Global Business Intelligence Market 2016-2020
About Business Intelligence
BI is a combination of tools and techniques used to transform raw data into meaningful information for the critical business decision-making process. It helps users to analyze data, receive information from various channels or business activities, and use the information in organizational opportunities and to improve business efficiency.
The BI solution, when integrated with analytics, is capable of handling a large amount of unstructured data to help identify and analyze business patterns. This technology helps users analyze current and historical data.
Technavio’s analysts forecast the global BI market to grow at a CAGR of 10.38% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global BI market for the period 2016-2020. To calculate the market size, the report considers the revenue generated through software licenses and subscriptions, software implementation, and technical support and maintenance of BI.
The market is divided into the following segments based on technology:
Technavio Announces the Publication of its Research Report – Global Business Intelligence market 2016-2020
Technavio recognizes the following companies as the key players in the Global Business Intelligence market: IBM, Microsoft, Oracle, SAP and SAS Institute
Other Prominent Vendors in the market are: Actuate, Alteryx, Board International, Brist, Datawatch, GoodData, Infor, Information Builders, Logi Analytics, MicroStrategy, Panorama Software, Pentaho, Prognoz, Pyramid Analytics, Qlik, Salient Management Company, Tableau, Targit, Tibco Software, and Yellowfin.
Commenting on the report, an analyst from Technavio’s team said: “In the past few years, social media has played critical roles in SMEs and mid-sized organizations. Many SMEs are increasingly embracing this trend and integrating their BI software with social media platforms. This integration helps organizations access a large volume of data, which helps in the business decision-making process.”
According to the report, many organizations are adopting data analytics to understand consumption patterns, new customer acquisition, and various other factors to increase revenue, save costs, and maintain customer loyalty. Data analytics with the help of BI can be used to acquire customer information and details about their buying behavior.
Further, the report states that the high implementation cost of BI solutions hinders the growth of the market as many SMEs have a limited budget for IT infrastructure.
IBM, Microsoft, Oracle, SAP, SAS Institute, Actuate, Alteryx, Board International, Brist, Datawatch, GoodData, Infor, Information Builders, Logi Analytics, MicroStrategy, Panorama Software, Pentaho, Prognoz, Pyramid Analytics, Qlik, Salient Management Company, Tableau, Targit, Tibco Software, Yellowfin.