Business Intelligence are the tools adopted by enterprises for data analysis to provide business reporting and understanding of historical, current and predictive views of the business
AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Business Intelligence.
Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.
Business Intelligence Market Monitoring Dashboard
Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™
Business Intelligence Industry Benchmarks
The average annual savings achieved in Business Intelligence category is 5.60%
The industry average payment terms in Business Intelligence category for the current quarter is 84.0 days
Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™
Category Strategy and Flexibility
Price per Unit Competitiveness
Minimum Order Quality
The World’s first Digital Market Analyst
The World’s first Digital Market Analyst
Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions
Business Intelligence Suppliers
Find the right-fit business intelligence supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.
Use the Business Intelligence market, supplier and price information for category strategy creation and Quaterly Business Reviews (QRBs)
Business Intelligence market frequently asked questions
As per Beroe's analysis report, the top most trends in business intelligence include the following:-- Mobile, BI, Data visualization, and advanced analytics are the top drivers of the BI market -- Content authoring is now more business-user driven -- The emergence of cloud has led to greater adoption led by the line of business managers as opposed to IT -- IoT and BYOD are other business intelligence industry trends which have increased the data volume -- It's expected that there will be nearly 45 billion connected devices and a 42 percent increase in data volume each year posing a high business opportunity for the BI market -- All major insights can be observed on intuitive dashboards accessible in a shared and collaborative environment
As per the report, the global business intelligence and analytics market size is expected to reach $22.8 billion while growing at a steady CAGR of 7.6 percent. North America and Europe are the high market maturity regions, while the APAC region is expected to experience high market growth. The BI market is expanding in countries like the U.S., UK, and Japan due to the advancement of mobile, cloud, and social BI solutions, while in regions like Latin America, APAC, and MEA, the BI market is still flourishing at a steady pace.
According to Beroe's business intelligence market analysis report, the key drivers of the BI market are ' big data analytics, demand for data-as-a-service, and desire for personalized and self-service BI capabilities. Though implementation cost limits the market growth, it's considerably mitigated by the emergence of cloud deployments.
The platform for business intelligence and market research is undergoing a significant technological shift due to easy access and analysis of information based on data, content authoring, and greater adoption of cloud technologies.
The right implementation of BI allows quick access and analysis of information based on data. It also improves and optimizes key business decisions and performance based on facts. -- Content authoring is now more business-user driven That being said, the major components of business intelligence solutions include: -- Data Mining -- Statistical Analysis and Visualization -- Data Warehouse/Data Mart -- Data Sources
To successfully implement marketing and business intelligence, the primary steps to be implemented involve: -- Requirement analysis ' It involves sourcing information from all stakeholders, end-users, and systems -- Infrastructure Evaluation ' It involves evaluating the data architecture, SLAs, Extract-Transform-and Load (ETL) --architecture, and also perform database designing -- Designing ' This step includes designing BI/OLAP reports, metadata solutions, logical and physical database design mockups while managing the data quality -- Development ' It includes the development of delivery mechanisms, UI, backup, recovery, and maintenance scripts parallely -- Testing & Deployment ' The last step wherein a test environment is created to conduct integration & UAT testing and complete final deployment.
As per business intelligence outlook report shared by Beroe, the complete BI industry is driven by: --Increased need for big data analytics --Leveraging predictive analysis tools --Adoption of storytelling concept to improve data interpretation & influence key business decisions --Creation of interactive dashboards to manage bulk visual data --Extension of NLP based search to facilitate quick input analytical queries. --Extension of NLP based search to facilitate quick input analytical queries. Despite the multiple driving factors, the business intelligence news also indicates that BI market growth is deterred by the following three constraints: --Data security breach and compliance issues. --Maintenance and governing of data can be a big challenge (especially when everything is cloud-driven) requiring enhancement of audit features. --The increase of demand with complex programming and other factors involved can lead to a price increase; a major constraint in the BI market.
The global fulfilment market size was $53 billion in 2019. The global e-commerce fulfilment market is growing fast too. Beroe estimates that the global marketing fulfilment services market will grow at a CAGR of 4 percent to 5 percent every year until the end of the year 2022. It is estimated that the market will be valued at over $65 billion at the end of 2022 due to continued growth in the marketing operations and fulfillment service market. The growth of the fulfillment industry will continue in the future after 2022. The different regions have different market sizes according to the Beroe report. The Asia Pacific region has the largest market share with a value of $18 billion to $20 billion. The North American region has the second-largest market share and has a market value of $13.5 billion to $15.5 billion. Next, it is the European region that has a market size with a value of $12 billion to $13.3 billion. The Middle East and Asia region have a market value of $2.2 billion and $2.6 billion.
Business Intelligence market report transcript
Some of the key points to note are:
Banking is the largest consumer market for BI
BI is critical for retail and wholesale industries and is the backbone of their operations.
It plays a larger-than-life role in daily business operations.
Business Intelligence Global Market Outlook:
The global BI market was valued at $23.21 billion in 2019. The market is impacted by the COVID-19 pandemic and is anticipated to experience stagnation.
Consequently, the market CAGR has been adjusted from 9.1% to 8% until 2023.
