Sentimental data set for growth in BI space

Kable Global ICT Intelligence: UK firms follow European trend to strengthen their sentiment data analysis capabilities.

According to research firm Kable, 83.1% of organisations in Europe are currently using business intelligence (BI) technologies, less than the amount of British companies doing so (85.4%)

Interestingly, although today the UK is ahead in the BI field, within the next two years investments will only be seen as a priority by 77.8%, compared to 80.3% of European businesses.

Within the BI vertical, only 46.1% of organisations are using solutions that do social sentiment analysis.

Social sentiment analysis enables for large amounts of data to be analysed and allows companies to understand how customers feel about their business. This data can be collected in different ways, including online social networks and call centres.

This BI vertical is set to see an 8.3% surge in investment, as 54.4% will be prioritising this type of analysis within the next two years.

In a recent interview with CBR, Donal Gahan, head of management information for Vodafone Eire, said that sentiment analysis performed on unused data can deliver good value to the business.

He said: “Get that in, join it with what we already have in the [data] warehouse, it is just going to deliver benefits for the rest of the business.”

Following social sentiment analysis, 4.7% of European organisations are also looking to further invest in real-time BI. That will represent 56.8% of companies in two years, compared to today’s 52.1%.

Data warehousing and marts, which is today the most used type of BI solution (61.2%), will see a decrease in investment to 57.7%. Analytics follow with a decrease from 59.9% to 58.7%.

UK organisations are set to follow the same route, as social sentiment analysis investments will grow from today’s 48.3% of companies to 51.1% in two years.

55.6% of organisations will be prioritising investment in real-time BI technology over the next two years, a .5% increase on current figures (55.1%).

Investments in data warehousing/marts and analytics will both go down by 1.7% and 3.3% respectively.

Today, data warehousing/marts are used by 63.5% of those organisations surveyed, while analytics are used by 62.9%.

Source: cbronline.com