Business Intelligence Platform: What should we expect 5 years from now
Businesses are now gathering a big volume of data from all sectors, and they are taking advantage of these by getting into business intelligence software and tools to help them deal, analyze and understand all of the data they are getting. Business intelligence and data analytics help business leaders come up with better business decisions, as well as give them useful insights from the data they have and help their businesses be more competitive.
Research and Markets has come out with a new report. Some of the things they found out include:
- Business intelligence platform is expected to become a $14.2 billion market in 2019. That represents a forecasted CAGR of almost 10 percent from the market size of around $9.0 billion in 2014.
- Small and medium enterprises and larger ones are getting into business intelligence platforms so that they could have some sort of business intelligence or data analysis solutions that are customized to their needs. This ultimately helps them solve a variety of business problems for them. Some of the reasons why businesses are increasingly becoming interested in business intelligence platforms include:
- Generating high amounts of data volumes.
- Cost effectiveness of business intelligence platforms and other associated technologies.
- Low cost of storing data.
- More competition.
- The necessity of making better decisions for the business,
- Mobile business intelligence
- But there might be problems along the way. For one, it is not all smooth sailing for business intelligence platforms. The industry will suffer setbacks caused by the lack of skilled workers as well as the complexity of the technologies involved. Both of these factors would slow down the growth of business intelligence platform industry.
- Asia Pacific, Europe and North America would take a big piece of the pie as far as usage and adoption rates are concerned. Business intelligence platforms would also get a lot of interest from Africa, the Middle East and Latin America, with businesses in these regions slowly considering adopting business intelligence platforms for their operations. That would mean that there are a lot of opportunities for the vendors in this space to make money in the market.
Some of the notable companies that the report that are seen to be major players in the business intelligence platform are Micro Strategy Incorporated, IBM Corporation, Oracle Corporation, Microsoft Corporation, QLIK Technologies Inc., Pentaho Corporation, Tibco Software, Inc., SAS Institute, Inc., Tableau Software, Inc., and SAP Ag.
The good news is that Four Cornerstone offers Oracle consulting in Dallas. So if you want to get into the business intelligence platform space or if you want to fine-tune your business intelligence today, you can call us and get ahead of your competitors. We can provide you with a team of Oracle experts who can help you get your business intelligence efforts off the ground. We can help you with everything you need, from Oracle software licensing resell in Dallas to deployment and maintenance, as well as training and education. Contact us now!
Photo by Ken Teegardin.