While Europe and North America will remain in the vanguard, APAC is expected to offer lucrative opportunities.
Factors driving the business intelligence industry include big data analytics, rising demand for data-as-a-service, as well as for personalized and self-service BI capabilities.
However, implementation costs and potential issues associated with data breaches are hitting the revenue of market players.
Integration of various business intelligence applications are further setting a challenge.
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 directly impact external consultants' billing rates
Technology startups in the UK employ a significant workforce from (European Union) EU countries due to insufficient math and science graduates in the country 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 need to abide by the EU General Data Protection Regulations (GDPR) which was set to take effect from May 2018.
Apart from local regulations, UK companies managing EU data need to adhere to stricter GDPR norms which are expected to add to 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 BI solutions include:
- Data mining
- Statistical analysis and visualization
- Data warehouse/Data Mart
- Data sources
This section of the report also provides key insights about the types of BI and market share as well as capabilities and business adoption rates.
Globally, Business Intelligence Software is given high importance and many businesses consider it critical or vital.
It provides a multitude of benefits through forever advancing technology, increased accessibility, seamless functioning and benefits for the end-user. These are also the main factors that are driving the BI market.
As per experts, Data security will be the top concern for both service providers and end-user.
- Requirement analysis from all stakeholders, including business and system users
- Source and system analysis
- Evaluates technology architecture, such as data architecture, SLAs, workload modeling
- ETL architecture and database design
- BI/OLAP report design
- Metadata solution design
- ETL and data quality management
- Logical and physical database design
- 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
Judging from the way the BI landscape is shaping up, Global business leaders think that business intelligence platforms have the immense capacity to add value to vendors and customers involved in the business cycle. Every business or industry wants to lower costs and increase revenues and Business Analytics helps to achieve this goal. Every company or business should start focussing on bigger problems and concentrate on how business analytics can resolve them. Companies which are already using it should also re-evaluate newer possibilities using BI.
Global BI - Market Maturity
Properly assessing the market at regional levels is hugely important in order to understand the granular aspects of competitive space. The business intelligence market size, regional market saturation, their levels of BI implementation, as well as maturity of various stakeholders are detailed in the report, along with key suppliers for each region.
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 the cloud has triggered greater adoption among business managers as opposed to IT
Dashboards, data visualization, analytics databases/platforms, and BI/OLAP tools are major functionalities in BI solutions, with maximum utilization in businesses. Actionable insights are 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
Emerging trends such as the Internet of Things (IoT) and Bring your own device (BYOD) have resulted in exponential consumption of data volume
The report reveals that by 2020, the number of connected devices will reach 45 billion with a 42% rise in data volume every year, offering a lucrative business opportunity for the BI solution providers
The business intelligence and analytics market size as well as the growth potential are illustrated region-wise.
Global BI - Drivers and Constraints
Increasing Demand for Big Data Analytics
About 2.4 quintillion bytes of data are generated every day, and this number was expected to reach 40 Zb (Zettabyte) by 2020. This exponential growth of data generation (volume, veracity, velocity) demands mastering analytics to derive meaningful insights.
Predictive/Prescriptive Analytics Tools
Predictive and prescriptive analytics tools have played a huge role in stepping up BI analysis. Forecasting, graph analysis, and complex event processing techniques are used to improve the decision-making process
Rise of Advanced Visualization Dashboards amid COVID-19
The COVID-19 pandemic has triggered the demand for advanced data visualization and dashboards solutions to monitor the data of global patient data and make decisions as per the report.
Businesses have adopted data storytelling capabilities to improve data interpretation and business decision-making from key data insights.
- Advanced visual data discovery tools have assisted enterprises in creating interactive dashboards for the high volume of critical data
NLP to boost Self-service
- NLP based search extended to text and voice analytics is starting to gain prominence facilitating topline managers to quickly input analytical queries
Data security breaches and issues result in significant losses for enterprises. Cloud BI tools and integration with third-party applications with a lack of a secure framework increase the risks of potential data breaches.
The emergence of the cloud has paved the way for increasing cases of fragmented analytics deployments (smaller scale) driven by LOB managers compared to centralized IT. This can create challenges in maintaining data governance, as such, suppliers need to focus on enhancing data audit features.
High implementation cost
Initial costs of purchasing a suitable BI solution, implementing it, and maintaining and educating employees regarding its usage are significantly high, creating concerns among small and medium businesses (SMB). Moreover, restricted resources complicate the recruitment of skilled experts including, consulting analysts, data science experts, and IT infrastructure specialists. Cost-prohibitive infrastructure investments required to employ BI software further are compounding the situation, affecting the business intelligence industry.
End-to-end integration helps experts access all data in an integrated framework. That said, integration is a huge challenge faced by BI providers. As demand for cloud-driven BI solutions is soaring, given their umpteen advantages, cloud deployments are posing security and integration issues with on-premises data.
Data security is crucial
Data security is very important to every single business with an online presence. In order to protect this precious vault robustly, they have to depend on BI. An increase in the BI market shows that there is a lot of sophisticated development happening in the BI markets. For it to function seamlessly it needs a huge and high level of data so that data graining can be done from grass root levels.
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.
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 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.