{"id":354,"date":"2023-04-11T09:16:05","date_gmt":"2023-04-11T09:16:05","guid":{"rendered":"https:\/\/dataprot.net\/?p=354"},"modified":"2024-02-06T13:51:40","modified_gmt":"2024-02-06T13:51:40","slug":"business-intelligence-statistics","status":"publish","type":"post","link":"https:\/\/dataprot.net\/statistics\/business-intelligence-statistics\/","title":{"rendered":"Business Intelligence Statistics: State of the Market in 2024"},"content":{"rendered":"\n<p>Business intelligence (BI) is a term that describes deriving insights from an organization&#8217;s data. BI projects range from small, one-off projects implementing a single reporting tool for a specific business question to complex multi-million dollar platforms that allow dozens of users access to real-time management information via self-service reporting tools.<\/p>\n\n\n\n<p>This article will provide business intelligence statistics to highlight how BI has evolved over the last few years, showcase the current size and state of the market, and point towards the benefits BI has for the decision-making processes.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Essential Business Intelligence Stats for 2023<\/strong><\/h3>\n\n\n\n<ul>\n<li>The global business intelligence market is worth<strong> $29.42 billion<\/strong> as of 2023.<\/li>\n\n\n\n<li>The global business intelligence market is expected to grow from <strong>$29.42 billion<\/strong> in 2023 to <strong>$54.27 billion<\/strong> by 2030.<\/li>\n\n\n\n<li>The global business intelligence adoption rate is <strong>26%<\/strong>.<\/li>\n\n\n\n<li>Over <strong>33% of large-sized businesses<\/strong> will employ decision intelligence in 2023.<\/li>\n\n\n\n<li>Organizations use 4 or more different business intelligence tools on average.<\/li>\n\n\n\n<li>Organizations leave <strong>97% of gathered data<\/strong> unused.<\/li>\n\n\n\n<li><strong>74% of employees<\/strong> feel unhappy or overwhelmed when working with data.<\/li>\n\n\n\n<li>Businesses using business intelligence are <strong>5 times<\/strong> more likely to reach faster decisions than those that do not.<\/li>\n\n\n\n<li>Bad data costs the US economy <strong>$3.1 trillion<\/strong> each year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Business Intelligence Market Size Statistics 2023<\/strong><\/h2>\n\n\n\n<p>The Business intelligence market has steadily increased over the past years. These statistics will expose you to the global revenue growth and the two top countries with the largest mobile intelligence markets.<\/p>\n\n\n\n<ol>\n<li><strong>The global business intelligence market will be $29.42 billion in 2023 and reach $54.27 billion by 2030.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Fortune Business Insights)<\/p>\n\n\n\n<p>The global business intelligence market was estimated at $29.42 billion in 2023 and is predicted to grow with a CAGR of 9.1% over the 2023-2020 period, reaching an estimated value of $54.27 billion by 2030. The growing demand for real-time operational insights is one of the key factors helping boost the growth of this market.<\/p>\n\n\n\n<ol start=\"2\">\n<li><strong>The global mobile business intelligence market was valued at $11.1 billion in 2022 and is forecasted to reach $34.2 billion by 2028.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Research and Markets)<\/p>\n\n\n\n<p>Business intelligence market statistics indicate that the mobile segment of the BI market is expected to grow from $11.1 billion in 2022 to $34.2 billion by 2028, at a CAGR of 19.57% in the forecasted period. The Software segment has predicted growth of 17.4% CAGR and is projected to reach $17.4 Billion by 2027.<\/p>\n\n\n\n<ol start=\"3\">\n<li><strong>The US and China are the largest mobile business intelligence markets.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Research and Markets)<\/p>\n\n\n\n<p>Unsurprisingly, the two largest world economies are the two most prominent business intelligence markets. The mobile BI market in the US alone was estimated at $2.6 billion in 2020. According to statistics on business intelligence, China\u2019s economic growth will also be echoed in the BI sector, with the country\u2019s BI market projected to grow at a CAGR of 18.7% and reach $5.2 billion by 2027.<\/p>\n\n\n\n<ol start=\"4\">\n<li><strong>The global BI adoption rate is 26%.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Wiiisdom)<\/p>\n\n\n\n<p>The global Business Intelligence adoption rate sat at 26%. That means that in a department of 100 staff members, 26 people would use BI tools regularly.<\/p>\n\n\n\n<p>Statistics for business intelligence also tell us that the larger the company, the higher the BI adoption rate. According to 360Suite\u2019s Business Intelligence (BI) Survey, a BI adoption rate of over 80% was mainly found among companies with more than 5,000 employees. This makes sense, as larger companies can access more extensive data sets requiring specialized BI tools to analyze.