Global Business Intelligence Software Market to Reach $12.4 Billion
Updated · Jul 13, 2010
Global Industry Analysts (GIA) has announced the release of its global report on the Business Intelligence Software market. The global business intelligence (BI) software market is projected to reach $12.4 billion by the year 2015, driven by the growing need to empower all stakeholders of businesses with right information at the appropriate time. As mentioned in the company’s news release on PR Web, Predictive analytics, column-based database, text analytics and business activity processing are some of the technologies that offer enormous growth prospects for the market.
“North America and Europe dominate the global BI software market, as stated by the new market research report on Business Intelligence Software. Growth in the BI market is supported by the emergence of new categories of BI tools. Predictive analytics, column-based database, text analytics and business activity processing are some of the technologies that offer enormous growth prospects for the market. Decision-makers are increasingly employing BI software to resolve a wide range of issues such as latency in receipt of reports, unavailability of relevant content and difficulties in data analysis without the involvement of IT. From the perspective of Information Technology (IT), BI software acts as the enabling technology for providing knowledge workers with timely access to data for analysis and reporting purposes.
“Though the demand for BI software emerges from all industries, the healthcare sector is expected to witness highest adoption in the short run. BI tools allow healthcare organizations to implement real-time decisions at strategic, operational, and tactical levels, through the use of data mining and advanced analytics tools. BI tools reduce time involved in reporting by offering a single, integrated enterprise solution.”