45 Amazing Business Intelligence Statistics for 2021

Business intelligence (BI) helps enterprises collect, analyze, present, and integrate data to facilitate actionable insights for business growth. Over time, the business intelligence industry has morphed into a billion-dollar enterprise. More and more businesses undergo digital transformation in response to industry demands. 

We now produce more data daily than ever before. So, according to business intelligence statistics, any business effectively applying the insights extracted from market data will surely benefit. Certainly, the big brands of any industry know this. 

We understand the importance of BI to your business’s growth. And so, we have hand-picked some of the most relevant business intelligence statistics for 2021

Eye-Opening Business Intelligence Statistics

Here are some highlights to help you understand the importance of it all:

  • By 2023, over 33% of large-sized businesses will practice decision intelligence.
  • Data analytics makes decision-making 5x faster for businesses.
  • Self-service business intelligence is crucial for 60% of research and development departments. 
  • The global business intelligence market will grow to $33.3 billion by 2025.
  • Most businesses adopted business intelligence in 2020. 
  • The top three business intelligence trends are data visualization, data quality management, and self-service business intelligence (BI).
  • 7 out of 10 business rate data discovery as very important.
  • 71% of buyers prefer Microsoft Azure as their number one vendor.

See?

Business intelligence is crucial nowadays. 

So, let’s dive deeper.

General Business Intelligence Statistics

We offer you an in-depth explanation of some key business intelligence statistics.

1. In 2020, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.

(Source: Forbes)

According to business intelligence technologies, the popularity grew since 2012. Back then, only 10% of business owners considered it vital. By 2020, the percentage had almost tripled, though.

That would only mean one thing:

Businesses are starting to have more confidence in the systems, compared to past years. 

Cloud-based BI is not only cost-effective to manage but also provides access to more data (both structured and unstructured). Therefore, it’s no surprise that over half of businesses value it.

There are more reasons for this:

It is easy to scale if need be, highly reliable, and also offers better security than physical servers.

2. Covid-19 propelled a higher adoption rate of BI in 2020.

(Source: Analytics Insight)

According to business intelligence trends, most businesses changed adopted online working, marketing, or selling in 2020 due to Corona. Organizations also incorporated business intelligence into their processes that same year. 

Some top tools to look out for are: 

  • SaaS 
  • self-service 
  • collaborative 
  • mobile 
  • data visualization 
  • embedded analytics 
  • citizen data 
  • hyper-automation 
  • augmented analytics

And others!

3. A third of large-scale organizations will adopt decision intelligence by 2023.

(Source: Information Week)

Decision intelligence is quickly evolving as a staple for establishments looking for growth. Business intelligence trends for 2021 show that one in every three companies will be using this form of fact-based data in the coming years. 

Therefore, making your transition is now to gain a competitive edge in the future.

Tools to look at include: 

  • decision modeling 
  • complex adaptive systems 
  • AI
  • machine learning 
  • rule-based approaches 

The benefit?

Above all – no more assumptions or guesswork in making decisions critical to business survival!

4. Data analytics makes decision-making 5x faster for businesses.

(Source: Better Buys)

Gone are the days when businesses were operated based on assumptions and instincts. Now, companies are actively utilizing data analytics to help make fact-based decisions. Tools like self-service BI allow almost anyone to extract insights from data in real-time, without having to go through all the cumbersome processes involved in the organization’s decision making. 

5. Record-keeping organizations (financial institutions, higher education, retail companies, etc) are the major industries leveraging cloud business intelligence today.

(Source: Learn G2)

Record-keeping is a delicate job, and when done right, it can increase business revenue. According to business intelligence industry statistics, cloud BI helps record-keeping enterprises to store manage, and report insights from data at a reduced cost. Plus, the added advantage of reduced storage risk compared to traditional forms of storage establishes it as a stronghold in the record-keeping industry. And considering the number of data breaches is on the rise, this just might be a good decision. 

6. The revenue for public cloud infrastructure will rise by 35% in 2021

(Source: Server Space)

2020 saw many businesses learn to realign their operations with circumstances, i.e., working and selling virtually.  