&nbsp;<\/p>\n\n\n\n<ol start=\"5\">\n<li><strong>The fastest-growing BI segment is cloud analytics, growing at a CAGR of 23%.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(MarketsandMarkets)<\/p>\n\n\n\n<p>According to business intelligence stats, the cloud analytics segment exhibits the fastest growth rate of 23%, and its market value is expected to jump from $23.2 billion in 2020 to $65.4 billion by 2025.<\/p>\n\n\n\n<p>The reason for this growth is simple: ease of use, flexibility, and scalability. Furthermore, with cloud analytics companies providing business information across a wide range of industries, there are no limits on the number of areas you can gather data from.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Business Intelligence Usage Statistics for 2023<\/strong><\/h3>\n\n\n\n<p>The 26% global adoption rate of business intelligence tools portrays the wide acceptance and usage of these BI tools by many organizations in handling extensive data analysis. Read on to get a complete picture of business intelligence usage statistics for 2023.<\/p>\n\n\n\n<ol start=\"6\">\n<li><strong>52% of software companies use BI tools.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Sisense)<\/p>\n\n\n\n<p>To develop and expand their businesses,&nbsp; many organizations (52 percent of software firms and 50% of finance firms) use BI and analytics to find new revenue streams.<\/p>\n\n\n\n<ol start=\"7\">\n<li><strong>Around 54% of enterprises stated that cloud business intelligence tools are critical to their current and future initiatives.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Dresner,&nbsp; Instinctools)<\/p>\n\n\n\n<p>Drawing from Dresner\u2019s report on business intelligence and cloud computing, we can see that over half of the surveyed enterprises believe BI tools are essential for their business.<\/p>\n\n\n\n<p>This showcases how valuable and integral business intelligence solutions are to all organizations, regardless of size. In the last few years, cloud BI tools have grown thanks exponentially to new technologies and enterprise <a href=\"https:\/\/dataprot.net\/statistics\/data-statistics\/\">demand for real-time data<\/a> at their fingertips.<\/p>\n\n\n\n<ol start=\"8\">\n<li><strong>Almost 90% of R&amp;D departments consider BI critical for future endeavors.&nbsp;<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Dresner)<\/p>\n\n\n\n<p>Research and Development teams rely heavily on insights derived from big data, which is why we see such an overwhelming percentage of R&amp;D teams considering it essential.\u00a0<\/p>\n\n\n\n<p>Big data has become an integral part of many industries. It is now considered a necessity for almost all forms of R&amp;D. This is because the amount of data organizations collect grows exponentially yearly. BI tools are required to make sense of these vast data troves.<\/p>\n\n\n\n<ol start=\"9\">\n<li><strong>Organizations use 4 or more different business intelligence tools on average.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Pyramid Analytics)<\/p>\n\n\n\n<p>The number of enterprises that utilize BI tools is rising, and companies are using multiple devices simultaneously. They have realized the benefits of employing multiple solutions offering more data analysis options.<\/p>\n\n\n\n<ol start=\"10\">\n<li><strong>Organizations leave 97% of gathered data unused.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Towards Data Science)&nbsp;<\/p>\n\n\n\n<p>While it\u2019s true that some of the data that enterprises gather aren\u2019t meant for analysis (but gathered for legal and regulatory reasons), wasting effectively 97% of all data collected is still mind-boggling.&nbsp;<\/p>\n\n\n\n<p>Business analytics statistics show that even with increases in BI adoption, companies still have a lot of room for improvement when it comes to using the data they gather.<\/p>\n\n\n\n<ol start=\"11\">\n<li><strong>67% of the global workforce has access to business intelligence tools.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Towards Data Science)<\/p>\n\n\n\n<p>Business intelligence statistics indicate that around two-thirds of employees worldwide have access to at least one BI tool. Regarding general data analytics software, the percentage jumps to 75%. Despite this, the global BI adoption rate remains at 26%.&nbsp;<\/p>\n\n\n\n<p>This low adoption rate can result in missed opportunities to merge disparate datasets and gain new insights into the company\u2019s business.<\/p>\n\n\n\n<ol start=\"12\">\n<li><strong>The manufacturing industry had the highest cloud BI adoption rate of 58%.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Dresner)<\/p>\n\n\n\n<p>Business intelligence adoption statistics show that the adoption rate for cloud BI tools in the manufacturing industry was 58%. Trailing the manufacturing industry are the financial and business services industries at 50%.