WHAT WE HAVE ON THIS PAGE
Business intelligence (BI) is a technology-driven process for analyzing and reporting data to help executives, managers, and other corporate decision makers make better informed decisions. BI has been around for many years, but the technology has become more sophisticated in recent years, making it possible to obtain insights from large data sets that were once unavailable.
Every day, we produce more data than ever before. According to business intelligence statistics, every business that uses market data effectively will reap the benefits. This is something that all major brands in any industry understand.
We know how important BI is to your business’s success. We have compiled a list of the most important business intelligence statistics for 2022.
Business Intelligence Statistics that will blow your mind
Here are highlights that will help you get a clearer picture of its importance:
- Globally, 26% of all companies have adopted BI.
- More than 33% large-sized companies will use decision intelligence by 2023.
- Data analytics makes decision-making 5x faster for businesses.
- After the pandemic, 50% more customers and teams will use Business Intelligence tools.
- Self-service business intelligence is essential for 60% research and the development departments.
- 67% have access business intelligence tools.
- The global market for business intelligence will reach $33.3 million in 2025.
- In 2020, most businesses adopted business intelligence.
- The top 3 business intelligence trends include data visualization, data quality control, and self-service intelligence (BI).
- Data discovery is very important for 7 of 10 business rates.
- 71% buyers prefer Microsoft Azure to be their top vendor.
- 60-73% percent of all enterprise data is not analyzed.
- Microsoft Power BI, which holds 36% of market share in 2021 is the most popular BI software.
General Business Intelligence Statistics
We give you an in-depth explanation about some key business intelligence statistics.
#1. Who’s Winning business intelligence Software Market Share currently?
- According to research done by TrustRadius, Microsoft Power BI is the most-compared BI software in 2021.
- Microsoft Power BI, the most popular BI software, is dominating in 2021. 36% of market share
- Tableau Desktop is the only command 20% of the BI market share In 2021.
- BI buyers spend the majority of their time comparing Microsoft Power BI and SAP Business Objects Platform.
#2. Covid-19 led to a higher rate of BI adoption in 2020.
Businesses are looking for new and innovative ways to keep their employees connected and productive, and BI is seen as a way to do this. BI allows employees to have access to all the data they need in one place, which can help them make better decisions. Additionally, BI can help businesses track employee performance and identify areas where improvement is needed.
According to business intelligence trends in 2020, the majority of businesses adopted online working, marketing and selling Only because of Covid. In the same year, businesses also integrated business intelligence into their operations.
Some top tools to look out for are:
- Data visualization
- Embedded analytics
- Citizen data
- Augmented analytics
- And others!
#3. Data analytics makes decision making 5x faster for businesses
In today’s business world, data analytics is essential for making quick and informed decisions. By analyzing past data, businesses can create models to help them predict future outcomes. This allows them to make decisions that are 5x faster than those made without the use of data analytics. The use of data analytics also allows businesses to identify opportunities and trends that would otherwise be missed.
#4. In 2020, 54% of organizations stated that cloud-based BI was integral to their current and future initiatives.
Cloud-based BI is becoming more vital to enterprises as they move forward with their initiatives. In 2020, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives. Enterprises are recognizing the benefits of the cloud, such as scalability, flexibility, and cost-effectiveness. Additionally, the cloud allows for real-time collaboration and data sharing. As a result, more businesses are moving to the cloud to take advantage of its benefits.
According to business intelligence technology, it has grown in popularity since 2012. It was considered vital by only 10% of business owners back then. However, this percentage has almost tripled by 2020.
Businesses have greater confidence in their systems than they did in previous years.
Cloud-based BI not only saves money but also allows for more data access (structured and unstructured). It’s not surprising that more than half of businesses appreciate cloud-based BI. Also it can be scaled easily if necessary, is highly reliable and offers greater security than physical servers.
#5. In 2020, the United States had a shortage of 250,000 people with analytical data skills.
The United States had a shortage of 250,000 people with analytical data skills in 2020. This number is based on the projected number of jobs in the country that will require these skills, which is estimated to be around 1.5 million. The demand for people with these skills will continue to grow as businesses increasingly rely on data to make informed decisions.
#6. The demand for data engineers is expected to grow at a rate 50% per year.
