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 the benefits offered by business intelligence and analytics software.
Emerging trends including but not limiting to, rising competition, the 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. On the other hand, incorporation of such trends in different mobile applications would create greater opportunities for the business intelligence and analytics software.
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.
Prominent market players are also seen acquiring new companies or local market players to maintain their competitive edge. Other business strategies favored by the companies include constant upgradation, joint ventures and collaborations.
Prominent market players discussed in the market research report are TIBCO Software, MicroStrategy, Tableau Software, OpenText, IBM, Oracle, Microsoft, SAP, SAS and many others.
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KEY BENEFITS FOR STAKEHOLDERS
- The market research report provides an integrated information on the major drivers, restraints and opportunities influencing the industry growth during the forecast period.
- The study further drills down to produce data volume by components, end customers and demography.
- SWOT analysis of major brands, highlights weaknesses, strengths, opportunities and threats. The data proves effective for business owners planning on designing their marketing and branding strategies.
- Region wise business performance discussed in the market research report would be valuable for enterprises planning to explore new areas.
- The report not only examines the market dynamics but also takes a closer look at the growth rate and industrial chain structure.
- Study further weigh up on the prominent market players and what they are doing different to position their product in the already crowded marketplace.
- Assessment of upstream and downstream market also forms an important part of the report.
- TIBCO Software
- Tableau Software
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