Social BI Driving Business Intelligence Market Growth to 2019 at 8% CAGR

Jul 07, 2015, 06:30 ET from ReportsnReports

DALLAS, July 7, 2015 /PRNewswire/ -- adds Global Business Intelligence Market 2015-2019 research report that forecasts an 8.25% CAGR for the BI market driven by the emergence of social media and social business intelligence.

Complete report on business intelligence market spread across 78 pages, talking about 5 major companies, 3 leading countries and supported with 28 data exhibits is now available at .

Recent increase in the volume of data generated from social networking sites is a major factor that enhances market growth. Many organizations are using business intelligence solutions to help their users in making informed decisions, solving customer issues, managing risks, and making investment decisions. Business intelligence also finds applications in the banking, financial services, and insurance (BFSI) sector as it increases efficiency and helps in formulating marketing strategies. All these factors combined promote growth in the global business intelligence market.

Social media has evolved to provide better solutions for integrating with BI software, which is enabling organizations to share a detailed description of their products and services with potential customers worldwide. Previously, social media was not advanced enough to integrate with old software and help organizations but now many large organizations and SMEs are increasing their social media presence to improve their return on investment (ROI).

To calculate the business intelligence market size, this research considers the revenue generated through software licenses and subscriptions, software implementation cost, technical support as well as maintenance and professional services. The report covers segments based on technology like traditional business intelligence, mobile, social BI and cloud business intelligence technology.  Based on deployment mode, this BI market research covers the cloud and on-premises business intelligence segments. The report also presents vendor landscape and a corresponding detailed analysis of the five major vendors in the market. In addition, it discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends emerging in the market.

Major business intelligence market companies discussed in this research include IBM Corp, Microsoft Corp, Oracle Corp, SAP AG and SAS Institute Inc. Other prominent players mentioned in the report cover Actuate (OpenText), Alteryx, Board International, Brist, Datawatch, GoodData, Infor Global Solutions, Information Builders, Logi Analytics, MicroStrategy, Panorama Software, Pentaho, Prognoz, Pyramid Analytics, Qlik, Salient Management Company, Tableau, Targit, Tibco Software and Yellowfin. Order a copy of Global Business Intelligence Market 2015-2019 research report at .

Major drivers of the business intelligence market discussed in this research include increased awareness of BI benefits, high demand for data analytics, increased usage of cloud BI by SMEs and high volume of data from social networking sites. Trends like emergence of social BI, increased focus on SMEs, rise in adoption of cloud BI and analytics as well as popularity of BI solutions are shared for the companies interested in the market and this research. To define the market circumstances in the next 3-4 years, analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

On similar lines, another research says the social business intelligence market will post 33.79% CAGR to 2019 with the support of increase in information from social networking sites. The report says social media applications and social networking sites are generating a large volume of information. The majority of corporate data sources include data generated from enterprise applications along with newly generated cloud-based data, social network data and device data. Social business intelligence tools are useful for retrieval and analysis of a vast and growing volume of diverse data.

These tools help optimize business decisions, discover and fix weaknesses and develop indicator patterns to identify opportunities and threats. The report titled Global Social Business Intelligence (BI) Market 2015-2019 emphasizes the integration of BI with social media as one of the major market trends expected to continue through the projected period. Social media has evolved over the years to provide better solutions to integrate with BI software. Many SMEs are adopting this technology to integrate and upgrade software so as to obtain the best ROI from their social platforms. To calculate the market size, the report considers revenue generated from social business intelligence solutions, software, tools, applications, services, support, and maintenance. The report also presents the vendor landscape and a corresponding detailed analysis of the major four vendors in the market. It provides a geographical segmentation of the market for 2014 and details of the major drivers, challenges, and trends in the market. It also provides segmentation based on applications and end-users in the market.

Americas, EMEA and APAC are the key regions covered in this social business intelligence market research. Major players discussed in this social BI market report include IBM, Oracle, SAP and SAS Institute. Other prominent companies mentioned in this study are Adobe Systems, Attensity Group, Beevolve, Clarabridge, Crimson Hexagon, Evolve24, Google, HP, Kapow Software/ Kofax, Lithium Technologies, NetBase Solutions, Radian6/Salesforce, Sysomos and Visible Technologies. Read more on Global Social Business Intelligence (BI) Market 2015-2019  research report at .

A related research titled Business Intelligence Platform Market by Deployment (Cloud, On-Premise), by Industry (Healthcare, Retail, Government, BFSI, Telecom & IT, Media & Entertainment, Education, Energy & Power, Manufacturing, Others) - Global Forecasts to 2019 says increase in data generation, affordability, low cost of data storage, increasing competition, need to take better business decisions, analytics, and mobile business intelligence-are some of the factors driving the adoption of business intelligence platforms. On the other hand, complexity of technology and lack of skilled workforce are some of the restraining factors hindering the growth of the business intelligence platform market. North America, Europe, and Asia-Pacific have the highest adoption and usage market of business intelligence platforms. The regions of Latin America and Middle East and Africa are gradually considering these business intelligence platforms, and in turn offer a lot of opportunities for the vendors in the business intelligence platform market. Read more at .

Explore more reports on the IT and Telecommunication markets at .

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