BI revenues in India to hit $113 million in 2013
The business intelligence (BI) software revenue in India is forecast to reach $113 million in 2013, a 16 percent increase from 2012 revenue of $98.1 million, according to Gartner Inc. The forecast includes revenues for BI platforms, analytic applications and corporate performance management (CPM) software.
“Pressures from consumers, environmental policies, government and industry regulations, international standards of quality, and internal operational efficiency are forcing enterprises to improve their operations and processes to become both agile and efficient in a volatile marketplace,” said Bhavish Sood, Research Director at Gartner. “These internal and external pressures are driving increased adoption of analytics solutions across the country.”
India BI software estimates the sum total of growth revenues of analytic applications and performance management, CPM suites, BI platform projected at 14.67 percent by 2016.
“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. There is an increased emphasis on the metrics management and growing use of performance management. Software and service providers are increasing marketing spend on BI thus leading to higher visibility. In many industries, especially the regulated ones, such as telecom and financial services, clients are setting up dedicated competency centers focused on the use of information,” said Ian Bertram, managing vice president at Gartner.
Indian CIOs are gaining a better understanding of the non-IT competences required for successful BI implementation. However, there is lack of talent overall on information management in organisations. Another challenge is the growing interest in big data. This will continue to prove a challenge to adoption of business analytics initiatives.
“In order to increase adoption, enterprises should evaluate advanced technologies, such as interactive visualization, mobile BI, cloud and in-memory technologies,” said Sood.
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