In recent years, the demand for data engineers has exploded. This is largely due to the growth of big data/BI and the need for professionals who can manage and analyze large datasets. The demand for data engineers is projected to grow at a rate of 50% annually, making it one of the fastest-growing job markets in the country. Companies are increasingly looking for data engineers who have the skills to not only manage and analyze data, but also build and maintain big data systems.
#7. One third of large-scale companies will use decision intelligence by 2023.
- In a recent study, it was found that one-third of large-scale organizations will adopt decision intelligence by 2023.
- The study also found that the number one reason for adopting decision intelligence is to improve decision making.
- Other reasons for adoption include reducing costs, improving customer service, and increasing revenue.
- Decision intelligence is a process that helps organizations make better decisions by using data and analytics.
- Decision intelligence (DI) is a term that is used to describe the ability of organizations to make better decisions through the use of data and analytics.
- DI is a growing field, and many organizations are starting to adopt it in order to make better decisions.
#8. 70% Of organizations believe data visualization and discovery are essential
Data visualization statistics for 2021 show that 3/4 of business owners consider it very serious.
Here’s why: It helps to simplify complex data through the use of infographics, graphs, charts and maps. This makes it easier to identify trends, patterns, data relationships, and other information essential for decision making.
#9. The major industries using cloud business intelligence today are financial institutions, retail companies and higher education.
- Record-keeping organizations are the major industries leveraging cloud business intelligence today.
- Financial institutions, higher education, retail companies, and other record-keepers are turning to the cloud to improve their decision-making abilities.
- Cloud BI provides these organizations with the ability to access data from anywhere at any time.
- This allows them to make better decisions and stay ahead of the competition.
Business Intelligence Usage Statistics
#10. The US economy loses more than $100 billion annually due to lack of data literacy
In today’s world, data is everywhere. It is collected and used by businesses and governments to make informed decisions and drive results. However, a lack of data literacy means that a large portion of the US economy is losing out on opportunities to grow and improve. A recent study found that the US economy loses more than $100 billion annually due to a lack of data literacy. This number is only going to increase as data becomes more and more ubiquitous.
#11. 49% employees said that analytics are more or more important than ever.
According to a survey from Accenture, 49% of employees believe that analytics are more or more important than ever. The study also found that 78% of respondents believe that data and analytics are critical to their success in their role. This is likely due to the fact that businesses are collecting more data than ever before. As a result, it is becoming increasingly important for employees to be able to make sense of this data and use it to make better decisions.
#12. 60-73% is the average of enterprise data that has never been analyzed.
60-73% is the average of enterprise data that has never been analyzed. What could this mean for your business? According to Accenture, this untapped data represents a “$2 trillion opportunity.” The study also found that 60% of organizations believe they are not making full use of their data, and 73% of all data is never analyzed.
#13. Only 32% of business executives were able to generate measurable value out of data.
A recent study conducted by Accenture found that only 32% of business executives were able to generate measurable value out of data. The study also found that executives struggle to find the time and resources needed to make data-driven decisions. While 93% of executives believe that data is critical to their success, only 38% are able to effectively use data analytics.
#14. Only 27% of business executives claimed that their data and analytics projects provide actionable insights.
Only 27% of business executives claimed that their data and analytics projects provide actionable insights, according to a study by Accenture. The study also found that only 26% of respondents said they were successful in converting data into insights. These findings suggest that businesses may not be taking full advantage of data and analytics projects.
Limitations of Employee Data Literacy
#15. 21% of global workers are confident in their data literacy skills.
The study by Accenture, found that 21% of the global workforce feel confident in their data literacy skills. This number is concerning, as data literacy skills are becoming increasingly important in the workplace. Those who are confident in their data skills are more likely to be able to find and use information effectively to make decisions. Without these skills, employees may be at a disadvantage when competing for jobs or promotions.
#16. 74% of employees feel overwhelmed or unhappy working with data.
The study found that 74% of employees feel overwhelmed or unhappy when working with data. This could be due to the vastness of data, the complexity of data, or the time pressure employees feel when working with data.
#17. 14% of employees feel overwhelmed working with data at work at least once a day.
At least once a day, 14% of employees feel overwhelmed by the amount of data they have to deal with at work.
#18. 48% of employees feel overwhelmed when working with data at the least once per week.
The study found that 48% of employees feel overwhelmed when working with data at least once per week. This could be due to the fact that there is so much data to manage and it is constantly changing. Additionally, employees may feel overwhelmed when trying to make sense of the data and find trends.
#19. Accounting for data-induced procrastination or sick leave due stress resulting in information, technology and data issues can result in a loss of approximately five working days per employee.
