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Business Intelligence Market Grow at an estimated CAGR of 8.3% from 2013 to 2018
While the necessity for Business intelligence (BI) platform and tools continues to grow steadily, BI tools are expected to be simple, agile, more intuitive, robust and more user-friendly. There has been a continuous transformation in the BI market driven by the technological advancements and ever growing demands of the business users. In the previous decade the BI market was crowded with many vendors with different capabilities. However the market started consolidating when the large players such as IBM, SAP and Oracle started acquiring the small vendors to enhance their capabilities and to expand their customer base. Since then the market was consolidating continuously, but after the emergence of new technologies such as mobile business intelligence, cloud based BI tools and social media BI and Analytics the market started to see many new players sprouting out quickly.
On the other side, organization irrespective of their sizes are becoming increasingly aware of the capabilities of the BI tools and its ability to benefit them and are on the watch for deployment models that will suit them economically. With the dawn of cloud computing, BI platforms are deployed through SaaS models which are largely beneficial for small business and midsized enterprises. So these markets started to grow rapidly. The increasing usage of social media is also providing with attractive opportunities in the BI market landscape. Right now the BI market is at cross roads with implications from big data and mobile movement and analytics.
There are two interrelated factors that are paving the way for the simplification of Business Intelligence Market for business users. One is the increasing usage of mobile devices, which provide access to proprietary data remotely and within the workplace. Several vendors have developed dashboards and Data Visualization techniques specifically for these devices, which will likely to continue due to the lowered cost of enterprises encouraging employees to work with their own handsets – or simply issuing them instead of traditional computers. By providing tools that work with these autonomous devices, BI vendors are subtly encouraging executives to utilize these capabilities without third-party intervention. The emergence of inexpensive, reliable data discovery tools for the desktop and handset will fuel BI’s progression from a dedicated search for a particular piece of information to a readily accessible component of the daily elucidation of pertinent facts related to operational processes.
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