Global Operational Intelligence Market 2017-2021
About Operational Intelligence
OI is a real-time dynamic and business analytics solution that delivers greater visibility and insight into businesses. Organizations use it for real-time capabilities when they need to take any immediate action like stopping the business process or making changes to the traditional system. The OI solutions offer applications such as query analysis for better real-time visibility. This real-time business information can be seen in many ways including alarms and alerts when the solution needs to be triggered, and decisions that are made and implemented using dashboards.
Technavio’s analysts forecast the global operational intelligence market to grow at a CAGR of 12.39% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global operational intelligence market for 2017-2021. To calculate the market size, the report considers the the revenue generated from software subscriptions, installations, updates, licenses, maintenance costs, and professional services.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Operational Intelligence Market 2017-2021
Technavio recognizes the following companies as the key players in the global operational intelligence market: Flexeye, OpenText, Splunk, and Vitria Technology.
Other Prominent Vendors in the market are: Axway, IBENOX, Intelligent InSites, Kinaxis, OpsVeda, Oversight Systems, CACI, Space-Time Insight, SQLstream, IFS, and XMPro.
Commenting on the report, an analyst from Technavio’s team said: “One of the major trends in the market is the integration of OI with social media. A decade ago, social media was not advanced enough to integrate with software. Currently, organizations can share a detailed description of their products and services through social media to reach potential customers worldwide. Many large organizations and SMEs are adopting this technology to integrate and upgrade software to obtain the best ROI from social media platforms.”
According to the report, one of the major drivers for this market is increasing need for real-time decision-making. OI provides flexible, integrated, and real-time decision-making support to the top management in an organization. It improves responsiveness across an organization. Diverse elements of multinational environments, such as language, currency, and accounting standards, are covered in a single software package. It also provides better analysis and planning capabilities, enabling efficient management of business data.
Further, the report states that one of the major factors hindering the growth of this market is lack of skilled professionals. There is a lack of talented professionals, who are required to leverage the full potential of OI technology. It requires a multidisciplinary team of trained and skilled statistical data scientists, business analysts, infrastructure professionals with data virtualization knowledge, and solution designers with knowledge of handling the data in Hadoop and other related platforms. However, in this competitive business environment, service providers are adopting competitive strategies for cost cutting and limiting the investments in training and educating the professionals.
Flexeye, OpenText, Splunk, Vitria Technology, Axway, IBENOX, Intelligent InSites, Kinaxis, OpsVeda, Oversight Systems, CACI, Space-Time Insight, SQLstream, IFS, XMPro.