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Definition of Business Intelligence:
Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers. Source here
There are several researches and predictions made that give info about how the market will grow in the following years.
According to Gartner, $14.4B was spent worldwide on Business Intelligence (BI) and analytics enterprise software in 2013 and as Redwood Capital mentiones in its report the global Business intelligence market is expected to reach $20.81 billion by 2018
The global business intelligence market is growing at a CAGR of 8.25% over the period 2014-2019
Gartner also mentions that Business Intelligence Market in Asia Pacific is growing really fast. In Asia Pacific, the top four “megavendors” — SAP, Microsoft, Oracle and IBM — controlled 72.2 percent of the BI platform market in 2012, up from 65 percent in 2011. However, Gartner analysts said that business units increasingly prefer data discovery solutions, such as Tibco Spotfire, QlikTech and Tableau Software, while their counterparts in IT are still more comfortable procuring from megavendors. Additionally, in Middle East and Africa Business Intelligence market had received a growth of 11% in 2014.
The top 3 Business intelligence vendors in 2014: SAP (21,3% Market share), Oracle (14% Market Share), IBM (13% Market Share) according to matillion.com
Business Intelligence segments based on technology:
– Traditional BI
– Mobile BI
– Social BI
– Cloud BI
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