As more companies realize the potential of data-driven expansion, growth of the Business Intelligence (BI) market is exploding. Nearly every prediction for the BI market expects this trend to continue well into the next decade and beyond. According to a report by Zion Research, the global business intelligence market is growing at a CAGR of around 8.4% between 2016 and 2021.
BI accounted for USD 16.33 billion in 2015 and is expected to reach USD 26.50 billion by 2021. With features like graphical results and visualization enabling business professionals to make data-driven decisions like never before, BI tools have become a core piece of the business analysis process. Stakeholders and key executives can view consolidated data from multiple systems across departments that used to be available only in silos, thus providing an entirely new, and more comprehensive, view of company health.
Author: Shree Neve