As a result, business intelligence industry statistics show that the adoption of public cloud has gone up. Proceeds will likely be $120 billion by Q4 of 2021. 

7. Over 30% of institutions in higher education thought cloud BI was critical in 2020.

(Source: Forbes)

Cloud business intelligence was massive in 2020, with higher learning institutions. That due to social distancing. That therefore called for remote learning. Business intelligence platforms statistics show that the demand was 30% in 2020, compared to the previous years when it was 15%. 

8. 70% of organizations think that data discovery and visualization are vital.

(Source: BI Survey)

According to data visualization statistics for 2021, ¾ of business owners take it very seriously. 

Here’s why:

It plays a critical role in simplifying complex data by using charts, maps, infographics, and graphs. As a result, it becomes easier to detect trends, patterns, and data relations essential for decision making. 

9. The market value for applications in business intelligence was $17.7 billion in 2020.

(Source: Select Hub)

In 2020, the banking sector relied heavily on BI applications, making it one of the big spenders with $200 million. Obviously, that trajectory will continue in the coming years as the need for the platforms continues to rise. 

Business Intelligence Market Size

According to statistics for business intelligence, the BI market is already worth billions. In the long run, it is expected to grow even further. Here is a breakdown of various BI services and their market worth.

10. The BI market will hit $33+ billion by 2025.

(Source: Report Linker)

According to business intelligence market statistics, 2025 will be a big year with a growth of $10.1 billion compared to 2020 ($23.1 billion). The predictions show a Compound Annual Growth Rate (CAGR) of 7.6% during the period. 

Experts credit the following for driving the market expansion: 

Most companies will invest heavily in analytics; there will be more demand for data visualization dashboards and higher cloud adoption.

11. The cloud-based BI market is the fastest-growing BI segment.

(Source: Finances Online)

Stats on business intelligence show that the cloud-based BI market was worth $750 million in 2013. Fast forward to the end of 2018 and its value had risen to $2.94 billion – almost four times more.

12. The mobile business intelligence market could grow up to $16 billion by 2023.

(Source: Nix Solutions)

Business intelligence market statistics reveal that the mobile BI market had a value of $4.103 billion in 2016. In 2017, it hit the $5.03 billion mark. It is expected to grow at a CAGR (Compound Annual Growth Rate) of 21.6% till 2023.

Business Intelligence Adoption Statistics

Digitalization and increased data production have called for improved business processes.  The following business intelligence stats will familiarize you with the rate of BI adoption across the globe.

13. ¾ of BI application purchasers rate Microsoft Azure as their top vendor.

(Source: Finances Online)

According to business intelligence stats about customers, seven out of 10 people think Microsoft Azure is one of the best vendors. Amazon Web Services comes in second with 33%, while Google Cloud takes the third position with 22%.

There’s a reason why Microsoft is everyone’s favorite:

It has pocket-friendly rates for cloud storage. It also has top-notch data analysis tools.

14. 49% of manufacturers that use business intelligence plan to increase their budgets YOY.

(Source: Dresner)

BI is on-demand with production and assembly plants. According to business intelligence statistics for 2021, almost 50% of manufacturers anticipate that their budgets for BI and analytics will go up in the coming years.  

15. North America remains the largest market for BI software adoption.

(Source: Finances Online)

Business intelligence adoption statistics reveal that countries like the US and Canada are the significant pushers of the business intelligence software market in North America. It comes as a result of a significant number of organizations adopting BI services as a core part of their business strategy.

16. The adoption of cloud-based BI is highest in the manufacturing, business services, and financial services industries.

(Source: Forbes)

The manufacturing industry generates tons of data from customers, suppliers, and even competitors. When properly utilized, these data can help manufacturers:
have a deeper understanding of their market,

  • develop better products
  • reduce cost 
  • increase revenue
  • grow their customer base.

So far, 58% of manufacturing companies are already using cloud-based BI. Both financial and business services have a 40% apiece according to business intelligence usage statistics.

17. 8 in 10 manufacturers that use BI for analytics have seen it work successfully.

