2019).
- Real-time analytics and mobile business intelligence are seeing downward trends from previous years (BI Survey, 2019).
- Integration platforms for business intelligence and project management tools saw the sharpest downward trend from 5.8 to 5.0 (BI Survey, 2019).
- With such a focus on GDPR, data governance has become a top priority for companies using business intelligence (BI Survey, 2019).
- Establishing a data-driven culture is the fifth most important business intelligence trend in 2019, shedding light on the importance of getting buy-in from stakeholders (BI Survey, 2019).
Want to see business intelligence done right?
The stats and trends don’t lie. Business intelligence may be evolving as big data becomes more prominent and new technologies emerge, but it’s still just as vital to a company’s success as it was a few years ago.
For those interested in learning more about how business intelligence is applied, we asked six leaders to provide us with some real-world examples of business intelligence done right.