In a new report, Gartner forecasts that Indian Business Intelligence and Data Analytics software revenue will reach $214 million in 2016. If market revenue does in fact reach this threshold, it would represent an increase over more than 18 percent over 2015. The forecast includes revenue for Business Intelligence and Advanced Analytics platforms, analytic applications, and corporate performance management (CPM) software. Bhavish Sood, Research Director at Gartner, explains: “The BI and analytics market is undergoing significant change. Adoption of machine learning techniques, and the emergence of smart data discovery solutions are fueling next round of investments.”
Over the next two years, all segments of the Indian Business Intelligence market are expected to show double-digit growth. However, the Advanced Analytics segment is forecast to show the strongest level of growth, as new investment in BI and analytics is being dominated by forward-thinking enterprises who are looking to move beyond traditional analytics capabilities to discover insights that may lie deep beneath the surface. As a result, Sood adds: “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.”
The growing interest in more modern Business Intelligence tools have allowed purchasing decisions to switch hands, from IT leaders to line-of-business executives and end-users who crave agility and the flexibility of personalization. In this way, Indian Business Intelligence first-adopters have the ability to look and see what moves the needle in already-developed enterprise markets rather than having to build their data architectures from scratch. This is certainly one of the most important factors in the growth of this market, with organizations already having a strong sense of the benefits and limitations that analytics software represent.
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