Business analytics consists of solutions applied to build analysis models and simulations to generate scenarios, recognize realities and foresee future states. The business analytics and enterprise software industry involves establishments occupied in the development and distribution of business analytics, business intelligence (BI), customer relationship management (CRM), predictive analysis, enterprise resource planning and other enterprise software. This software allows businesses and analysts to pull out more valuable information from the data provided and helps in decision making. Modern business analytics and enterprise software global market continues to expand more rapidly than the overall market, which is balances the declines in traditional BI spending.
The modern BI and analytics platform emerged in the last few years to meet new organizational requirements for accessibility, agility and deeper analytical insight, shifting the market from IT-led, system-of-record reporting to business-led, agile analytics including self-service. It was observed that the modern business intelligence (BI) and analytics market will decline by the year 2020. The business intelligence (BI) market will expand but revenue will be dampened by pricing pressure. Purchasing decisions will continue to be influenced heavily by the users who need more vigilance. For successful deployments, enterprise-friendly buying models have become more critical.
According to the research report “Business Analytics And Enterprise Software Market Global Report 2017”, enterprise application software markets consists of enterprise resource planning (ERP), office suites, customer relationship management (CRM), business intelligence (BI), supply chain management (SCM), enterprise content management (ECM), digital content creation (DCC), web conferencing and project and portfolio management (PPM) software. This software market will witness a slightly slower growth over the years.
Worldwide, few countries showed mixed performance. Australia excels as the fastest growing market in the enterprise application software market among the mature Asia Pacific countries driven by growth in customer relationship management (CRM) investments, and business intelligence (BI) and analytics. It was observed that the new spending on SaaS and cloud based employment along with upgrades and improvements will continue the modernization of established, mission critical enterprise application software.
China experiences a moderating growth due to slow down of domestic and export market demand. The application software revenue in China has slightly increased. The top five competitors in Asia Pacific (excluding Japan) are stable, but a variation was observed in their success and performance. Enterprise resource planning (ERP) and customer relationship management (CRM), office suites, and business intelligence (BI) and analytics are the largest software markets in the world.
The following seven dynamics are involved in the business analytics and enterprise software market such as modern business intelligence will dominate new purchases, new innovative and established vendors will drive the new way of innovation in market disruption, Need for complex datasets drives investments in data preparation, extensibility and embeddability are the major factors affecting the expanded use and value, increase in cloud employment and finally marketplaces will create new opportunities for organizations to buy and sell analytic capabilities and speed time to insight. The leading competitors in business analytics and enterprise software market are IBM, Microsoft, Oracle, SAP, and SAS Institute. The top ten best self-serve analytics and business intelligence tools for enterprises used in the modern world are Tableu. Qlik, Splunk, Trillium, Logi analytics, crimson hexagon, Alteryx,SAS, Tibco, and DrivenBI.
Cloud software solutions is gaining acceptance from companies across all industries from the past five years. Customer relationship management (CRM), HR/payroll, project management and accounting software systems use the cloud software solutions widely. Large organizations use public cloud which is the most preferred employment platform for cloud business intelligence and analytics. By the year 2020, it was estimated that the predictive and prescriptive analytics will attract more than 40% of enterprises’ net new investment in business intelligence and analytics.
Key Topics Covered in the Report
Global Business Analytics Software Market Research
Global Business Intelligence Software Industry Analysis
Customer Relationship Management Software Market
Enterprise Resource Planning Software Market
SCM Software Market Research
Predictive Analysis Software Market Outlook
Performance Management Software Industry
Business Analytics and Enterprise Software Industry
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Ankur Gupta, Head Marketing & Communications