Business Intelligence Market Intelligence

Industry Outlook & Drivers

Business Intelligence Global Market Outlook:

• The worldwide BI market is forecasted to grow at a CAGR of 7.6 percent and it is estimated to reach $22.8 billion by 2020
• Regions, such as Europe and North America, have high market maturity, while APAC is expected to experience high market growth
• Key drivers for BI include big data analytics, demand for data-as-a-service, and desire for personalized and self-service BI capabilities. However, implementation cost is a major constraint for the market, but the emergence of cloud deployments is expected to mitigate this

This section of the report also breaks down the global market facts and figures along with regional market values with market maturity indications. The growth figures of each individual market are also listed.

Supply Market Outlook

The regional markets are categorized based on maturity levels along with engagement strategy information. The strategies followed in each market level will differ greatly as can be seen in the full report. 

BREXIT - Impact on Business Intelligence

Impact Area: IT Service Providers and Buyers

• Talent crunch in specific skills for application development and maintenance, can have an impact on external consultants' billing rates
• The UK technology startups have a significant workforce from EU member states. The UK does not have sufficient math and science graduates to fill positions in application development and engineering

Impact Area: SaaS Service Providers

• The UK remains one of the key destinations for data centers serving EU clients. Despite the exit from the EU, UK companies have to abide by EU General Data Protection Regulations(GDPR) which is set to become law in May 2018

• In addition to local regulations, UK companies managing EU data need to adhere to more stringent GDPR regulations which are expected to drive compliance costs

Business Intelligence Market Analysis Overview

Business intelligence is an approach that enables access and analysis of information based on data, to improve and optimize business decisions and performance using a fact-based support system. The major components of business intelligence solutions are as follows:

• Data mining
• Statistical analysis and visualization
• Data warehouse/Data Mart
• Data sources

This part of the report also gives key information about the BI types and market share as well as capabilities and enterprise adoption rates.

BI Implementation

Requirement Analysis

• Requirement analysis from all stakeholders, including business and system users
• Source and system analysis

Infrastructure Evaluation

• Evaluates technology architecture, such as data architecture, SLAs, workload modeling
• ETL architecture and database design

Design

• BI/OLAP report design
• Metadata solution design
• ETL and data quality management
• Logical and physical database design

Development

• Backup & recovery, failover, and maintenance scripts
• Develop report, delivery mechanism, user interfaces

Testing and Deployment

• Create a test environment and conduct integration/system/UAT testing
• Training and beta testing and final & complete deployment

Global BI - Market Maturity

It is very important to properly assess the level that each regional market is at to understand the finer aspects of doing business in the market. The business intelligence size, market maturity of the regional markets, their levels of implementation of BI as well as the maturity of the different stakeholders is detailed in the full report. The key suppliers for each region are also listed. 

Global BI - Industry Trends

• Mobile BI, data visualization and advanced analytics are top drivers of BI market
• More than 50 percent of large enterprises will have access to self-service BI tools for real-time data and better analysis

There is a significant technology shift in BI and analytics platforms as observed below:

• Data analysis has extended to free-form text exploration, rather than being restricted to structured ad hoc reporting and analysis, based on a predefined model
• Content authoring is more business-user driven 
• The emergence of cloud has led to greater adoption led by the line of business managers as opposed to IT
• Dashboards, data visualization, analytics databases/platforms, and BI/OLAP tools are the major functionalities in a BI solution, with maximum utilization in an enterprise.      Actionable insights are being delivered as intuitive dashboards through a seamless sharing and collaboration environment
• Self-service BI capabilities driven by global search and guided navigation have facilitated faster turnaround times for line of business managers
• IoT and BYOD have increased the data volume exponentially and are emerging trends in BI solution
• It is expected that by 2020, there will be 45 billion connected devices and a 42-percent increase in data volume every year, which poses a huge business opportunity for the BI market

The business intelligence and analytics market size as well as the growth potential are illustrated region-wise. 

Global BI - Drivers and Constraints

Drivers

An increasing need for Big data analytics

• Every day, the volume of big data creation amounts to 2.4 Quintillion bytes. By 2020, the amount of data generated is expected to reach 40 ZB (Zettabyte, i.e., 270 bytes). The exponential growth of data (volume, veracity, velocity) and needs mastering analytics to derive meaningful insights

Predictive/Prescriptive Analytics Tools

• BI analysis has been enhanced through the use of predictive and prescriptive analytics tools. Forecasting, graph analysis, and complex event processing techniques are used to improve the decision-making process

Data Storytelling

• Enterprises have adopted data storytelling capabilities to improve data interpretation and business decision making from key data insights
• Automated Data Science
• BI technologies are leveraging automated data science technologies to assist enterprises with improved data categorization, segregation, sorting, analysis and reporting

Visual Analytics

• Advanced visual data discovery tools have assisted enterprises in creating interactive dashboards for the high volume of critical data

Natural Language Processing boost to self-service

• NLP based search extended to text and voice analytics is starting to gain prominence facilitating topline managers to quickly input analytical queries

Constraints

Digital Ethics

Data security breaches and issues result in a significant loss for enterprises. Cloud BI tools and integration with third-party applications with a lack of secure framework may increase potential data breach opportunities

Data Governance

• With the emergence of cloud, there would be increasing cases of fragmented analytics deployments (smaller scale) driven by LOB managers as opposed to centralized IT. This can create challenges in maintaining data governance. Hence suppliers also need to focus on enhancing data audit features

High implementation cost

• Rising demand, complex programming, data integration, and growing implementation costs result in a price increase, which acts as a constraint in this market. Enterprise BI deployment and associated TCO are one of the barriers in the adoption of BI technology by enterprises though this is being mitigated by the emergence of cloud deployments

Regional Market Outlook

The business intelligence outlook for each of the regional markets is analyzed in detail. The regions are North America, Europe, MEA, APAC and LATAM. 

The market information and market maturity details of each region give valuable insights into the regional nuances of BI. It also lists the global suppliers active in each region as well as the local suppliers. The maturity levels of the service providers are illustrated alongside the maturity levels of the buyers. The country-wise variations if any within each region are also described as neighboring countries sometimes have contrasting market maturity levels.   

Overall Analysis

This report analyzes the BI market to give a crisp overview of the supplier vs buyer as well as the challenges that the BI industry faces. The well-rounded analysis of the global as well as regional BI market helps one get an overall grasp of the overview as well as the finer details of the BI market. The analysis is supported by facts and figures that are presented in an attractive and easy-to-understand format. 

Supplier Analysis - Supplier Market Outlook

The supplier business intelligence trends vary based on various perspectives. This section of the report describes the supplier market outlook from the different perspectives including global vs regional and local vs vertical. 

Global BI Market Share

The key players in BI and their market share are listed here. The section also highlights key takeaways about the leading players and their offerings. 

Global Supplier List and Major Service Capability Mapping And Assessment

The BI product suites of major players are mapped and analyzed in this section. It gives a comparative overview of the products at a glance. It also assesses the service capability of the various players.

Key Global Supplier Profile

The leading global suppliers have been studied and the details of their company, leadership, geographic presence, achievements, certifications, service capabilities, cash flow and other important details have been provided. Further, each supplier has been thoroughly analyzed and presented in a SWOT report.