Revenue from business intelligence software – including BI platforms, analytic applications and corporate performance management software – in Australia is forecast to grow over 11 percent to 406.4 million in 2012 according to Gartner.
Revenue from BI software worldwide, according to Gartner, is forecast to reach 12.5 billion in 2012, up 7 percent over the prior year. The opportunity in the Australian market and the BI market worldwide comes on the heels of the dramatic increase in big data (large datasets, which, enables marketers to better identify subtle patterns and trends). The challenge comes obviously in handling big data and accurately analyzing it.
“The extreme volume, velocity and variety of data will add stress to current approaches to BI and are increasingly capturing the attention of both the BI industry and buyers,” said Gartner managing vice president Ian Bertram.
The significant challenges of big data in the BI market could deepen a widening BI maturity gap between organizations in Australia according to Bertram. “In Australia, many organizations are still focused on foundational BI concepts that revolve around strategy, skills, competencies and process,” he said. “Then we have organizations looking for more advanced analytics capabilities to build on those foundations. This is really where they need to be to set themselves up for the future.”
Related Reading from Website Magazine:
- Domain Name Registration Down Under