Press release
Business Intelligence and Analytic Tools Market - Cloud-based Solutions to Determine Growth Trajectory
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The dynamic nature of the modern corporate sector has necessitated large-scale use of business intelligence analytic tools in recent years, as streamlining the various operations within an enterprise to deliver a specific target has become crucial. Analysis derived from the results of business intelligence analytic tools helps companies monitor their operations in greater detail than would otherwise be possible, which enables well-informed decision making.
The report segments the global business intelligence analytic tools market by product type into CPM suites, business intelligence platforms, content analytics, advanced and predictive analytics, and analytics applications. The key end users of business intelligence analytic tools include the BFSI, IT and telecom, healthcare, retail, government, education, energy, media and entertainment, and manufacturing sectors. By deployment type, the global business intelligence analytic tools market is segmented into on-premise and hosted or cloud-based business intelligence.
The rising demand for cloud technology, due to the convenience it provides in terms of storage and easy retrieval, is likely to be a key driver for the global business intelligence analytic tools market in the coming years.
Big data is also likely to play a vital role in the development of the business intelligence analytic tools market in the coming years. Due to the widespread digitization of business processes, the volume of data generated from even everyday business processes is rising steadily. This has necessitated the adoption of big data software to structure the data according to the needs of the enterprise. This is likely to remain a key driver for the global business intelligence analytic tools market, as digital resources are likely to have a significant impact on the trajectory of businesses in the coming years.
On the other hand, the key restraint on the global business intelligence analytic tools market is the lack of trained personnel to operate the systems. Though the rising demand for training is likely to ameliorate the impact of this factor on the growth of the business intelligence analytic tools market, it is likely to constrain the adoption of business intelligence analytic tools in the short term.
The report takes a close look at the geographical breakdown of the global business intelligence analytic tools market by examining the market’s performance in North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. The report also examines the competitive landscape of the business intelligence analytic tools market by profiling leading players such as Oracle Corporation, IBM Corporation, Qlik Technologies Inc., Microsoft Corporation, SAS Institute Inc., Information Builders, SAP SE, Tibco Software, and Tableau Software Inc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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