Software application developed to acquire, convert, analyze and report data for BI (business intelligence) are known as business intelligence and analytics software. Furthermore, these tools are used to read information that have already been stored, not necessarily in data mart. Besides this, the tool helps front line users to design reports as well as perform analytics, ensuring less dependency on information technology department
Rapid deployment, power data mining, performance management, ultimate optimization and curbing implementation challenges are some of benefits offered by business intelligence and analyticssoftware.
Emerging trends including but not limiting to, rising competition, popularity of cloud delivery model and data proliferation have contributed to the growth of the market. In addition, tremendous surge especially in the mobile users have further added value to the sector.
However, lack of awareness about the benefits of the software has hampered the progress of the market.
The market is further segmented based on services, deployment model, size of the organization, industries and geography. Services assessed during the study consists of content analytics, professional services, managed services and many others.
Popular deployment model evaluated in the market research report are on premise and cloud. The market research report indicates that both small and medium size enterprises and large enterprises have backed the use of business intelligence and analytics software.
Industries served by these solutions include healthcare, BFSI, media and entertainment, energy and power and many others. Regions anticipated to show tremendous growth are North America, Europe, Asia -Pacific and LAMEA.
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