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Global business intelligence market: $20.8 billion industry estimated by 2018

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Business Intelligence Market: Worldwide Trends, Market Forecasts and Analysis 2013-2018 - a new market research report on companiesandmarkets.com

 

PR-Inside.com: 2014-04-17 03:17:04
The global business intelligence market is suggested to have reached a value of $13.98 billion at the beginning of 2013, and is forecast to hit a total of $20.81 billion in 2018. This suggests a CAGR growth rate of around of 8.28%.Business Intelligence systems and tools play a key role in the strategic planning process of organizations. Among all regions, the North American market captures a major share of 49% of the global BI market.

In current times, organizations, as they do business, have to collect and deal with large volumes of data from their operations. The data from various sources has to be stored, consolidated and abstracted for future references and strategic planning of business processes. This creates many data management challenges. BI tools and systems help organizations to address these challenges.

Business Intelligence and Analytics tools have become a necessity to business organizations to make informed decision from data gathered from different and dispersed sources. Business Intelligence tools play a vital role in the simplification of the complex operational activities such as tracking and monitoring of business activities, analysis and presentation of the large volume of transactions carried out by business activities, to control the execution of strategy through effective monitoring of the key performance indicators (KPI), and by assisting in the slicing and dicing of the data that is needed for the decision making processes.

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