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Leading Analyst Firm Calls Business Analytics Key to "Decision-Centric" Business Intelligence

Publish Date : 2/20/2007 8:51:00 AM Source : Investments and Finance News Onlypunjab.com

A recent report from IDC, "The Latest Trends in the Business Analytics Market," * outlines significant growth in the market for business analytics and defines its critical role in offering "essential guidance" to business users. Enterprise customers of Spotfire, a leading provider of enterprise analytics software, echo the report's sentiments that business analytics software is the key element of a "decision-centric" approach to business intelligence.
IDC defines business analytics (BA) as "a superset software category that includes tools and applications for tracking, storing, analyzing, modeling, and delivering data in support of automating decision-making and reporting processes. This software market includes both application development tools and packaged analytic applications."

Recent research from IDC states that the market for business analytics software will grow at a rate of more than 10 percent in the next twelve months; in fact, enterprise IT buyers surveyed pegged business analytics software as a "Top 2" pressing technology need, along with enterprise security.

Enter BI 2.0: "Decision-Centric Business Intelligence"

While serving such traditional business intelligence needs as tracking, integration, and delivery of information through reports and dashboards, BA is also the cornerstone for the newly-emerging "decision-centric business intelligence"--in some circles, also known as "BI 2.0." The next generation of business intelligence moves users beyond reporting to include the contextual delivery of business data at the point a business decision must be made within a business process.

According to Brian McDonough, Research Manager at IDC, "Decision-centric BI focuses on decision support (rather than simply information delivery) and requires support from advanced analytic tools … [Customers interested in providing decision-centric BI solutions to their employees should consider deploying advanced analytics functionality to solve specific business problems. Vendors are more rapidly expanding their decision-centric BA capabilities as they seek to capitalize on the next wave of opportunities in the market. "

"Spotfire has been critical player in the industry dialogue around BI 2.0 and the need to move business intelligence beyond data warehouses, queries and reports controlled by IT, and create a new business intelligence where the focus is on people, not data," said Christopher Ahlberg, Spotfire"s CEO. "It's about business users being able to talk to their data, and have their data talk back, with specific recommendations around critical business decisions. Spotfire has been providing 'decision-centric' business intelligence for a long time; I'm glad IDC has given what we've been doing such an appropriate name."

Spotfire: Making Decision-Centric Business Intelligence a Reality

Spotfire customers have been early-adopters of the newly-coined "decision-centric business intelligence." More recently, the company's Spotfire DXP TM business analytics platform and its Spotfire DXP Enterprise Player have placed analytics on the front lines of business. The Spotfire DXP family echoes IDC's recommendation that business analytic solutions must move "out of the IT domain and into the business domain."

Spotfire DXP goes beyond dashboards, reports and business intelligence systems to provide a fully visual, interactive approach to data analysis, arming business professionals with an easy to use, self-service environment where they can discover new insights and address emerging threats. The Spotfire DXP Enterprise Player enables enterprises to easily deploy analysis applications and workflows to decision-makers throughout the organization, delivering information insights to a broader base of business professionals.

The IDC report, authored by Brian McDonough and Dan Vesset, can be purchased from http://www.idc.com/.

About Spotfire
Spotfire, the Information Insight CompanySM, is a leading provider of enterprise analytics software that helps professionals quickly discover new and actionable insights in information. For thousands of business professionals faced with day-to-day decisions, Spotfire offers a visual and interactive analytics experience that helps them make decisions with speed and confidence. Distinguished by its ease of use and analytic power, Spotfire software rapidly reveals unseen threats and illuminates new opportunities, creating significant economic value. Spotfire's customers include industry leaders among the Global 2000 that have deployed Spotfire analytics to gain an information advantage over their competitors. For more information, visit http://www.spotfire.com/.

* IDC, The Latest Trends in the Business Analytics Market, Doc #204426, Dec 2006

Spotfire and Spotfire DXP are trademarks or registered trademarks of Spotfire, Inc., except in the European Community where Spotfire and Spotfire DXP are trademarks of Spotfire AB. The Information Insight Company is a service mark of Spotfire, Inc. Other company or product names may be the trademarks of their respective owners.

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