Gartner: BI could be answer to 79 per cent of IT issues

Analyst research shows that 15 of the top 19 business processes which need upgrading can be addressed by BI

Some 79 per cent of business processes which need upgrading can be improved by business intelligence (BI) products, claims Gartner, which predicts a surge in its uptake this year.

According to a new study the analyst carried out with the Financial Executives Research Foundation (FERF) and Financial Executives International (FEI), BI will be a top area of focus for businesses this year.

The study questioned chief financial officers (CFOs) and respondents pointed to analysis and decision making, monitoring business performance and collaboration and knowledge management as the keys areas BI can address.

The study's results show that 15 of the top 19 business processes that CFOs identified as requiring improved technology support are largely addressed by BI, analytics and performance management technologies.

Gartner added that although companies have made initial investments in BI, some are still sturggling to make headway.

In the study's findings, Gartner said: "Many IT organisations have made initial investments, but these tend to be tactically focused and do not address the more fundamental issues of data quality and consistency, which require CFOs and finance teams to work closely with BI specialists in IT."

In February, Gartner predicted that BI software revenue will jump seven per cent this year to $13.8bn (£9.08bn), and will reach $17.1bn in just three years.

In its most recent research, the analyst's research vice president John Van Decker said that, as BI becomes more mainstream, cloud and mobile BI products will develop.

"CFOs have a strong interest in cloud and mobile technologies. SaaS and cloud-based delivery is starting to affect business applications. Many CFOs use mobile devices and would be interested in getting access to key business information using these tools," he explained.

"CIOs should use this interest to show how wider investments in cloud and mobile technology could deliver benefits across the organisation."