Analyst: Business intelligence market set to grow
- 18 February, 2011 12:51
The local business intelligence (BI) software market is set to rise by 12.7 per cent year-on- year to US$347.6 million in 2011, according to analyst firm, Gartner.
This is higher than the forecast global rise of 9.7 per cent, Gartner said.
The findings were reported in the analyst firm’s latest enterprise software forecast, which claimed CIOs had ranked BI software as the fifth most important technology priority this year.
“This market segment has remained strong because the dominant vendors continued to put BI, analytics and performance management at the centre of their messaging,” Gartner managing vice-president, Ian Bertram, said in a statement.
Bertram indicated organisations would continue working on their BI projects to help cut costs, improve productivity and agility down the line.
But the report also claimed CIOs were shifting their priorities and are starting to pick BI software for different reasons.
It said demand for easy and flexible solutions was starting to overrule IT departments along with the desire for more control and standardisation.
Main factors driving BI software growth included increased consumerisation and ease of use of the software; the ability to analyse large amounts of diverse information and to make better decisions using BI solutions.
“With ‘ease of use’ now surpassing ‘functionality’ for the first time as the dominant BI platform buying criterion, vocal, demanding and influential business users are increasingly driving BI purchasing decisions, most often choosing easier to use data discovery tools over traditional BI platforms — with or without IT's consent,” Bertram said.