As digital technologies increasingly take over every industry under the sun, more and more vendors need to understand how to use data science and data analytics to emphasize their strengths and move their businesses forwards. The truth is, a vendor or business leader simply cannot ignore data analytics—to do so would be to ignore a major asset in the modern world.
One of the ways in which vendors can make use of analytics is by utilizing business intelligence platforms to inform their company’s decisions. If technology users are using data analytics for a particular purpose, business intelligence (BI) can help them achieve the goals they’ve set for themselves and gain the insights that their company needs to become leaders in their field.
Using the Magic Quadrant Analysis
Research publications are hailing Gartner’s analysis and magic quadrant designations as an exciting new way to think about the impact of data analytics on various industries. Gartner’s system of analysis places various players in a number of industries into four quadrants. The designation that each company receives (Visionary, Niche Player, Leader, or Challenger) shows how the businesses are interacting with one another, where the industry is going, and how organizations can refine the Microstrategy in order to find themselves in the ‘right’ quadrant. Understanding the shape of industries by using the opinions of Gartner offers the completeness of vision and represents just one way in which Magic Quadrant Analytics and BI can impact real-world business decisions.
Insights From Data Analytics and Business Intelligence
It’s not enough for a business to know where they’ve been last year—a true visionary knows where they’re headed and has just the Microstrategy to get there. These days, real market leaders use data analytics platforms to understand what needs to be done next. Data analytics leaves no ambiguity—they’re just statements of fact. Artificial intelligence can help understand where potential customers are located, what they like, and when they’re most likely to consume your product or service. Big data, when properly analyzed, can show a market leader how the supply chain is likely to behave, what fluctuations might occur in the market, and how innovations may be received in the wider market. Each research organization that works on data analytics can use the Gartner magic quadrant to understand how business users are (or are not) using modern analytics and data preparation to play to their strengths. A research organization that’s looking into this can have a better idea of which business users are more likely to make a major move in the near future.
Information is the most important form of currency in the modern age. Business users who amass the most data and use the most modern analytics techniques for data preparation will find themselves making better decisions. Not using data analytics when the whole marketplace is made of information builders, is just like walking around in the dark while everyone else has turned on the light. Information builders, such as IBM, will inevitably find themselves as magic quadrant leaders—the deployment of the data in smart ways will lead them to a better magic quadrant position overall.
Whether or not you use the views of Gartner in your business to sort data, and to inform your own experiences in the marketplace, it’s important to know that these data solutions exist. The Gartner document is a key source of information in modern analytics, and business users would be wasting a major opportunity if they didn’t put data discovery, modern analytics, business intelligence, and the opinions of Gartner to good use. While these are, of course, up to the subjective opinions of individual end-users, the ease of use when it comes to the Magic Quadrant makes it worthwhile for any business users worth their salt.