We at Ventana Research recently published our research agendas for 2018. Analytics and business intelligence are evolving and so is our research on their use across practice areas. Earlier research has shown that analytics can deliver significant value to organizations; for example, our predictive analytics research shows that 57 percent of organizations reported achieving a competitive advantage and half created new revenue opportunities with predictive analytics. Waves of investment in self-service analytics have propelled the market for analytics tools, significantly empowering line-of-business organizations to create their own analytics and set their own analytic priorities. But organizations are also beginning to recognize some of the limitations of current analytics implementations – for self-service, for example. Our Data Preparation Benchmark Research reveals that fewer than half (42%) of organizations are comfortable allowing business users to work with data not prepared by IT. Our research this year will continue to explore both the successes and challenges organizations face as they continue to use analytics and BI.
This is my second analyst perspective based on our IoT Benchmark Research. In the first, I discussed the business focus of IoT applications and some of the challenges organizations are facing. Now I’ll share some of the findings about technologies used in IoT applications and the impact those technologies appear to have on the success of users’ projects.
The emerging Internet of Things (IoT) is an extension of digital connectivity to devices and sensors in homes, businesses, vehicles and potentially almost anywhere. This innovation means that virtually any device can generate and transmit data about its operations – data to which analytics can be applied to facilitate monitoring and a range of automatic functions. To do these tasks IoT requires what Ventana Research calls operational intelligence (OI), a discipline that has evolved from the capture and analysis of instrumentation, networking and machine-to-machine interactions of many types. We define operational intelligence as a set of event-centered information and analytic processes operating across an organization that enable people to use that event information to take effective actions and make optimal decisions. Ventana Research first began covering operational intelligence over a decade ago.