Microsoft Power BI Dominates the BI & Analytics Market – BARC Survey
BARC presents The BI & Analytics Survey 24. The world’s largest survey on the use of business intelligence (BI) and data & analytics software is based on the responses of 1,500 participants from around the world, making it the most comprehensive and in-depth analysis of the current BI and analytics market. In its 22nd edition, the report highlights both the advantages and challenges of BI and analytics software. With an extensive examination of 21 software solutions, the survey provides a clear view of current market trends.
Robert Tischler, BARC Senior Analyst and author of the study, comments: “The survey results emphasize the importance for companies to make an informed decision when investing in BI and analytics software. There are significant discrepancies between the actual business benefits achieved and how they are prioritized in software selection.
This starts with setting the ‘right’ priorities when choosing software. Our data clearly shows what to focus on to derive more benefits from data through BI and analytics.”
Dominance of Microsoft Power BI
Microsoft Power BI remains by far the most frequently evaluated software for BI & analytics. As Figure 1 shows, 72% of organizations that have purchased BI solutions in the last two years have evaluated the Microsoft self-service solution – an impressive increase of 14 percentage points over the previous two years.
Tableau and Pyramid, ranked second and third, are still frequently considered. Interest in SAP Analytics Cloud has grown significantly (+7) while the importance of SAP BO is diminishing. In addition to established products, smaller vendors in the market are also seeing significant growth, as evidenced by the rise of Zoho Analytics, which was considered in 9% of all evaluations (+6).
Purchase criteria for BI and analytics software
The comparison of purchase reasons for BI and analytics software with the actual benefits achieved offers an interesting insight. Companies that buy tools capable of processing large volumes of data without issues derive the highest value. Organizations prioritize “price-performance ratio” and “ease of use for report recipients” when purchasing software.
However, in terms of their relevance for achieving benefits, both are ranked quite low at positions 10 and 11. Buyers should therefore focus more on product-related criteria than on cost considerations to secure long-term benefits. Similarly, user-friendliness for report designers should be prioritized over that for report recipients.
Choosing the right software is key to project success
The goal of many companies is to become more efficient and effective with BI and analytics software and make better decisions based on relevant and reliable data. The BI & Analytics Survey 24 confirms that in general the software delivers on this fundamental promise. A crucial aspect of BI and analytics adoption is choosing the right software. The market is dynamic and the differences between the products are often not immediately apparent.
The BI & Analytics Survey 24 emphasizes the importance of a thorough and comparative evaluation of products to achieve the greatest possible business benefit. Implementing and operating BI and analytics software is equally crucial. Effective collaboration between clients and providers, aligning the product with company needs and the availability of internal company resources are just some of the factors contributing to success. The complete study contains many detailed analyses, charts and analyst comments that illustrate the above points.
