Three trends drive success for MicroStrategy
Over the past year, MicroStrategy’s success has been driven by three major trends in the enterprise business intelligence world.
This is according to Phong Le, president and CFO of MicroStrategy, who was presenting a keynote during Microworld MEA 2021, being held as a virtual event today.
The first trend is that organisations have realised the need to modernise their experiences, which is driven by the macro-economic factors and disruptions to the supply chain, particularly through the COVID-19 pandemic.
“In some cases this means replacing legacy systems like SAP Business Objects, Oracle's OBIEE, or IBM Cognos. And the reason they need to replace those legacy systems is those companies are focusing their investments on competing with the large cloud providers.”
”We're happy to be the replacement solution.”Phong Le, president and CFO, MicroStrategy.
He says the likes of Microsoft, AWS and Salesforce are no longer investing in their legacy BI solutions. “The logical replacement for that is MicroStrategy. When you're looking to replace a legacy enterprise BI solution that provides scalability, accessibility, and security, MicroStrategy provides all of this but in a modern experience.”
Le said the company is seeing an acceleration of that trend because companies don't want to be caught flat-footed with sub-scale solutions that are no longer innovative. ”We're happy to be the replacement solution.”
The second trend MicroStrategy is seeing is that, over the last 10 years or so, there has been a lot of experimental BI investments in areas such as augmented analytics, artificial intelligence, and machine learning. “In some cases, these were trial ideas that didn't come to fruition, or provide any action, insights, or output to the organisation.”
These investments have been moved back into enterprise BI, to drive more innovations, outcomes and actions. And again, in this instance, Le saidthe industry is turning towards MicroStrategy. “We're excited to be a part of that trend.”
The third trend the company is seeing is that more and more organisations are making a “buy versus build” decision. “In areas like analytics, this would mean relying on a modern open enterprise grade platform such as MicroStrategy," Le said.