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Indian BI Software Market to Touch $101.5 Million

By SiliconIndia   |   Thursday, 11 October 2012, 12:39 Hrs
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Bangalore: Indian business intelligence (BI) software revenue is forecast to reach US$101.5 million in 2012, a -17.53 percent increase from 2011 revenue of $86.4 million (Fig 1) according to Gartner, Inc. This forecast includes revenue for BI platforms, analytic applications and corporate performance management (CPM) software.

Gartner analysts are examining the key issues facing the BI market during Gartner Symposium/ITxpo, which is taking place in Goa through Friday.

 “During the next 10 years, the explosion of information will be the biggest opportunity for BI, and also its biggest challenge,” said, Bhavish Sood, research director at Gartner. “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.”

BI software revenue in India is projected to total US$67.7 million in 2012 and grow to US$111.2 million by the end of 2016 (see Table 1). BI will remain one of the fastest growing software markets, despite sluggish economic growth in some regions, as organizations continue to turn to BI as a vital tool for smarter, more agile and efficient business.

India BI Software Software Forecast 2012-2016 (Millions of Dollars)

Gartner (September 2012)

 “There is a widening BI maturity gap between organizations in India at the moment. Many organizations are still focused on foundational BI concepts that revolve around strategy, skills, competencies and process,” Mr. Sood said. “At the same time, there are 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.”

The maturity of Indian enterprises varies from excel spreadsheet-based analysis to sophisticated digital media analytics done for TV shows such as “Satyamev Jayate”. Gartner analysts said the success of business intelligence efforts in organizations will depend on how they handle big data and new styles of advanced analytics.”  

Big Data

BI efforts flourish with large datasets. The larger the dataset, the easier it is to uncover hidden subtle patterns and trends and, therefore, opportunities that are likely to evade the competition. BI derived from big data is crucial to business competition and will depend on the evolution of BI competencies and data warehouse architectures.

“It’s not just traditional BI performed on bigger datasets,” said Mr. Sood. “It also tackles data variety, velocity and complexity. The business requirement to conquer and mine big data is here to stay for most enterprises.”

Advanced analytics

While BI serves a distinct purpose for sharing, summarising and manually exploring data and metrics, more advanced analytics can aid and even automate decision-making. Pending a convergence of these capabilities, Gartner advises organizations to consider BI and advanced analytics distinctly from one another, recognizing the advantages and unique use cases of each.

Next generation analytics will expand beyond measuring and describing the past to predicting what is likely to happen and optimizing what should happen based on an increasingly varied set of data sources and types. The addition of mobile, social and collaborative technologies to advanced analytics tools will give a broader set of users insight for decision making when and where they need it.

 “Many organizations in India are struggling on how to use output from analytical tools to input into strategy,” said Mr. Sood. “Lack of skills will be the biggest challenge to success.”

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