Gartner BI and Analytics Magic Quadrant says BI has reached a Tipping Point. What does this mean for CPM, EPM and CFOs?

New Gartner Magic Quadrant for Business Intelligence and Analytic Platforms
In February Gartner published the 2016 version of the Magic Quadrant for Business Intelligence and Analytic Platforms (Gartner, 4 February 2016). It included a redefinition of the criteria resulting in "significantly reordering the vendor landscape".

 

The key takeway for CFOs is alluded to in the abstract of the research.

 

“The BI and analytics platform market's multiyear shift from IT-led enterprise reporting to business-led self-service analytics has passed the tipping point. Most new buying is of modern, business-user-centric platforms forcing a new market perspective, significantly reordering the vendor landscape.”

 

2016 Gartner Magic Quadrant for BI and Analytics Platforms
Source: Gartner (February 2016)*

 

I recommend reading the report if you are a Gartner client or you can download it from our partner, Qlik (registration required). Qlik is one of only three leaders in the Magic Quadrant and is the technology underpinning Tagetik Analytics (more about that below).

 

What this tipping point means to CFOs

If the trend is towards business user self-service BI and analytics that Gartner describes is true, then the CFO better be sure that the data those users are accessing is accurate. CFOs need to have full confidence that there is consistency of data across all who are doing their own self-service analysis. I believe that the self-service analytics “train has left the station”. It is the future, and CFOs need to prepare for it.

 

Adapt or lose control

CFOs need to prepare for the increase in demand of self-service analytics. Refusing to provide it will result in people looking for ways to pull the data together on their own without any governance or consistency. And that will create increased risk of inaccurate, inconsistent or incomplete financial data being used for decision-making. lead to their own way to do itis that

 

Embrace self-service but maintain control and confidence

It really comes down to retaining governance and control while enabling self-service visualization and analytics. Finance should take on the responsibility of delivering analytics on financial information. Analytics and visualization should become incorporated in your financial processes rather than something at the end of the process that is dependent on IT.

 

Finance should make self-service analytics and visualization of financial information available to business decision-makers, but govern the data itself including the financial calculations and audit trail that tie the data back to the source and to approved financial statements. In this way CFOs can be confident that the potential risk of this increase in self-service analytics and visualization is minimized. That is why we chose Qlik Sense as the technology behind Tagetik Analytics. From directly within Tagetik we provide all the financial intelligence and control that the Office of Finance needs to have full confidence in the accuracy and consistency of the data; and the self-service visualization that business users demand (or will soon demand).

 

With the risk controlled, this becomes an opportunity. An opportunity for the finance organization to have greater impact on business performance by providing business leaders with the information they need to make more informed and insightful strategic decisions.

 


Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

* This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request.

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