Shocking Problems with Business Intelligence
#20. 34% of BI companies consider poor data quality a major problem for their customers. This belief is shared by only 11% of BI customers.
#21. 16% BI customers consider slow query performance a major problem. 11% of BI Vendors believe this to be an issue for their customers.
#22. 39% users find no major problems with their BI software. 22% of vendors expect no major issues for users.
#23. 21% of BI companies worry about poor data governance as a major problem for their customers. 12% are concerned about this issue.
Business Intelligence Market Size
Statistics for business intelligence show that the BI market has a value of billions. It is expected to continue growing in the long-term. Below is a list of BI services as well as their market value.
#24. Global Business Intelligence market will grow with CAGR of 7.6% During Forecast
MnM predicts that the global Business Intelligence market will grow from USD 23.1 billion in 2020 to USD 33.3 billion by 2025 at a Compound Annual growth Rate (CAGR), of 7.6% over the forecast period. The market is impacted by the COVID-19 pandemic and is anticipated to experience stagnation.
#25. Asia Pacific to grow at the highest CAGR during the forecast period
The highest projected CAGR for APAC during the forecast period is due to the increased adoption of advanced technologies and the commercialization IoT technology in countries like China, Japan and India. These are driving the demand for business intelligence services and solutions.
#26. The fastest-growing segment of BI is cloud-based BI.
According to statistics on business intelligence, the market for cloud-based BI was worth $750 millions in 2013. Its value has risen almost four-fold to $2.94B by the end of 2018.
#27. IBM (US), Oracle (US), Microsoft (US), SAP (Germany), SAS (US), Google (US) are the key Market Players:
Major vendors in the global market for business intelligence include IBM (US), Oracle, Microsoft IBM (US), Oracle (US), Microsoft (US), AWS (US), Salesforce (US), MicroStrategy (US), Teradata (US), DOMO (US), TIBCO (US), Information Builders (US), Sisense (US), SAP (Germany), SAS (US), Google (US), Yellofin (Australia), Qlik (US), Board International (Switzerland), Infor (US), Dundas (Canada), Targit (Denmark), Zoho (India), Vphrase (India), dotdata (US), Amlgo Labs (India), Pentation Analytics (India), Hitachi Vantara (US), Outlier (US), ConverSight AI (US), Element Data(US) and Alteryx (US).
#28. By 2023, the mobile intelligence market could be worth $16 billion.
The market for mobile business intelligence was valued at $4.103 billion in 2016, according to statistics. It hit $5.03 billion in 2017. It is expected that it will grow at a Compound Annual Growth Rate (CAGR) 21.6% until 2023.
#29. Size of the business intelligence and analytics software application market worldwide, from 2019 to 2025(in million U.S. dollars) – Source Statista
According to Statista, Globally, the market for business intelligence and analytical software applications will grow from 15.2 billion U.S. Dollars in 2020 to more that 18 billion by 2025. The market for business intelligence and analytics applications is one subsegment within the enterprise software market. Enterprise software – A market with worldwide revenues in excess of 212 billion U.S. Dollars in 2020 – aims to meet the needs of companies.
BREXIT – Impact on Business Intelligence
#30. Impact Area: IT Service Providers and Buyers
- The billing rates of external consultants are directly affected when there is a shortage in talent for specific skills related to application development and maintenance.
- Due to the lack of science and math graduates in the UK, many technology startups in UK employ people from EU countries.
#31. Impact Area: SaaS Service Providers
- The UK continues to be a major destination for EU-based data centers. Despite Britain’s exit from the EU in May 2018, UK companies must still adhere to the EU General Data Protection Regulations, (GDPR), which took effect on May 2018.
- UK companies handling EU data must comply with stricter GDPR regulations than local regulations. This is expected to increase compliance costs.
Business Intelligence Adoption Statistics
#32. 3/4 BI software purchasers rate Microsoft Azure the top vendor.
According to business intelligence stats, 71% of customers think Microsoft Azure one of the most reliable vendors. Amazon Web Services ranks second with 33% and Google Cloud comes in third with 22%.
Microsoft is everyone’s favorite computer company. It is affordable for cloud storage. It also features top-quality data analysis tools.
#33. 8 in 10 manufacturers that use BI for analytics have seen it work successfully.
