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Social Business Intelligence Market With Top Companies like IBM Corporation, TIBCO Software, Inc., SAP SE, Logi Analytics Inc., Tableaue Software
Social Business Intelligence
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Key players operating in the global social business intelligence market are IBM Corporation, TIBCO Software, Inc., SAP SE, Logi Analytics Inc., Tableaue Software, Inc., MicroStrategy, Inc., QlikTechnologies, Inc., Alteryx, Inc., and Microsoft Corporation.
Market Dynamics- Restraints
The complexity associated with mapping data and data governance integrity while cloud adoption is expected to restrain the growth of the global social business intelligence market during the forecast period
Enterprises carry out multiple operations and have a large volume of different data including that of the supply chain, ERP running financials, and other functions. These enterprises are required to determine and plan where data is, in order to share and integrate information. Mapping data is prone to error, time-consuming, and complex tasks in many integration processes.
Challenges associated with security is expected to hinder the global social business intelligence market growth over the forecast period
In social business intelligence systems, one of the prime challenges faced by many organizations while adopting cloud services is data security. As demand for cloud-based services is growing, most organizations are shifting their workloads on the cloud from on premise-based, therefore security breaches have increased.
Global Social Business Intelligence Market - Impact of Coronavirus (Covid-19) Pandemic:
Due to the Covid-19 pandemic, many industries witnessed a significant shift in their business. There is a significant impact on the social business intelligence market as well. Software companies across the globe are using business intelligence tools to analyze the data to understand consumer behaviors and market trends. Due to Covid-19 demand for these tools is increasing as companies are using insights generated from these tools to identify new financial threats and opportunities. For instance, IBM Corporation’s products such as IBM Watson Tone Analyzer and the IBM ILOG CPLEX are used by companies to analyses the behavior of consumers and predict the ongoing effects of corona for next quarter.
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Spatial data is adding to the complexity/simplicity of BI and analytics. For end-users, it is beneficial to mash-up location-based intelligence with other data. The users are able to map marketing strategies, locate geographic sites for restaurants or cellular towers, etc. the challenge faced by enterprises to deploy BI is that these systems are not designed to be implemented on existing systems of the spatial data of the enterprise. Advanced BI vendors are gradually working on the issue, but traditional BI is not compatible when it comes to spatial data. For instance, in October 2014, Luciad, a Belgium-based software developing company, designed time dimension-based business intelligence to enhance the location and its interactive user conference for BI.
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