&nbsp;<\/p>\n\n\n\n<p>The manufacturing industry has always been massive in terms of employment and economic impact and remains one of America&#8217;s largest employers. The industry has also changed dramatically over the past twenty years, with technology and automation having a significant effect. Manufacturers are increasingly looking for business intelligence tools to gain insight into how to remain competitive.&nbsp;<\/p>\n\n\n\n<ol start=\"13\">\n<li><strong>Over a third of large organizations will have analysts practicing decision intelligence by 2023.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Gartner, Gitnux)<\/p>\n\n\n\n<p>Decision intelligence is the study of how people make decisions, and it encompasses a variety of fields, including decision management and decision support. It includes applications in complex adaptive systems that combine several traditional and advanced disciplines.&nbsp;<\/p>\n\n\n\n<p>In 2023, over 33% of large organizations will have analysts practicing decision intelligence, using data and analytics to design, compose, model, align, execute, monitor, and tune decision models and processes.<\/p>\n\n\n\n<ol start=\"14\">\n<li><strong>Only 26.5% of enterprises stated they\u2019d created a data-driven organization.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(\u200b\u200bNew Vantage Partners)&nbsp;<\/p>\n\n\n\n<p>Stats about business intelligence provided by NewVantage Partners reveal that most companies still haven\u2019t fully incorporated data-driven analysis into their processes. Only 19.3 percent of respondents said they had established a data culture.&nbsp;<\/p>\n\n\n\n<p>In comparison, over half&nbsp; (54.6%) stated they were competing on data and analytics. Only 39.7% acknowledged managing data as an enterprise business asset, and barely over a fifth (26.5%) claimed to have formed a data-driven company.<\/p>\n\n\n\n<ol start=\"15\">\n<li><strong>74% of employees feel unhappy or overwhelmed when working with data.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Towards Data Science)<\/p>\n\n\n\n<p>With the sheer scale of data at our fingertips increasing exponentially, employees find it increasingly more challenging to cope. This exacerbates how essential well-designed and easy-to-use BI tools are and shows that the overarching processes for handling data need to improve.<\/p>\n\n\n\n<p>Stats on business intelligence from the same survey by Towards Data Science show that when confronted with data analytics and business intelligence tools, approximately 40% of employees globally are likely to develop feelings of burnout. In comparison, 36% of overburdened staff spend at least one hour per week procrastinating over data-related chores.<\/p>\n\n\n\n<p>Lastly, 14% of surveyed employees would avoid data-related tasks altogether.&nbsp;<\/p>\n\n\n\n<ol start=\"16\">\n<li><strong>More than 35% of companies consider data preparation very important.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Finances Online)<\/p>\n\n\n\n<p>Data preparation is gathering and transforming data into a form that can be analyzed to provide meaningful insights. In a survey conducted by Finances Online, 35.37% of companies said data preparation is crucial, 24.15% stated it\u2019s essential, and 27.89% described it as critical for current and future initiatives.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Business Intelligence Software Statistics<\/strong><\/h3>\n\n\n\n<p>Check out the most used business intelligence tools adopted by big organizations and countries.<\/p>\n\n\n\n<ol start=\"17\">\n<li><strong>Microsoft Power BI is the most popular BI tool, with a 36.53% market share.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Trust Radius)<\/p>\n\n\n\n<p>Microsoft Power BI is a cloud-based business intelligence software. The tool helps users visualize, discover, and share data with ease. It can create interactive, web-based, mobile-enabled dashboards, reports, and analytics visualizations.&nbsp;<\/p>\n\n\n\n<p>Power BI\u2019s market share was 36.53% in 2021, followed by Tableau Desktop (30%). One of the main reasons for Power BI\u2019s popularity is its full integration with Microsoft Office tools, including Excel, SharePoint, and Microsoft Flow. This makes it easy to access data quickly for all business users and synergize their work across all these tools.<\/p>\n\n\n\n<ol start=\"18\">\n<li><strong>Microsoft Power BI is also the most-compared business intelligence tool on the market.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Trust Radius)<\/p>\n\n\n\n<p>According to statistics on business intelligence tools provided by TrustRadius, a software review and comparison website, Power BI is the most-compared BI tool on the market. The tool that Power BI is most compared with is the SAP Business Objects Platform.<\/p>\n\n\n\n<ol start=\"19\">\n<li><strong>44% of organizations rate Microsoft Azure as critically important for business operations.