Indian business intelligence (BI) software revenue is forecast to reach US$139.5 million in 2014, a 16 percent increase over 2013 revenue of $121.2 million, according to Gartner.
This forecast includes revenue for BI platforms, packaged analytic applications and corporate performance management (CPM) software.
The agency forecasts huge change in the focus of type of BI deployments to areas that will help reduce cost like spend analysis, and profitability forecasting, along with reporting for achieving regulatory compliance. These internal and external pressures are driving increased adoption of analytics solutions across the country.
As more information is generated, business models need reinvention, and it’s increasingly clear that mastering analytics on big data will be a central area of focus over the coming decade. While these are fundamental drivers in the near term, growth will be hampered by sluggish macro indicators, as well as confusion around big-data and how to tie that to ROI.
India BI Software Software Forecast Estimates (Millions of Dollars)
|Subsegment||2012 Revenue||2013 Revenue||2014 Revenue|
|Analytic Applications and Performance management||20.1||24.3||28.7|
|Total Growth (%)||17.25||15.15|
Gartner (October 2013)
Indian CIO’s are gaining a better understanding of the non-IT competences required for successful BI implementation; however, a general lack of talent across all fields of information management in organizations will continue to be the critical barrier to their successful adoption of business analytics initiatives.
“Business users are increasingly influencing selection of BI technology, and as such, advanced technologies, such as interactive visualization, mobile BI, geospatial and in-memory technologies will increasingly play an important part in selection criteria,” Gartner researchers said.
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