Why the BI Market Should Not be Underestimated
Bangalore: Business Intelligence market is said to be a potential market with hundreds of request from businesses to help evaluate them with business intelligence applications. In 2011 Gartner tagged BI as the second-fastest growing market with a 16 percent growth over the years. However, IDC projected that the market will reach $33.9 billion by the end of 2012.
According to Michael Koploy, ERP Analyst at Software Advice, there are three trends within BI and the users who use analytics applications will impact the long-term potential of the business intelligence market. He suggested these points in business2community.com as-
1. BI for small business owners: BI with inexpensive and easy to use applications has become popular among the small business owners. Since small businesses are capable of handling many things at a time, they face the challenge of analyzing these data but the use of new applications has solved these problems. They can combine this data from multiple systems onto a single dashboard.
Easy to use application such as Tableau easily helps to slice-and-dice the data in several ways within a few minutes. This tableau is not only easy to use, but an inexpensive application also.
2. Use of Visualization and Dashboards by managers: Any business whether small or big, needs to be managed and measured. And for measuring this data, there are tools which offer dashboard and visualization. Managers can use these tools to quickly choose the metrics they need to improve and access the point where they need to improve. This will help to increase the adoption of BI and improve the usage of BI tools in the organization.
3. BI On-The-Go: Chief Executive of MicroStrategy, Michael Saylor, writes in his book, The Mobile Wave, he hopes that around 5 billion smartphones will be in-use within 2 years, and 5 billion tablets within 10 years. Mobile had a strong impact on the business. Retailers can keep a track on their team activity through dashboards while they are traveling, Directors and Executives can check the sales numbers and create ad hoc even when they are outside the organization.
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