For those who are unfamiliar, DigitalEcono can define the business intelligence as a set of tools and techniques used to transform raw data into meaningful information for critical business decision-making process.
In fact, it helps users analyze data, receive information from various
channels or business activities, and use the information in organizational
opportunities and to improve business efficiency.
The segmentation of business intelligence market includes: traditional BI,
mobile BI, cloud BI, and social BI.
When it comes to new trends
related to the business intelligence market, DigitalEcono observes that, cloud
BI has evolved as an perfect model to serve as a core platform for many
enterprise applications.
SMEs adopt cloud BI which
gives them access to the benefits of BI and at the same time helps them save
costs and time.
According to Technavio
Research, the traditional BI segment accounted for the majority of market in
2015, with close to 60% market share.
The Americas was categorized
as the largest BI market in 2015; the high adoption of cloud BI is the major
contributor to the growth of this market, recording revenue of nearly USD 6
billion in 2015.
The three major factors
driving the global business intelligence market according to Technavio analysts
are: