According to Forrester’s insights-driven business maturity assessment, 89% of respondents from firms with advanced maturity into becoming insight-driven organizations say their firms will grow revenue next year, compared with 73% of those at firms with beginner maturity; additionally, 10% of respondents at advanced maturity firms expect to grow revenue by 20% or more, compared with just 4% of those at beginner firms.
The key differences between data-driven organizations and insights-driven ones are insight-driven organizations not only turn data into signals but they also:
1) turn signals into insights, which
2) drive actions, which in turn
3) affect tangible business outcomes, and
4) support continuous learning and improving capabilities
A modern enterprise BI platform — a key component of enterprise systems of insight (SOI) — must support all of these capabilities. Why is that so critical? It makes the difference between an industry leader and a laggard. How do you take BI to the next level? Organizations should be able to get insights in seconds, not minutes.
TIBCO Spotfire has already been a leader in the market with its mature in-memory architecture, comprehensive GUI, and stellar augmented BI (AutoML and conversational UI). But that’s not where its strengths end. In the age of customers, empowered consumers with smart mobile devices have constant access to competitor products and services. As a result, getting instantaneous actionable insights is now more crucial than ever. This is where Spotfire truly differentiates from competitors with its out-of-the-box streaming analytics capabilities.