Indian business intelligence (BI) software revenue is expected to reach US $ 139.5 million in 2014, a 15 per cent rise over 2013, according to a study by Gartner, a leading IT research and advisory company.
This forecast includes revenues from BI platforms, analytic applications and corporate performance management (CPM) software, a statement from Gartner said.
``As enterprises start to make investments again after the elections, we expect business intelligence and analytics to be one of the key areas of investments to drive revenue growth and improve service efficiencies,’’ Bhavish Sood research director at Gartner said in a statement.
“We see signs of the emerging importance of BI in India as senior executives are increasingly exploring the different styles of analytics to resolve their business imperatives,” said Sood, adding that there was an increased emphasis on metrics management and the growing use of performance management. ``Software and service providers are increasing marketing spend on BI thus leading to higher visibility.’’
“For the fourth year in a row, analytics ranks number one priority in Gartner’s Chief Information Officer Survey. BI is used today to support hundreds of decisions on the strategic and tactical level,” said Frank Buytendijk, research vice president at Gartner said in a statement.
``Now analytics is also starting to support the hundreds of thousands of decisions on the operational level and is moving from internal support to a sellable asset. The results are impressive,” he said.
Gartner said Indian enterprises adopting BI have the advantage of benefiting from earlier adopters in developed markets, rather than needing to build their approaches from the ground up. In order to increase adoption, enterprises should evaluate data discovery, geospatial and mobile based approaches.
