Drivers of Change
We are all used to the predictions made by the IT industry of this year’s hot new technology. Yet when looking back at the list of once bright IT hopefuls, many of these have faded faster than the shining star that was X Factor’s winner last year. So why should Business Intelligence, which has been included in many such a techno-fashionista’s list, be any different?
Having been around for almost 20 years, Business Intelligence is a somewhat unlikely candidate for the next IT rocket ship. But regardless of this fact, sales of BI software have been steadily rising. In this section we examine how the rise of Business Intelligence is not due to solely to the next season’s collection affect, but a combination of associated technological advances, economic conditions and scientific research into human cognition.
The pressure as a result of the recent economic climate has impacted companies in different ways. Most have had to cut costs through a combination of headcount reduction and the search for efficiencies in how they manage their operations - process redesign and the use of technology for example. Then there are the brave few who have viewed the downturn as the onset of new opportunity. What manages to unite all of these different approaches though is the need for better and faster information by which to fuel badly needed decisions.
A downturn in the economic cycle brings a starkness and clarity to business that is somehow absent when times are good. And without doubt, the focus brought on by the impact of the 2007/8 credit crunch is one of the major drivers for the growth in Business Intelligence. Some suggest that BI might just be a comfort in tough times. In our opinion however, the lesson learned about possessing access to good data by which to make the best decisions, has such a compelling affect that it is not one that can be easily forgotten.There are a number of other drivers that have brought Business Intelligence both a revival in vigour and a wider audience. To get a more detailed understanding of these points, select from the 'Drivers of Change' pulldown list in the menu above.