(Source: Dresner Advisory Services)

According to business intelligence usage statistics, 89% of manufacturers with BI and analytics initiatives say they work. The technology’s utilization in the industry has put them ahead of the curve than peers in other sectors.

18. More than 46% of businesses are already using a BI tool as a core part of their business strategy.

(Source: Finances Online)

This could be for:

  • data cleaning
  • reporting
  • exploration
  • dashboard
  • predictive analysis

Regardless, business intelligence stats for 2021 show that business intelligence tools are now so important that almost every business leader wants to implement them.

19. The commitment to cloud use by North America is at 29%. 

(Source: BI Survey)

Europe is 10% behind North America when it comes to using cloud BI. 34% of organizations in Mexico, the US, Greenland, and Canada are either fully or partially using the technology compared to 24% of Europe. 

20. 90% of sales and marketing teams cite BI as a crucial tool in getting their work done effectively.

(Source: Finances Online)

Even before big data, sales and marketing have always been a data-driven process in any organization. With the introduction of BI, decision-making is now faster, more accurate, and insightful. The sales team can now track best-selling products, and marketing teams can better understand which channels bring in the most traffic.

Business Intelligence Jobs Statistics

So, let’s take a look at some of the business intelligence statistics related to jobs.

21. 50% of Chief Digital Officers that don’t utilize Chief Data Officer peers have a rough time succeeding.

(Source: Gartner)

Data analytics is a core part of business longevity.

According to business intelligence and analytics statistics, ½  the businesses that don’t use CDO might not make it in the long run. The reason is that the role is pivotal in creating data-driven decisions no organization can do without.  

22. In 2020, 2.72 million jobs required various data science and analytics skills.

(Source: Learn G2)

According to statistics on the future of business intelligence, there were just around 364,000 data science-related job openings in 2018. This figure rose significantly in 2020 and almost hit the 2.72 million mark.

23. 85% of business leaders agree that big data will significantly change the way that they do business.

(Source: Forbes)

We generate tonnes of data every day. So, the presence of big data in any business provides an opportunity for business leaders to improve overall performance.

Also, it creates room for a more effective business strategy.

When integrated with BI, big data can:

  • improve decision-making processes
  • uncover new business insights
  • boost productivity
  • increase sales and revenue
  • reduce cost of operation
  • booste employee productivity
  • enhanced business capacity

24. 69% of directors have fast-tracked digital business adoption.

(Source: Gartner)

2020 was a turning point for many organizations’ processes, from marketing to customer service to sales. Therefore, nearly 70% of business heads have accelerated the efforts to implement digital operations in 2021 to survive in a challenging environment.

25. 55% of businesses have dark data. 

(Source: Splunk)

Lots of organizations collect data, but shockingly, over half of them don’t analyze it. That it’s an alarming trend bearing in mind that analytics is essential in decision making. 

26. Globally, only 24% of business leaders have passed the data literacy test.

(Source: Hype Right)

Data literacy entails the ability to work with data in various ways. For example, being able to read,  analyze, interpret, and interact with data. According to business intelligence statistics for 2021, an organization is not considered data literate until the majority of its employees can comfortably work with data on their own. 

27. Only 32% of executives say that they can create useful value from data.

(Source: Accenture)

According to business intelligence stats for 2021, 75% of managers lack data literacy. That means they can’t understand organizational figures to create any meaningful information from them. 

To clarify, out of the 32%, only 27% say that they can make actionable insights from their analytical efforts. 

28. Only 25% of new employees feel confident enough to use organizational data.

(Source: Accenture)

The state of data accuracy training is in bad shape in most establishments. According to business intelligence statistics, only a quarter of employees feel that they get adequate coaching regarding data use during onboarding. 

The Financial Impact of Using BI Tools

Business intelligence provides a significant advantage for enterprises that utilize its tools for informed decision-making. Read on to discover more about the economic impact of BI tools.

