Gartner's view on BI:
BI ranked number five on the list of the top 10 technology priorities in 2011, according to Gartner's annual global CIO survey.
Gartner has identified Consumerisation, Support for Extreme Data Performance and Decision Platform as three major demand-side factors that continue to expand use and drive BI platform revenue growth.
The market for business intelligence (BI) software in India is forecast to reach revenue of $65.4 million in 2011, up 15.7 percent over 2010, according to Gartner, Inc. Worldwide BI software market revenue is forecast to grow 9.7 percent to reach $10.8 billion in 2011.
Gartner's view is that the market for BI platforms will remain one of the fastest growing software markets despite sluggish economic growth in most regions. Organisations continue to turn to BI as a vital tool for smarter, more agile and efficient business and they increase the current usage scenario from just an information delivery mechanism.
Decision making in India historically has been based on either "gut feelings" or on the business experience of managers. BI will allow enterprises to make more fact-based decisions. BI promotes revenue growth and faster innovation through shorter product and service life cycles and the ability to find where value is being created in the business.
"It's a sign of the strategic importance of BI that investment remains strong," said Bhavish Sood, research director at Gartner in it`s press release.
BeyeNETWORK's view on BI:
As per the survey, State of Business Intelligence conducted by the BeyeNETWORK and Saint Joseph's University. The survey was conducted between November 2010 and January 2011, and 79 BI professionals responded.
The survey reveals that dashboards, decision support, and data mining are the dominant BI applications used to generate and report analytic results, and most survey responders reported using them. Rarer is the use of automated agents to drive rule-based business strategy.
It is clear from the survey that business intelligence is used to support decision making at the strategic, tactical, and operational levels. At the strategic level, product and market analytics is the top BI application, followed closely by strategic planning and market trends and analysis. Performance management is the dominant tactical application; but marketing, forecasting, operations planning, and line-of-business pricing and profitability are close behind. Financials and sales applications are the foremost operational BI applications, but general operational analytics and CRM applications are also widely employed.