Data Analytics and cloud computing are both topics that have received a lot of recent press however early adoption of cloud solutions within the analytics market was initially slower than cloud adoption in other sectors. The latest research from Saugatuck Technology suggests this is no longer the case. In fact the trend appears to have switched to the other end of the scale and cloud analytics is one of the fastest growing sectors. According to the survey 13% of companies worldwide have a cloud based analytics / BI solution in place. The survey included enterprises of all sizes and all industries worldwide. While the cloud BI market is currently relatively small, this figure is set to rocket to 44% in 2013, an 84% compound annual growth rate. This makes cloud BI one of the fastest growing Cloud based business management solutions through 2013.
The analytics market, cloud or otherwise is one which is growing even when IT budgets are not. Saugatuck Technology put this down to the “recognizable business results for its users”. The survey has already been picked up by Joe McKendrick for Forbes commenting “ [BI] helps provide data-driven clarity and some predictability in market trends, and therefore quickly pays for itself”.
However while BI has long been proven to provide ROI, enterprise solutions require lots of infrastructure and are expensive. And this according to Saugatuck Technology this is why SaaS BI adoption is set to surge in 2013 ;
“Continuing economic uncertainty and a focus by business leaders on low-cost, high-impact, measurable business improvement resulting focus by IT leaders on cost-effective, scalable, and quickly-implemented Cloud-based solutions.”
This seems to confirm research from Gartner earlier this year that worldwide spending on the public cloud was set to double by 2016. Still not convinced... earlier this month we gave our own arguement why now was the time to start using a cloud BI solution, 7 reasons to choose a SaaS BI solution.
Joe McKendrick also mentions the other 'big' issue of the moment, Big Data (excuse the pun). With companies of all sizes now facing large amounts and importantly a large variety of data many companies are not in a position to be hiring data scientists to help deal with their data problem. Again the cloud has an answer, Google BigQuery. Google BigQuery offers an analytical database as a service that scales to petabytes of data. It means companies that previously would have needed very large infrastructure and an operational team can now analyze their data with only - and we mean it - a web browser.
So now is the time to lift your analytics to the clouds, try out BIME SaaS BI today with our 10 day free trial.