The report entitled “Global Business Intelligence and Analytics Market: Size, Trends and Forecast (2018-2022)” provides an in-depth analysis of the business intelligence and analytics market including detailed description of market sizing and growth. The report provides analysis of the market by value, by segments and includes segment analysis as well.
Moreover, the report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global business intelligence and analytics market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The major players dominating the business intelligence and analytics market are IBM Corporation, Microsoft Corporation, SAP SE and SAS Institute. The four companies have been profiled in the report providing detailed analysis of their financial information and business strategies.
Business intelligence and analytics is a combination of two major segments, which includes business intelligence and analytics. The concept of analytics was introduced in business intelligence due to the increasing need for detailed analysis of large volume of structured and unstructured data.
Business Intelligence (BI) is a set of processes and technologies that helps to convert raw data into meaningful insights for business organizations and various other end users. BI makes a direct impact on an organization’s strategic and operational business decisions. BI enables fact-based decision making using historical data rather than relying on assumptions. Analytics is concerned with turning raw data into insights and predictions about the future for better decision making. Analytics provide businesses with meaningful information which may otherwise be hidden within large quantities of data.
The global business intelligence and analytics market has been segmented on the basis of types, services, deployment type, end users and end-use verticals. The market can be segmented on the basis of type into spatial and location analytics, advanced and predictive analytics, cognitive/AI (Artificial Intelligence), content analytics and end-user query and reporting analytics. On the basis of services, market can be divided into professional services and managed services and on the basis of deployment type, the market is fragmented into on-premise and hosted (cloud based). Users of the business intelligence and analytics market include small & medium enterprises and large enterprises and various end-use verticals of the market are healthcare, IT and telecom, retail, education etc.
The global business intelligence and analytics market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2018-2022). The business intelligence and analytics market is expected to be driven by various growth enhancing factors such as growing trend of big data, increasing demand for enterprise resource planning (ERP), growing relevance of internet of things, increasing demand for real time data analysis etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are irrelevant and bad quality data and the shortage of skilled workforce.