According to business intelligence usage statistics, 89% of manufacturers with BI and analytics initiatives say they work. The technology’s utilization in the industry has put them ahead of the curve than peers in other sectors.
#34. North America has 29% commitment to cloud usage
Cloud BI is 10% more popular in Europe than it is in North America. 34% of companies in Mexico, Canada, Greenland and the US use cloud BI fully or partially, compared to 24% in Europe.
#35. 90% Of sales and marketing departments cite BI to be a key tool in getting their work done efficiently.
Before big data, marketing and sales were always data-driven processes in any company. BI has made decision-making faster, easier, and more insightful. Sales teams can track the top-selling products and marketing teams can see which channels are bringing in most traffic.
Business Intelligence Jobs Statistics
#36. In 2020, there were 2.72 million jobs that required data science and analysis skills.
Statistics on the future business intelligence show that there were only around 364,000 data science-related job opportunities in 2018. This number almost reached 2.72 million in 2020, a significant increase.
#37. 34% of Business Intelligence Analysts are women, compared to 59.5% who are men.
#38. Gender Pay Gap For Business Intelligence Analyst – Women Earn 96¢ For Every $1 Earned By Men
#39. 69% directors have adopted digital business quickly.
Many organizations saw 2020 as a pivotal year in their processes, from customer service to marketing to sales. Nearly 70% of business leaders have increased their efforts to implement digital operations by 2021 in order to survive in a difficult environment.
#40. Dark data is used by 55% of businesses.
Many organizations have data. But, shockingly, more than half don’t use it to analyze it. This is alarming, considering that analytics is crucial in decision-making.
#41. Only 32% of executives believe they can extract useful value from data.
According to data literacy statistics for 2021, 75% lack data literacy. They don’t know enough about organizational figures to be able to extract meaningful information. To clarify, out of the 32%, only 27% say that they can make actionable insights from their analytical efforts.
#42. Business Intelligence Analyst Male to Female Ratio
To see the gender differences in this job title, we compared it with other job titles. You can see that Senior Data Center Engineers and Senior Windows Engineers have the largest differences in gender.
#43. AVERAGE AGE OF A BUSINESS INTELLIGENCE ANALYST
Based on gender and ethnicity, Zippia calculated the average age for Business Intelligence Analysts.
According to business intelligence statistics, we produce a lot of data every day. All of this can be analyzed and used for marketable information. This information will invariably lead to business growth. Business intelligence is a great tool. Businesses can use BI to provide a variety of tools that enable the efficient utilization of data. They can thus gain an advantage in a highly competitive marketplace.
Are you able to harness the power of business intelligence in your business?
Sources and References:
Forbes, Dresner, Information Week, Gartner, Nix Solutions, Enterprisers Project, BI-Survey, Accenture, Statista, BI-Survey, Analytics Insight, Better Buys, Finances Online, Business 2 Community, Glass Door, Server Space, Dresner Advisory Services, Gartner, Yellow Fin BI, 360Suite, Sisense, TrustRadius and Zippia
What is Statistics in Business Intelligence?
Statistics analysis is the science and art of gathering, exploring and presenting large quantities of data in order to uncover underlying patterns or trends.
What Percentage of Companies Use Business Intelligence?
52% of software companies and 50% of finance companies use BI and analytics to identify new revenue streams which is key to growing the business.
Is Business Intelligence a Growing Field?
The field has huge potential, and according to reports that employment is projected to grow by 14% between 2020 and 2030. This is higher than average for other careers.
How Big is the Business Intelligence Market?
According to the report, the Global Business Intelligence Market was worth USD 22.16 billion in 2020. It is projected to grow at an annual CAGR of 8.6% between 2021-2028.
Does Business Intelligence Need Coding?
Coding is required for Business Intelligence (BI), in order to process data and produce useful insights. Coding is required in the data modeling, warehousing and other stages of the BI project’s lifecycle. Coding is not necessary for the rest of the BI project lifecycle. With some programming experience, anyone can begin a career as a BI professional.
What is the Future of Business Intelligence?
The future of business intelligence will likely be automated, more efficient and highly utilized. There will be fewer interface limitations and data flow bottlenecks. Future BI trends are part of a constantly evolving model that is crucial to the advancement of modern businesses.
Barry is a lover of everything technology. Figuring out how the software works and creating content to shed more light on the value it offers users is his favorite pastime. When not evaluating apps or programs, he’s busy trying out new healthy recipes, doing yoga, meditating, or taking nature walks with his little one.