The Death of Business Intelligence

What does the growth of GIS mean for BI

Posted in Business Intelligence by TheLondonEconomic on September 2, 2013

Business Intelligence (BI) software has been used by more and more firms across the globe in the last few years as they look to get a hold on the massive amounts of data that has become available and analyse it succinctly and efficiently in order to ensure that they are making the best decisions and advancing well as a firm.

However, new technologies come around or grow all the time, and in many cases these can change the way that BI is utilised, or indeed how effective it is as a tool.

One of these has been the growth of geographical technology in the consumer market. Consumers are now able to access a range of different applications that will use satellites to show them how to get somewhere, and this is increasingly used to show the nearest and most convenient locations for them to access shops and other services.

So what does the rise of this kind of technology – Geographical information systems (GIS) – the sort of which is used in Google Maps and other apps, mean for the BI market at the current time?

According to information released by market analyst firm Pringle & Company, one of the main reasons BI is becoming popular is because of the increasing need and desire to track information, and the sheer volume of things that can be tracked.

It said that the market is set to grow exponentially over the course of the next four years from $76 billion (£48.9 billion) to around $143 billion by the year 2016.

However, the use of GIS in this equation can make it a much more worthwhile venture for companies looking to steal a further march on the opposition.

The organisation said that use of GIS with BI can mean having an unprecedented view of the business, customers, opposition and the opportunities that are inherent within.

More people now make use of mobile technology such as phones and tablets when they are out and about to help them not only work or play away from the home and office, but also to find things that they need to through maps.

The company said that making decisions based on data collected through GIS can help for the better targeting of decisions that are made and stronger visualisation, strategic planning. It also said that decisions can be made faster and more intelligently.

James Buckley, writing for Business 2 Consumer, said of the rise of GIS and its use in BI: “By combining the new consumer perspective on GIS technology with more effective tools, the revelations about business opportunities based on location aren’t happening in isolation anymore. Now, that information is easily converted to actionable insights that drive sales, IT or business development.”