Business intelligence market grows 22%, says Gartner
- Reduce text size Decrease text size
- Increase text size Increase text size
- Print article Print
- Jump to comments Comment
- Share this article Share
- Email article to a friend Email
The market for BI tools has defied the recession to show revenue growth of almost 22%
New figures from analyst firm Gartner show that the business intelligence (BI) sector is thriving despite flagging IT budgets.
The worldwide appetite for BI platforms, analytic applications and performance management software in 2008 increased 21.7% on the previous year, from $7.2 billion to $8.8 billion.
However, Gartner analyst Dan Sommer said the growth was due largely to industry consolidation and a focus on sales and marketing by large stack vendor, particuarly towards new acquisitions. “Accelerated migrations and upgrades in the installed base are the result,” he said.
Thanks to its 2007 acquisition of Business Objects, SAP accounted for almost a quarter of the market, followed by the SAS Institute and Oracle (both at 14.6%), IBM (11.3%) and Microsoft (7.7%).
In this troubled economic climate, it is essential for organisations to take control of their cash management and financial accounts and business intelligence tools, by helping organisations better understand their business, are a wise investment to increase financial control and reduce operational risk. An example of this is automated reconciliation which saves time and improves accuracy and security of the reconciliation process at the same time.
Michael Coppack, Adra Match, www.adramatch.com
Report this comment »