29. In the US alone, poor data quality costs the economy up to $3.1 trillion yearly.

(Source: Finances Online)

The United States is among the core drivers of a data-driven business economy today. Business intelligence stats for 2021 show that relying too much on models requiring data intelligence makes the US prone to poor data quality. Plus, the time-consuming process and costs involved can cause a few individuals (in decision-making positions) to skip the validation of data received. Consequently, this will add to the expenditure incurred due to poor data quality.

30. US businesses lose $100 billion every year due to data inaccuracy.

(Source: Accenture)

There’s a high price to pay for incorrect data.

According to business intelligence stats, organizations in the United States lose upwards of $109 billion because of data errors. The United Kingdom isn’t safe either, and parts with $13 billion due to data issues.

In terms of working hours, enterprises lose about 43 hours per year per staff member. That happens when staff call in sick or continuously procrastinate because they feel overwhelmed. 

31. In 2020, more than 51% of businesses that leveraged data analytics had a better financial performance.

(Source: Business 2 Community)

According to statistics on business intelligence tools, more than half of the organizations that used data analytics increased their returns in 2020. As a result, they experienced faster decision-making, accurate predictive analysis, and detailed market insights.

32. The average ROI for enterprises using business intelligence and analytics is 1300%.

(Source: Yellow Fin BI)

The world today is governed by data – traditional business models no longer meet the required standard of a successful business. Moreover, business intelligence stats about customers show that whoever controls data now controls the market. Decision-making now requires only a few seconds. So, the implementation of self-service BI and cloud-based BI provides a significant advantage to organizations.

33. The US will be the highest BI revenue generator in 2021.

(Source: Statista)

According to business intelligence adoption statistics, the United States will generate $11,727m in 2021. As a result, the country will become the biggest earner from technology on the globe. 

34. 56% of organizations that utilized analytics in 2020 reported faster and effective decision-making.

(Source: Business 2 Community)

Statistics for business intelligence show more than ½ the businesses that analyzed their data in 2020 were able to make quicker and better resolutions.

So, how do you know what works and what doesn’t?

Best case scenario:

You run a market survey. It may take a lot of time to get a fully detailed report. With business intelligence tools and big data, you can derive all the insights you need before launch.

Self-Service Business Intelligence Statistics

To clarify:

Self-service business intelligence is a tool that allows the average employee to successfully manage, interact, and draw insights from data on their own. 

But:

35. The most challenging issues for self-service business intelligence are data combination (20%) and data security (14%).

(Source: Learn G2)

Big data does not come from one source; neither does it come in one format. Analyzing and reporting these data from different sources and different forms is an arduous task. So, it poses a significant challenge to organizations practicing self-service BI.

Another major problem is data security. With self-service BI, authorized employees can have access to company data at any point in time, regardless of their location. As much as that sounds convenient, it opens doors to data theft. This means that hackers can easily gain access to the database of an organization. They just need to merely tap into the unprotected personal device of an employee.

36. 15% of businesses don’t know they’ve already implemented self-service business intelligence because of mislabeling. 

(Source: BI-Survey)

The adoption of self-service business intelligence has remained the same from 2014 to 2021. According to stats of business intelligence, the rate has stayed 55% during the period. 

But that’s due to improper categorization. 

Most organizations aren’t aware that they’re using such technologies. BI software these days comes with self-service capabilities. So, most people are unaware they’re using it. 

37. 70% of respondents think that BI self-service is vital.

(Source: BI-Survey)

South America takes self-service business intelligence very seriously. According to business intelligence stats, 7.8 out of 10 businesses in the continent think it’s crucial. 

North America and Europe tie in second place, with 7.1/10. In the third position is the Asia Pacific, with 6.9/10. 

38. Finance (67%), sales (61%), and marketing (60%) are the sectors benefiting the most from self-service BI.

(Source: Learn G2)

Business intelligence statistics also show that these sectors deal most with information in real-time. Market decisions require immediate reaction. Going through a business analyst or BI team may not be ideal. With the right data in place, quick and informed decisions can easily be made.

Self-service BI:

  • provides your business with more control over the market,
  • improves resource allocation to more profitable trends
  • ensures that only relevant data is made available

39. 91% of users in small companies use self-service BI to view tasks.

(Source: BI-Survey)

But what are people mostly using it for?

