Organisations that use business intelligence and data visualisation technologies to make sense of data and to display it in a digestible form enjoy 24% higher revenue on average than those that don’t, claims IQBlade in a new report, Tech Impact ‘19.
Its analysis of the UK’s fastest growing companies (based on the Sunday Times Fast Track 100) and the technologies behind their growth shows that in 2018 average sales of those using business intelligence and data visualisation platforms from the likes of Tableau, Progress Software and QlikView was £39 million, compared to £24 million for non-users.
Ben Abraham, CTO at IQBlade, said: “Business intelligence platforms have become particularly valuable in the age of big data, where patterns and trends can be difficult, if not impossible, to identify by other means. Businesses that are better able to identify patterns and trends within data are better positioned to take advantage of opportunities and mitigate threats, so it’s not surprising to see 8% higher sales growth over a three-year period for those that use it.”
High-growth companies using business intelligence technology are growing three-and-a-half times faster than UK companies outside the Sunday Times Fast Track 100.
Other technologies identified as key growth drivers in the report include app development technology (22% more revenue for the 17% of companies that make use of it) and productivity solutions (20% more sales than non-users).
IQBlade is used by tech vendors and distributors to manage and improve their indirect sales processes and partner programmes. The all-in-one SaaS platform allows companies to identify prospects or other partners of interest based on specific criteria to encourage smarter decisions and drive growth.