Business Intelligence (BI) Software Market 2020 Strategic Assessment- Microsoft BI, IBM Congnos, SAP, SAS, Oracle BI

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Global Business Intelligence (BI) Software Market report include current market scenario and offers a comprehensive analysis on Business Intelligence (BI) Software industry, standing on the readers’ perspective, delivering detailed market data and understanding insights. It comprises inclusive important points that significantly affect the growth of the market at a global level. It analyzes present scenario along with future trends in the market. The report is made after a pin-point research and exhaustive investigation of the market development in different sectors that requires theoretical analysis, technology-based ideas, and its validity.

The global BI software market was valued at about $14.3 billion in 2018 and is expected to grow to $28.77 billion at a CAGR of 19.1% through 2022.

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The business intelligence software (BI software) market consists of sales of business intelligence software. This software enables users to project information, visualize data, derive insights, improve business operations and make strategic business decisions. The components of business intelligence are source data, data warehouse, and online analytical processing (OLAP), visualizations, dashboards, and extract, transform, load (ETL) processes.

Scope of the Report:

Markets Covered:1) By Deployment: On-Premise, On-Cloud2) By Application: BFSI, Telecomm, IT, Retail and Consumer Goods, Healthcare and Life sciences, Manufacturing 3) By Type: Unstructured Data, Semi Structured Data, Structured Data

Companies Mentioned:Microsoft BI, IBM Congnos, SAP, SAS, Oracle BI

Countries: Brazil, China, France, Germany, India, Italy, Japan, Spain, Russia, UK, USA and Australia.

Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East And Africa

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An increase in data-driven projects aids BI software market growth due to a substantial rise in the demand for real time analytics in the historic period. According to International Data Group (IDG) prediction, 69% of the businesses are planning or implementing data-driven projects in order to enhance production and sales, better decision making, strategic planning of business and others. Companies in the industry are using nosiness intelligence software in order to predict consumer behavior and engagement with their products and services. For instance, Starbucks started using the business intelligence software along with CRM software for predicting the purchasing behavior of the customers.

Key Highlights of Business Intelligence (BI) Software Market Report:

-Market dynamics, Business Intelligence (BI) Software economy manufacturing, opportunities on the total pricing of this top manufacturer and improvement trend analysis;

-Business Intelligence (BI) Software industry players at the general regional industry and economy synopsis;

-Deep analysis of the most significant market players included by Worldwide Business Intelligence (BI) Software Market study report;

-Understand more about the market plans that are increasingly now being adopted by leading Business Intelligence (BI) Software businesses;

-Evaluation of this market character, namely market development drivers, essential challengers, inhibitors, and chances;

-Strategically profile the key players and comprehensively analyze their growth strategies.

Key Takeaways:

-An extensive analysis of the Business Intelligence (BI) Software market trends and shares from 2017 to 2023 to identify market opportunities and analyze industry developments.

-Comprehensive analysis with respect to investments and price trends that impact the outlook of the Global Business Intelligence (BI) Software market between 2020 and 2023.

Companies in the end user industries are increasingly adopting cloud based business intelligence tools in order to enhance security, access from anywhere online and benefit from the advantages of economies of scale. The cloud-based BI software is a virtual network, can be accessed via internet hosted on the vendors servers to aid efficient connectivity of devices. Cloud-based BI software benefit the companies with its cost effectiveness and low investment as no additional hardware costs are involved, short implementation time and others. According to International Data Corporation (IDC), in 2018, 50% of the IT infrastructure spending is on cloud based tools and for efficient data storage it is expected to grow to 60-70% by 2020.

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