Business intelligence statistics show that nine out of 10 businesses with less than 500 employees use the form of ad hoc reporting for ‘viewing. “

However, when it comes to the “exploring and analyzing” function, large organizations with over 6000 employees are in the lead. Meanwhile, 84% while micro-companies are trailing with 78%.

The trend might have something to do with the fact that bigger firms hire business analysts. Managers in smaller establishments might perform the role. It’s not common, however, since they have to oversee other areas of the organization. This leads to discrepancies. 

40. 6 out of 10 R&D units think that self-service BI is vital.

(Source: Forbes)

For business initiatives and running projects, self-service business intelligence is critical.

According to self-service business intelligence statistics, nearly ⅔ of research & development sections value it. IT is trailing behind – 20%. However, bearing in mind privacy concerns in IT, it’s easy to see why it’s less prevalent in the sector.

Trends in Business Intelligence

To clarify, we have gathered the following  info on are business intelligence trends:

41. The top three BI trends are master data and data quality (MD/DQ) management, data visualization/discovery, and self-service business intelligence (or data-driven culture).

(Source: BI-Survey)

It is clear to see why these three were crucial to companies that year. Note that the business intelligence trends are still very relevant in 2021

Let’s look at them one by one:

MD/DQ management allows you to collect and exchange master data (e.g., customer or supplier master data) from discrete data sources. 

Data visualization enables presenting the already processed data in a graphical format. It reveals real-life business insights that This reveals real-life insights that companies can use to make reliable decisions.

Lastly, self-service BI empowers employees with the right tools and knowledge to draw insights from data without IT teams or BI teams’ help.

42. The data scientist position is the highest-paying entry-level job in the world.

(Source: Glass Door)

Business intelligence statistics show that the median base salary for an entry-level data scientist is $95,000.  Obviously, the reason is the increased need for experts who can draw insights from data.

43. 92% of IT leaders are willing to acquaint themselves with data skills.

(Source: Splunk)

As it can be seen from business intelligence statistics, nine out of 10 IT heads in leading economies are ready to acquire data-handling competency.  So, most of them have realized that they have lots of “dark” data that they could utilize to transform their organizations.  

Data Visualization Statistics

In short, data visualization is the presentation of business intelligence analysis in graphical illustrations. It utilizes data visualization software and even infographic tools. According to data visualization statistics for 2021, it remains the best way to present data analysis from BI.

The following data visualization stats will shed more light:

44. Finance establishments find value in data storytelling tools.

(Source: Forbes)

Publishing hard-to-interpret data is no longer how financial institutions/ departments roll. 

They’re starting to see the benefits of storytelling figures, especially when presenting information to different audiences. The tools are handy for departments that might not have a deep grasp of complex financial data, such as the front office.

Some of the features include:

  • Video and image embedding
  • Interactive visuals  
  • Author highlighting
  • Navigational aids
  • Analytical objects
  • Visual flows

45. Companies with over 10,000 employees love collaborative BI.

(Source: Forbes)

Business intelligence trends for 2021 show that collaborative BI is a hit with large organizations.

Makes complete sense bearing in mind the headache that arises when different staff members work on a single project.

Without the right tools, communication flows at a snail’s pace. The level of engagement goes down. In other words, collaboration helps things move along much faster. It’s no wonder it’s becoming a favorite of companies with 10K+ workers.

Wrap Up

Business intelligence statistics have it that we now produce enormous amounts of data daily, all of which can be analyzed for marketable information. Such information will inevitably bring about business growth. Thankfully, that is where business intelligence comes in. BI can provide businesses with an array of tools that enables the effective utilization of data. And so, they can gain an edge in a highly competitive market.

Is your business effectively harnessing the powers of business intelligence?

ABOUT AUTHOR

I am a natural-born connector, known for long-standing and effective business partnerships. I am fuelled by my passion for human resources and my genuine love of connecting with others. To date, my knowledge & determination to transform information into action & initiatives have contributed to my successful career. HR is something that I live and breathe, and I know the impact it has in transforming businesses; and the lives of those who work inside it.

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