Big Data and Business Intelligence in a Clash
Bangalore: Even though some of the software products of traditional BI like SaaS have gained immense popularity, it has not been able to compete with the latest big data products. The IDC report says that by 2016 the Business Intelligence and Analytics market will grow by almost double annually.
BizTech Reports, a survey conducted by an independent research agency on 120 IT and Business executives throughout Europe, USA and Canada found that the present BI software are unable to meet the current demands of the reporting and analytics marketplace because these products and implemented service models are very costly, large and unmanageable.
On the other hand, Big Data Analytics has been able to overtake the traditional Business Intelligence products which use (ETL) data integration, relational data warehousing and are generally too slow. In fact, Traditional BI may not be best equipped to deal with Big Data. Dick Weisinger, Vice President and Chief technologist, Formtek wrote on formtek.com that the change in BI and Analytics market is on Gartner's radar. He sees that the BI market is ‘bifurcating’ into two groups: the traditional enterprise BI tools and a new Big Data analytics which Gartner calls ‘Data Discovery Platform’.
President of market research firm, Apps Run the World, Albert Pang stated on Yellowfinbi.com, "The emergence and convergence of the ‘Big Data’ phenomenon has led to enormous data aggregation requirements for multiple business purposes. The issue is that the past generation of analytic solutions, like Hyperion, Cognos and others, are very good at addressing the Big Data needs, particularly for complex financial consolidation and reporting needs. But today, business is operating at a faster pace than ever before, and analysis and decision-making requirements have been pushed into every department at every level of user- managerial or not. The large footprints and complexities of these unwieldy analytics software solutions aren’t well suited for these types of smaller, faster needs".
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