Better business performanc eis just one of the benefits of adopting BI solutions. [shutterstock: 730273642, Ditty_about_Summer]
SAP announced findings from industry analysts reporting that enterprises are rapidly adopting business intelligence (BI) and analytics tools in the cloud.
Dresner Advisory Services, Eckerson Group, 451 Research and Ventana published research examining why cloud is vital for greater analytics and data processing.
Significantly, results from the four separate reports detailed the need for analytics to operate in a cross-organizational manner in hybrid, on-premise and cloud environments to produce faster data-driven decisions to support growing business needs.
Findings from the reports include:
- Cloud analytics and BI heighten business performance: Dresner Advisory Services, which has covered cloud computing and BI for seven years, saw a sharp positive increase in user sentiment and spend toward cloud BI in 2018.
- Adoption of cloud analytics grows across organizations: In a Ventana Research survey, nearly half of respondents said cloud analytics is important to three or more departments in their organizations. Acting as a centralized platform, cloud analytics and BI aid in bringing all these sources and systems together.
- Embedded analytics tie together data across the enterprise: In the same report, Ventana Research found that more than half (53 percent) of organizations prefer to purchase predictive analytics embedded in applications. The firm also noted that embedded analytics enables businesses to take a self-service approach to their data needs.
- Data science delivers enterprise value: Eckerson Group identified 10 key data science challenges and strategies by the stage in the data science lifecycle and presented best practices to overcome these challenges. The key is to elevate data science from a siloed practice to a systematic process across organizations and platforms.
451 Research recognizes SAP’s commitment to the cloud in its vendor report and examines the SAP Analytics Cloud solution. The report found that this offering is designed to address end-to-end analytics use cases in a single platform, catering to organizational demands from simple ad hoc analytics to more complex analysis. Today, SAP’s hybrid strategy offers organizations the flexibility and freedom to utilize a multicloud environment.
“SAP’s BI portfolio has evolved considerably in the past four years since it adopted a convergence strategy to make it easier to use and comprehend,” said Krishna Roy, 451 Research. “Positioning SAP Analytics Cloud and SAP Analytics Hub for hybrid BI makes its product family easier to understand and helps turn its hybrid vision into a reality.”