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Partnerships, Collaborations, and Agreements were the Key Strategies Adopted by Industry Players to Accomplish Development in Self-Service BI Market
Self-service Business Intelligence (BI) is a type of analytics in which business users can access business data and perform queries to generate insights using this data with no or minimal support from IT staff and data scientists. It is often considered as a Do It Yourself (DIY) analytics tool with a basic structure of data model, which can provide benefits such as ease of use and transparent business process. It helps companies cut inevitable losses, gain operational insights, and grab new opportunities.
This business sector includes an expansive number of vendors providing software and services, for example, Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), SAS Institute (U.S.), Tableau Software (U.S.), MicroStrategy (U.S.), TIBCO Software (U.S.), Qlik Technologies (U.S.), and Zoho Corporation (U.S.). Players in this business sector have embraced different strategies to extend their worldwide presence and market share. Partnerships, collaborations, and agreements were the key strategies adopted by industry players to accomplish development in the market. Apart from these new product launches, mergers & acquisitions, joint ventures, and expansions are some of the other significant strategies embraced by the market players in the self-service BI market.
Microsoft Corporation is one of the eminent leaders in the self-service BI market. The organization primarily serves the regions of the North America, Asia-Pacific (APAC), Latin America, Middle East and Africa (MEA), and Europe. Microsoft’s long-term strategy leans more towards inorganic growth strategy, where the company looks forward to expanding its market with partnerships and collaborations. In October 2016, Microsoft and Alteryx Inc. collaborated in order to integrate Alteryx’s Analytics platform with Microsoft’s Power BI. The integration would enable Alteryx users to view the results of their data blending and advanced analytics directly in Power BI.
The fundamental objective of IBM Corporation is to meet every industry client requirement and in addition provide new advancements to BI with self-service BI tools. The organization serves clients across different industries, for example, communications, Banking, Financial Services, and Insurance (BFSI), energy & utilities, hospitality, healthcare, retail, travel & transportation, metals & mining, government sector, media & entertainment, and education. IBM Corporation is headquartered in the U.S., with presence across 175 countries worldwide. IBM Corporation is considered as one of the strongest suppliers for self-service BI tools. The organization follows both organic as well as inorganic strategies to deal with the expansion of its market share. Self-service BI products offered by IBM basically include Cognos Analytics and IBM Watson Analytics. In April 2016, Datawatch Corporation partnered with IBM to deliver better and faster data access and the self-service data preparation capabilities offered by Datawatch to IBM Watson Analytics and IBM Cognos Analytics users.
The global self-service BI market is expected to grow from USD 3.61 Billion in 2016 to USD 7.31 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 15.2%.
Self-Service BI Market by Type (Software, Services), Application (Sales & Marketing Management, Customer Engagement & Analysis, Predictive Asset Maintenance), Business Function, Application, Deployment Model, Vertical, & Region - Global Forecast to 2021
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