Business intelligence (BI) vendor, QlikTech, has generated total revenue of $US108.1 million in 2011, an increase of 33 per cent compared to the fourth quarter of the previous year.
QlikTech made the announcement during the Gartner Business Intelligence & Information (BIIN) Management Summit in Sydney, where the analyst firm, Gartner, forecast that Australian business intelligence software revenue will grow by more than 11 per cent in 2012.
Despite Gartner forecasting positive growth in the sector, QlikTech has set its sights higher.
“We see more rapid growth in some BI areas to others, so that number would not be enough for us,” QlikTech vice-president of global field marketing, Henry Seddon, said.
“We’re actually looking for around 25 per cent year-on-year growth.”
Despite 2011 being an eventful year for IT, mired in economical uncertainty stemming from Europe, Qliktech grew every quarter with full year 2011 total revenue of $US320.6 million.
“This is an increase of 42 per cent compared to 2010,” Seddon said.
Seddon also points to how Gartner is predicting that “data discovery” is a new and growing area in the BI space, which he sees growing quicker than the 11 per cent figure that Gartner used for the entire BI space.
“It’s a new area that Gartner is looking at and we’re the leading vendor in that area, so I think that explains our growth,” he said.
After a strong 2011, Seddon is quick to point out that QlikTech is not resting on its laurels, and that is it already eyeing further opportunities for growth in the next six to twelve months.
“Looking at the number of people that have iPads or other devices, it’s a massive opportunity for companies such as us to deliver business intelligence in a whole new way to users, so they can use it anywhere at any time,” he said.
Seddon also expects “social BI”, the ability for people to share ideas and information with each other within a BI footprint, to get further traction in the market.
“Sector wise, it’s the usual suspects for us,” he said.
“Financial services and manufacturing are huge, and a lot of our customers are in the mid-market.”
According to Seddon, the attraction of the Garner BIIN Summit for QlikTech was the opportunity to meet new customers and prospects at the “premiere BI event,” as well as to learn more about some of the trends that Gartner sees in the BI space.