First Place Ranking for TIBCO in Dresner Advanced and Predictive Analytics Market Study
Blog: The Tibco Blog
The idiom “embarrassment of riches” comes to mind this week as TIBCO receives a first place ranking in the 2017 Edition of the Advanced and Predictive Analytics Market Study published by Dresner Advisory Services, LLC. This honor comes on the heels of the recently published Wisdom of Crowds® Business Intelligence and Enterprise Planning Market Studies published by Dresner where TIBCO was identified as a customer experience, value, technology, and credibility leader. Read this recent announcement.
This fourth annual report on the advanced and predictive analytics market is part of the Dresner Wisdom of Crowds series that started in 2010. In this newest report, Howard Dresner and his team identify how user perceptions are evolving, as well as current and future industry capabilities across the market are changing. As part of the research methodology, 17 advanced and predictive analytics vendors were evaluated and compared on a variety of metrics to determine their ranking. TIBCO was awarded a first place position based on this evaluation.
Adoption and growth
Dresner’s research highlighted some compelling metrics on growth and adoption of advanced and predictive analytics across the industry. Of organizations surveyed in the report, 39% are already using or evaluating these analytic technologies with 35% of respondents indicating that this technology is in their future plans. I’m not surprised that nearly 75% of the companies responding identify advanced analytics as a strategic technology; advanced and predictive analytics aren’t new ideas but its strategic importance in enterprise-wide strategies has been renewed over the past few years for a variety of reasons. There are four significant drivers at work that are forcing companies to refine their strategies and look at advanced analytics through a filter of innovation.
1. Wider, more diverse community of users—More people are demanding analytic insights to drive the business. BI experts, data scientists, line-of-business professionals, and citizen data scientists are all demanding access to greater insights.
2. Technology innovation—Analytic platforms are moving faster, are more fully featured, and are providing deeper insights than ever before. Best-of-breed solutions are open and offer wider feature sets that scale analytics across an organization.
3. Economic impact—Open source solutions and technology are spurring change in the market and enabling innovation while reducing the cost of analytics.
4. Data, data, data—Big data revolutions have enabled companies to capture insights across their entire ecosystem, enhancing analytics with greater value and using all their critical data.
When you stand back and review all four of these drivers it’s easy to understand why so many companies are addressing advanced analytics and making it part of their innovation strategy. Dresner specifically called this opportunity out in his research, focusing on the logical growth in companies from BI to advanced and predictive insights.
“Organizations view advanced and predictive analytics as an extension of their existing BI efforts, and these users are confident in their BI execution and ability to act on data”, said Howard Dresner, founder and chief research office at Dresner Advisory Services. “We see advanced and predictive analytics as an essential ingredient to any business intelligence strategy”. [1]
I agree with Dresner and team, advanced and predictive insights are quickly extending the foundation of companies’ business intelligence investments and represent an opportunity to be competitive in a smart way. Building on BI success is a logical onramp to adding advanced and predictive insights to already successful BI strategy, in fact as Howard Dresner mentions; it’s essential.
[1] Dresner Quote, 08/31/2017 http://www.marketwired.com/press-release/dresner-advisory-services-publishes-2017-advanced-predictive-analytics-market-study-2232117.htm
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