(MENAFN- America News Hour) The emergence of Big data and the rising need to make precise decisions within a compressed period of time has helped Business Intelligence (BI) and Analytics gainspotlight in the last decade. Business Intelligence is defined as the process of analyzing huge volumes of enterprise data mostly stored in large databases such as data warehouses. It detects the hidden trends and patterns in data, tracks the business performance and assists the business users to make improved decisions based on real-time data. Business Intelligence can also be described as a strategic management tool that can support executives and business users to make better formed decisions that are necessary for regular operations, tactical and strategic planning.
Download Sample of This Strategic Report:
Technology
BI comprises all the aspects of market intelligence and analytics which helps transform raw data into relevant meaningful information for more efficient and precise decision making and strategy planning. Applying BI to each of department like (Marketing, HR, Payroll, CRP etc.) gives ultimate flexible analysis of raw data. BI provides holistic approach to store and present data.Business intelligence helps companies understand their customers.A good BI tool will allow employees to gain relevantinformation about key marketing questions such as who their best customers are, how sales can be raised through new selling opportunities, or what products are trending. With business intelligence tools, companies can plan exclusive marketing campaigns accordingly based on real data.
Market Dynamics
The major factors driving the BI market are growing adoption of cloud, increased use of advanced analytics, adoption of data-driven decision-making, and the emergence of Internet of Things (IoT)-enabled technologies.The market is growing at a pacing rate because of the transformation from traditional techniques for analyzing business data to advanced BI techniques and the massive surge in the volumes of structured and unstructured data.The development of IoT has propelled immense growth in data volumes.Rising demand of analytics and utility of IoT devices among SMEs are the main reasons for the generation of unstructured data.
Market Segmentation
BI can be segmented on the basis of Deployment (Cloud BI, On-premises BI), Type (Traditional BI, Cloud BI, Mobile BI and Social BI), Analytical use-cases, Function (Reporting, Data Mining, Data analytics, OLAP, Process and Text mining, CPM, DSS, Complex event processing etc.) , and vertical.
Geographic Analysis
Owing to the technological advancements and early adoption of BI solutions in the region, North America is projected to hold the largest share of the BI market. The market in Asia-Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, main reasons for which are increasing technological adoption and huge opportunities across verticals in the APAC countries, especially India, China, and Japan. Australia and New Zealand have also made significant leaps in the development and application of this technology.
Request For Full Report:
Key Players
The leading BI technology vendors are Microsoft Corporation, IBM Corporation, SAP SE, Oracle Corporation, Tableau Software, SAS Institute, Qlik Technologies, MicroStrategy, Information Builders, TIBCO Software, Pentaho, Yellowfin International, Sisense, Panorama, GoodData, and Targit .
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation.
Contact Us
Kenneth Research
Email:
Phone:+1 313 462 0609
Leonard Thomas
Leonard Thomas is an energetic and versatile freelance writer for 5 years, he pen down any type of articles and web content. he is a Cambridge University Business English Certificate (Europe Level) holder . he is analytical, enthusiastic and ingenious, with the essence to work variously, strives to emerge as a lucrative individual who has a grasp on market. Congenial Interpersonal skills and the competence to grab every single trivia with foolproof analysis is something he primarily posses .
MENAFN12042021004545010068ID1101902654
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.