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Dresner)<\/p>\n\n\n\n<p>Regarding cloud BI tools, another Microsoft product sits at the top &#8211; Microsoft Azure. According to a recent study on business intelligence trends, Microsoft Azure is critical to 84% of organizations. Amazon Web Services comes in second with 33% vital importance and 66% of companies rating it critical. Google Cloud is the third choice, with 22 percent of firms considering it crucial for their business and 41% considering it essential.<\/p>\n\n\n\n<ol start=\"20\">\n<li><strong>North America was the largest BI software market share in 2022.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Kenneth Research)<\/p>\n\n\n\n<p>Unsurprisingly, North America is the most significant market share of 30.9% for business intelligence tools. Besides being home to the largest economy &#8211; the United States &#8211; North America is also the staging ground for a large portion of the giant corporations in the world. These large corporations exhibit a growing need for data visualization and interpretation software, propelling the North American region to the top of the BI global market.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Statistics on the \u200b\u200bBenefits of Business Intelligence for 2023<\/strong><\/h3>\n\n\n\n<p>These BI tools businesses use worldwide come with great benefits and save operational costs in the long run. Here are a few of them:<\/p>\n\n\n\n<ol start=\"21\">\n<li><strong>Companies with CEOs that make data-driven decisions are 77% more likely to succeed.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Deloitte)<\/p>\n\n\n\n<p>Deloitte\u2019s business intelligence and analytics statistics found that companies with a data-driven CEO are far more likely to meet their targets and have a much higher success rate than other firms. They&#8217;re also 59% more likely to gain actionable insights from the analytics they&#8217;re monitoring.&nbsp; However, only 29% of surveyed organizations had CEOs spearheading such decisions.<\/p>\n\n\n\n<ol start=\"22\">\n<li><strong>Businesses using business intelligence are 5 times more likely to reach faster decisions than those that do not.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(BetterBuys)<\/p>\n\n\n\n<p>Business intelligence industry statistics showcase companies&#8217; benefits from using BI tools. It makes sense that these businesses are more informed about their actions. Information allows companies to respond to changes in the market more quickly. This leads to better decision-making and an increased likelihood of success.<\/p>\n\n\n\n<ol start=\"23\">\n<li><strong>Insufficient data costs the US economy $3.1 trillion each year.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(IDS)<\/p>\n\n\n\n<p>A study by IBM revealed that over $3 trillion is lost yearly due to poorly-analyzed or incorrect data. That&#8217;s 3.1 trillion dollars of potential productivity, engagement, and opportunity lost each year due to insufficient data, which negatively impacts the bottom line of nearly 90% of US companies.&nbsp;<\/p>\n\n\n\n<ol start=\"24\">\n<li><strong>Data inaccuracies mean American businesses lose over $109 billion yearly.<\/strong><\/li>\n<\/ol>\n\n\n\n<p>(Accenture)<\/p>\n\n\n\n<p>Business intelligence risk statistics show that larger businesses stand to lose more individually as they rely more on proper data analysis, making any mistakes very costly. Companies in the UK suffer from similar problems, losing up to $13 billion per year due to inaccurate data.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Conclusion<\/strong><\/h3>\n\n\n\n<p>The main drivers of the mobile business intelligence market are the rising demand for big data analytics in making critical business decisions within a compressed timeframe and steady technological advancements. Significant investments in the public and private sectors for deploying MBIs contribute to market growth.&nbsp;<\/p>\n\n\n\n<p>With the widespread integration of the Internet of Things (IoT) that allows mobile devices to communicate, analyze, and share data via cloud-based software platforms, there will be an increase in the deployment of MBI tools.<\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center 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Jugovic Spajic","author_link":"https:\/\/dataprot.net\/author\/damjan-jugovic-spajic\/"},"uagb_comment_info":0,"uagb_excerpt":"[&hellip;]","_links":{"self":[{"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/posts\/354"}],"collection":[{"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/comments?post=354"}],"version-history":[{"count":7,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/posts\/354\/revisions"}],"predecessor-version":[{"id":2754,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/posts\/354\/revisions\/2754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/media\/355"}],"wp:attachment":[{"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/media?parent=354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/categories?post=354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dataprot.net\/wp-json\/wp\/v2\/tags?post=354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}