Research and Markets: Global Business Intelligence (BI) and Analytics Platforms Market 2014-2018
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/245qzn/global_business) has announced the addition of the "Global Business Intelligence (BI) and Analytics Platforms Market 2014-2018" report to their offering.
“Global Business Intelligence (BI) and Analytics Platforms Market 2014-2018”
The analysts forecast the Global BI and Analytics Platform market to grow at a CAGR of 8.93 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing volume of information generated from enterprise applications. The Global BI and Analytics Platform market has also been witnessing the increasing adoption of SaaS-based BI and analytics platform. However, the difficulty in validating the accuracy of the underlying data could pose a challenge to the growth of this market.
Key vendors dominating this space are IBM Corp., Oracle Corp., SAP AG, and SAS Institute Inc.
Other vendors mentioned in the report are Actuate Corp. (The Birt Company), Birst Inc., Board International S.A., FICO, GoodData Corp., Infor Global Solutions, Information Builders, LogiXML Inc., Microsoft Corp., MicroStrategy Inc., Panorama Software, Pentaho Corp., Salient Management Co., Tibco Software, and Tableau Software.
Commenting on the report, an analyst from the team said: The adoption of SaaS-based BI and analytics platform applications is expected to grow rapidly in the near future. The traditional on-premise deployment of BI tools is slowly being taken over by single and multi-tenant hosted SaaS. These solutions are increasingly becoming popular options for deploying enterprise software. In addition to the increased adoption of SaaS-based solutions by SMEs, they are gradually being used by large enterprises. The software available over the internet in a subscription model provides increased flexibility to organizations using SaaS-based software. Furthermore, many vendors in the market have begun to offer their BI and analytics platform tools through the SaaS model to expand their services and enter new markets. In addition, the difficult economic times have required organizations to adopt SaaS as a cost-cutting alternative.
According to the report, one major driver is the increasing volume of information generated from enterprise applications. This data must be accessible as part of or as an extension to the corporate information framework and be made available for analysis and decision making. BI and analytics platform tools are useful in the retrieval and analysis of this growing amount of diverse data.
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