The market for worldwide business intelligence and analytics software, including BI platforms, corporate performance management suites, analytic applications and advanced analytics, totaled $14.4 billion in 2013, up 8 percent from 2012 revenue of $13.3 billion, according to new research from Gartner Inc.
"Overall, just like last year, the market is shifting gears, which is keeping growth in the single digits,” Dan Sommer, research director at Gartner, said in a statement. “At the same time, paradoxically, we’re at the cusp of a series of tipping points which will facilitate unprecedented interest and adoption of analytics.”
Also see: Critical Skills for Analytics
A number of factors slowed the market in 2013, the firm says. One is that confusion still reigns around how to best leverage analytics on big data. Much big data investment has happened outside traditional BI, in experimental silos, infrastructure and services. In addition, growth in IT budgets is flat and IT-led traditional BI tools are over-bought, Gartner says.
“As the market shifts gear, we see a series of tipping points in 2014 that will accelerate adoption, but it may come from a different place,” Sommer said. “These tipping points are that half of BI and analytics spend will be business driven, half of new license spend will be driven by data discovery requirements, and half of organizations will consider deploying BI in the cloud, at least tactically.”
This story first appeared at Information Technology.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access