17 Statistics Forecasting the Future of Business Intelligence in the Cloud

Source – business2community.com

As once common objections and concerns around moving to the cloud (such as security) begin to wane, organizations are identifying and prioritizing their IT and business initiatives that might benefit most from a cloud deployment. Business intelligence and analytics is one of those key initiatives. Within the next few years, it is predicted that cloud will be the preferred delivery mechanism for analytics. But many organizations are already there. In a Deloitte, EMA and Informatica State of Cloud Analytics Report survey, 70.1% of the respondents say cloud is already an essential part of their analytics strategy.

Does the forecast call for greater cloud coverage in enterprise analytics? See what’s trending now and what’s in store:

• Enterprise cloud spending will grow at a 16% compound annual growth (CAGR) run rate between 2016 and 2026. – Wikibon 2017 True Private Cloud Forecast and Market Shares
• Adoption of the cloud BI solutions has grown 50% in the past three years, from 29% to 43%. – BARC Research and Eckerson Group Study, BI and Data Management in the Cloud: Issues and Trends 2017
• By 2020, more than $1 trillion in IT spending will be directly or indirectly affected by the shift to cloud. – Gartner Market Insight: Cloud Shift — The Transition of IT Spending from Traditional Systems to Cloud
• By 2020, anything other than a cloud-only strategy for new IT initiatives will require justification at more than 30% of large-enterprise organizations. – Gartner Predicts 2017: Cloud Computing Enters Its Second Decade
• By 2021, more than half of global enterprises already using cloud today will adopt an all-in cloud strategy. – Gartner Predicts 2017: Cloud Computing Enters Its Second Decade
• CIOs are prioritizing (1) security, (2) cloud computing and (3) big data analytics and mobile in their 2017 IT budgets. – Nomura Holdings CIO Survey Research
• 74% of Tech Chief Financial Officers (CFOs) say cloud computing will have the most measurable impact on their business in 2017. – 2017 BDO Technology Outlook Survey
• Three top reasons CIOs are adopting cloud computing are to (1) improve agility and responsiveness, (2) accelerate product development and innovation and (3) to save money. – KPMG Journey to the Cloud, The Creative CIO Agenda
• Twenty-nine percent of CIOs say that data center modernization is their top reason for adopting cloud computing. – KPMG Journey to the Cloud, The Creative CIO Agenda
• Enhancing business processes (23.5%), improving customer experience (22.2%), and better collaboration (19.1%) are the top three business drivers of cloud analytics adoption today. – Deloitte, EMA and Informatica State of Cloud Analytics Report
• Cloud is an essential part of the analytics strategy of 70.1% organizations; 21.6% state that it is necessary as part of their analytics adoption. – Deloitte, EMA and Informatica State of Cloud Analytics Report
• Reducing costs (19.5%), data security (15.1%) and collaboration (14.4%) are the top three technical factors driving cloud analytics. – Deloitte, EMA and Informatica State of Cloud Analytics Report
• Nearly 50% of executive management teams see Cloud BI as critical and very important to their information needs. – 2017 Cloud Computing and Business Intelligence Market Study – Dresner Advisory Services
• Financial services, higher education, business services and retail are the four industries placing the greatest importance on cloud BI today. – 2017 Cloud Computing and Business Intelligence Market Study – Dresner Advisory Services
• Dashboard-based reporting (76%), ad-hoc analysis and exploration (57%) and dashboard authoring (55%) are the top three cloud BI use cases. – BARC Research and Eckerson Group Study, BI and Data Management in the Cloud: Issues and Trends 2017
• Top planned investments in the coming year for cloud BI include advanced and predictive analytics (53%), operational planning and forecasting (44%) and strategic planning and simulation (44%) – BARC Research and Eckerson Group Study, BI and Data Management in the Cloud: Issues and Trends 2017
• In the coming year, 69% of companies plan to increase their use of cloud BI, and more than one quarter of companies that haven’t implemented cloud BI say they will do so. – BARC Research and Eckerson Group Study, BI and Data Management in the Cloud: Issues and Trends 2017