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Dublin, July 17, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/4pm25n/global_business) has announced the addition of the "Global Business Intelligence Market 2015-2019" report to their offering.
The analysts forecast the global business intelligence market to grow at a CAGR of 8.25% over the period 2014-2019.
Business intelligence (BI) helps analyze data, receive information from various channels or business activities, and use them to identify opportunities and enhance efficiency. Social media and social CRM generate a huge volume of data. This data needs to be compiled and interpreted, so that it can be used for marketing and strategizing purposes. BI solutions, when integrated with analytics, are capable of identifying and analyzing patterns from a large amount of unstructured data. In most cases, BI applications collect data from data warehouses.
Social media was not advanced enough to integrate with old software and help organizations a decade ago. However, it has evolved to provide better solutions for integrating with BI software, which is enabling organizations to share a detailed description of their products and services with potential customers worldwide. Currently, many large organizations and SMEs are increasing their social media presence to improve their ROI.
According to the report, businesses worldwide are facing increased competition because of pricing pressures and the rise in customer demand. This is motivating enterprises to speed up their operations. BI tools provide real-time information that can help organizations avoid process delays and centralize their functions to improve market response and decision making. In addition, to achieve a competitive advantage and improve customer-facing strategies, organizations need to transform data into actionable intelligence. Many organizations are using BI tools to increase their sales, as these tools help organizations efficiently transform sales, service, marketing, and customer data into useful information.
Further, the report states that the market faces challenges such as data connectivity and integration issues, data validation difficulties, a shortage of skilled BI professionals, and the difficulties of managing critical business demand.
To calculate the market size, it considers the revenue generated through the following.
- Software licenses and subscriptions
- Software implementation cost
- Technical support
- Maintenance and professional services
The report covers the following segments based on technology:
- Traditional BI
- Mobile BI
- Social BI
- Cloud BI
The report covers the following segments based on deployment mode:
- Cloud BI
- On-premises BI
- SAS Institute
Other Prominent Vendors
- Actuate (OpenText)
- Board International
- Infor Global Solutions
- Information Builders
- Logi Analytics
- Panorama Software
- Pyramid Analytics
- Salient Management Company
- Tibco Software
For more information visit http://www.researchandmarkets.com/research/4pm25n/global_business
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