These earnings reflect a marked increase of nearly $4 billion more than revenue figures from 2008. ![]() The report also cites facts from a Forrester Research study where the market researcher documented that the BI market is expected to earn in excess of $12 billion in profits in 2014. The Businessweek report notes that BI software was a significant priority for tech spending among businesses in 2009, even though IT budgets were flat in other areas. This pressure is good news for makers of BI systems. ![]() “There’s a tremendous pressure on cost containment, on developing accurate forecasts of sales and expenses and trying to align the expense stream with projected revenue stream,” John Van Decker, research vice-president at research firm Gartner, told Businessweek. ![]() Furthermore, analysts believe current conditions are pushing businesses to cut costs and boost profit by making the information already collected available even more effectively. The report points out that the organizations that launch business intelligence tools across the board are in a position to reap benefits from the ongoing ability to get high-quality information and respond appropriately.Īs a result, the significance of information examination is becoming even more crucial to today’s leaders. These advanced systems from vendors like SAP, SAS, Oracle and IBM help businesses examine and dissect the data they collect to help effectively cut costs, increase efficiency and identify new opportunities for sales or growth.Īccording to a report from Bloomberg Businessweek magazine, BI training can really prove its value to organizations during slow economic times. ![]() Organizations around the world increasingly rely on solutions offered by business intelligence (BI) and analysis software.
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