The Business Intelligence (and Analytics) Explosion

Pete Prestipino — Thu, 21 Feb 2013 18:15:00 GMT

According to recently released figures from analyst firm Gartner, the market for BI (business intelligence) software is expected to hit $13.8 billion in 2013.

While the pace of growth has seemed to slow, Gartner predicts that BI market spending globally will rise by 7 percent this year, compared to 16 percent growth in 2011. Total spending is expected to hit $17.1 billion by 2016 according to Gartner.

"BI and analytics have grown to become the fourth-largest application software segment as end users continue to prioritize BI and information-centric projects and spending to improve decision making and analysis," said Dan Sommer, principal research analyst at Gartner. "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."

Biz Intelligence Trends Down Under

Pete Prestipino — Wed, 15 Feb 2012 17:30:00 GMT

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.”

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The Business Intelligence (and Analytics) Explosion

Biz Intelligence Trends Down Under