Zion Research has published a new
report titled “Global Business Intelligence Market by Mobile BI, Cloud BI, and
Other Applications: Global Industry Perspective, Comprehensive Analysis and
Forecast, 2015-2021.” According to the report, the global business intelligence
market accounted USD 16.33 billion in 2015 and is expected to reach USD 26.50
billion by 2021, growing at a CAGR of around 8.4% between 2016 and 2021.
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Business Intelligence defined as
the process of analyzing huge volumes of enterprise data usually stored in
large databases such as data warehouses. BI detects the hidden trends and
patterns in data, track the business performance and assist the business users
to make improved decisions based on real-time data. From a marketing stand
point, Business Intelligence can be described as a strategic management tool
that can support executives and business users to make improved decisions that
are necessary for day to day operations, tactical and strategic planning.
Applying BI to each of department
like (Marketing, HR, Payroll, CRP etc) can provide ultimate flexible analysis
of raw data. BI provides end to end approach to store and present data. For
example, Companies can compare their respective revenues per quarter or month
with peers, so that they can retrospect there strategic decisions or policies.
Business intelligence helps companies understand their customers. This is
possibly the most important reason for business intelligence.
A good business intelligence tool
will allow employees to gain imminent into key marketing questions such as that
are best customers, how sales can be increased through new sell opportunities,
or what products are trending. With business intelligence tool companies can
plan marketing campaigns accordingly based on real data. Business Intelligence
helps companies make better decisions. Other drivers are like the software will
improve the visibility of processes and make it possible to identify any areas
that need development.
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By type segment, the mobile BI
(MBI) segment accounted for more than 20% of the global Business Intelligence
market in 2015. Mobile BI enables the mobile workforce to get business insights
by analyzing data with the help of applications for mobile and smart devices.
The growing smartphone adoption is likely to appear as a key driver for this
segment during the forecast period. Mobile business intelligence is software
that extends desktop business intelligence (BI) applications so that they can
be used on a mobile device. MBI applications optimize traditional BI reports so
they can be viewed easily on small screen. It is ideal for displaying key
performance indicators (KPIs) and alerts on small screens with simple charts,
graphs, and spark lines. An additional advantage of MBI is that it allows data
that is captured by the mobile device to be incorporated on-the-fly so that
reports are currents and mobile workers can make informed decisions in real
time.
By deployment segment, the
on-premise segment accounted for 86% of the market share in 2015. However, this
segment is projected to witness a decline in its shares by the end of the
forecast period. In this segment, software is installed on the server of an
enterprise. It requires more protection but is highly secure and easy to
manage.
North America is expected to be
the largest market for BI due to major growth in the market. It accounted for
around 56% of the markets share globally. Asia Pacific is expected to manifest
high-growth over the foreseeable future due to rapid industrialization in the
region and growing number of start-ups focusing on Smartphone application
development. Major industry participants in this include Microsoft, IBM,
Oracle, Microstrategy, GoodData, Targit, SAS, SAP, and Tableau Software among
others.
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Business Intelligence Market:
Technology Segment Analysis
Mobile
BI
Cloud
BI
Social BI
Business Intelligence Market:
Deployment Segment Analysis
Cloud
BI
On-Premises BI
Business Intelligence Market:
Region Segment Analysis
North
America
U.S.
Europe
UK
France
Germany
Asia
Pacific
China
Japan
India
Latin
America
Brazil
The Middle East & Africa
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provides forward-looking insight for thousands of decision makers. Zion Market
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