“There’s a global revolution under way”. That is what Forbes states in their report “Analytical Enablement: How leaders harness distributed business intelligence to drive breakthrough results“. The revolution Forbes mentions is self-service analytics.
Business leaders are done with the high costs of BI tools, the waiting periods for reports and the insufficient support to create a data-driven culture. They want analysis capabilities in the hands of those who are the closest to business: end-users. Self-service BI will help to boost accountability among the users, but also motivation to improve business performance. They will gain more clearer insights by shifting from static reports to ad-hoc analysis. These will translate into greater efectiveness in every aspect of the business.
The report goes on to prove the correlation between self-service BI tools and better business performance. According to Forbes, “The greater the degree of self-service, the more the data is shared into the hands of those who need it, the more successful the BI environment”.
Here are 10 insightful statistics from the report:
- 64% of the respondents state that self-service BI creates significant competitive advantage.
- 1/2 of the surveyed believe that self-service data analysis can bring real valuable insights.
- 73% say improving data visualisation is a strategic imperative.
- 63% of the participants believe that distributed analytics enables end-users to develop more visually interesting analysis.
- 1/3 of the respondents say that senior managers play a lead role in creating a more self-service environment.
- 64% defend that adoption depends of some combination of senior management, organic and bottom-up initiatives.
- – Respondents say that self-service is creating more value on finance (67%), sales (61%), marketing (60%) and compliance (60%).
- – For Business Leaders the biggest challenges with self-service BI are combining data from different sources (20%) and data security (14%).
- 71% of the leaders in BI implementation say that self-service BI tools tend to accelerate learning and responsiveness.
- 57% of the companies that took part in the survey plan to accelerate investment in distributed BI.
Forbes concludes the report saying that the self-service BI trend will continue gaining momentum, as more and more companies start implementing distributed analytics and putting in the hands of end-users.
Are you already using self-service BI tools?