Analytics by industry in 2014

The 2013 Wisdom of Crowds Business Intelligence Market Study, by Dresner Advisory Services (DAS), dissects the Business Intelligence (BI) market to provide key insights into the changing realm of “Business Intelligence”.

The DAS study measures the adoption rate among 5 key industries and details where they are forecasted to be in 2014 in terms of BI. More organisations are expected to invest in developing their BI capabilities and certainly competition with industries is forcing late adopters into catchup mode.

According to the DAS study BI is pervasive across all industries already – but more prevalent in some than others. Further inspection reveals that current penetration is somewhat limited, however, BI expansion throughout 2014 is predicted to bridge the gap between intent and action.

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BI initiatives by industry

When examining employee access to by BI by industry, certain sectors prove to be more established than others.

Of course the financial services are leading the way, with almost 17% of the industry classified as having 81% or more employees using BI. The financial services level of penetration comes as no surprise as the industry has traditionally pursued BI emphatically, being the most consistent investor.

Most recently adoption rates have increased tremendously within the health care industry, with 12% of respondents stating 81% of users had access to BI.

We can reasonably assume this trend is attributed to an increased focus on emergency, surgical and pharmaceutical analytics. Likewise insights can now be drawn from physician quality and patient outcomes, driving BI within the sector.

Despite the strong example set by the financial and healthcare industries, access to BI is still relatively limited. Across all industries, in excess of 30% of respondents stated less than 10% of users had access to BI.

This restricted access has been attributed to several factors including: financial constraints, user resistance and organizations inability to adapt and act upon BI insights.

2014 BI plans

Following the positive trend for BI growth, the breakdown by individual sector indicates that growth between industries is less consistent.

The most expansive plans belong to the financial, healthcare, education, retail and wholesale sectors. With the health care sector planning to extend its penetration as 50% of respondents reported more than 21% of users would have access to BI.

Conversely, government and manufacturing penetration plans do not have the same aggressive intent. With BI access considerably limited in comparison to other industries, as nearly 10% of participants citing less than 10% of users with access.

The wisdom of crowds survey continues to expand in the level of analysis undertaken and the total participants surveyed, making the study bigger and better in 2013.

From the report we can identify the level of adoption being particularly high among the financial services, and Retail and wholesale. Additionally, the plans for 2014 look to reaffirm these industries as the key players within BI, while government and manufacturing continue to lag behind.