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And flexibility has always been a primary goal. This means making sure you are not confined to a box, and you can still achieve whatever requirements you have from the business or from the technical side. So with that introduction done, I want to get started on today's topic and before I dive into those best practices I mentioned earlier, I want to first explain and prove why dashboards are so effective.
Here are the results of an industry analyst executive survey in terms of how they rank the top priorities, and you can see BI analytics was ranked at the fifth position four years ago. Moving to 3 years ago, BI analytics jumped to the top position. The next year, BI analytics still had the top position. And last year, you guessed it, BI analytics was number one again. It has been the top priority of the executive level, not just in the last four out of five years, but actually in the last 9 of 10 years.
That's quite an impressive message, and you can see the actual spend in the industry in the software industry for BI analytics. Definitely, it is showing that that importance translates into executives gives it that priority. You can see in last year, the spend was 14.3 billion dollars, and this year alone analysts are predicting 16.9 billion spent on software of BI analytics.
So, probably you want to ask yourself if are you among those spending as well, and I think there's a good reason why the industry is as big as it is and why we see that increase, almost a 6% annual increase between those different years in spending. There are a lot of business problems that justify its importance.