As digital businesses thrive and grow, the firms that want to remain competitive will need more than traditional bare-bones analytics solutions. They will need to find solutions that offer a robust set of functionalities, while also ensuring their analytics/business intelligence (BI) processes are secure, easy to use and simple to acquire.
In a recent study, Forrester found that insights-driven businesses are 39% more likely to repeat year-over-year revenue growth of 15% or more.
Key findings from the Forrester study:
- Nearly all companies, to varying extents, are taking a hybrid cloud approach to business analytic and BI and data processing.
- Hybrid cloud strategies enable companies to put data insights to greater use by increasing analytics/BI user adoption and leveraging on-premises investments and data to help drive business improvements and revenue growth.
- Cloud BI and business analytics deployments offer solutions to several primary concerns companies have about their analytics/BI maturity (e.g., inability to keep up with tech innovation and unpredictable data growth).
- Improving analytics maturity is about making analytics more actionable (i.e., embedded within business processes) and accessible across the business.
For more insights, download the Forrester study, Improving Business Performance by Closing BI Maturity Gaps with Hybrid Cloud Deployments.