Business intelligence revenues to reach $475.6 million: Gartner
- 19 February, 2013 15:05
Investment by CIOs and IT managers in business intelligence (BI) software to improve decision making processes is driving the market to greater revenues than 2012, said analyst firm Gartner.
Gartner’s Forecast Analysis: Enterprise Application Software, Worldwide, 2011-2016, 4Q12 Update said that BI revenues are predicted to hit A$475.6 million in Australia during 2013, an increase of 9.5 per cent over 2012. This compares to global BI revenues , which are forecast to reach US$13.8 billion this year, a 7 per cent increase from last year.
According to Gartner Sweden principal research analyst, Dan Sommer, IT executives and business units are buying BI software for department and workgroup analysis.
"BI and analytics have grown to become the fourth-largest application software segment as end users continue to prioritise BI projects and spending to improve decision making and analysis," he said in a statement.
"As more and more information is generated, business models need reinvention, and it's increasingly clear that mastering analytics on big data will be a key driver for the next economic cycle."
However, Sommer also warned that in the near term, BI growth will be hampered by slowing sales cycles of multimillion dollar deals.
Growth in the BI software market his year and over the coming years is expected to be in the single digits, compared to 16 per cent in 2011.
However, Gartner predicted that the emerging data-as-a-service trend could aid the market for BI and analytics platforms.
According to Gartner US research vice president, Kurt Schlegel, enterprises will subscribe to industry-specific data services that bundle a narrow set of data with BI and analytics embedded.
“In time, most companies, regardless of their business model, will need to provide a data-as-a-service offering,” he said in a statement.
“Therefore, this trend has the potential to grow the market significantly as a range of vendors look to embed a BI and analytic platform provider's software capabilities into their offerings.”
Follow Hamish Barwick on Twitter: @HamishBarwick
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.
Why IT projects really fail
The enlightened CIO’s guide to running projects
Why IT projects really fail
Queensland government to provide 200 services online by 2015
Call Centers Suffer From Big Data Overload
Efficient Data Management in Three Simple Steps
Gartner reports that Business Intelligence, Mobile Technologies and Cloud Computing rank 1-2-3 as the 2013 Global CIO Technology Priorities. These three trends, labelled the “Perfect Storm” of new technologies, are transforming every link in the IT value chain, promising to deliver more efficient, responsive and dynamic IT operations. But this also means massive shifts in the way IT applications and services are created, deployed and maintained. This whitepaper aims to help you begin the journey to efficient modern data management
Best Practice in BYOD
The key trend affecting enterprise mobility today can be summarized in four letters: BYOD – Bring Your Own Device. As the number of end-users bringing devices into your organization grows, so does the need for an effective Enterprise Mobility Management (EMM) solution. Learn how to manage devices across multiple platforms all from a single, centralised and unified management console. Download for more!
5 Ways To Be More Productive At Work
Think back to the last time all your employees were in the office, at their desks, on the same day. It’s no surprise that you might struggle, between travel and off-site meetings, remote staff, flexible schedules and sick days. In today's competitive business climate, organisations need to maintain productivity and connectedness with their staff, despite not always being onsite. In this whitepaper, we look at five ways you can improve productivity, no matter where employees are.