Today’s businesses are increasingly relying on Business Intelligence (BI) and big data to support their decision-making processes andfor shapeing their services for the future. BI is no longer considered a luxury but an essential tool for B2B and B2C businesses to gain competitor advantage. To cater to this increasing demand, major database vendors such as Oracle are introducing and enhancing their BI toolkits. In this context, we can expect a healthy demand and a highly competitive BI and big-data tools markets.
According to the 2016-2020 report of the Global Data Quality Tool Market, a key trend in the data-quality tool market is to merge the data quality tools and data integration tools, such as ETL tools, which would support comprehensive data transformation and synchronization. Therefore, most data tool vendors are trying to offer toolkit solutions that include data quality and data integration tools. While there are still vendors that offer these featurestools separately, the former market sector will bloom in the coming years, according to the report.
The analytical forecast made by the report reveals that the heavy growth of the BI tools market during 2016-2020 will be dominated by the popular demand for Enterprise Information Management (EIM), which would allow the businesses to achieve optimal usage of information to help in business decision-making. This high demand for EIM tools is a major drive for the growth of the BI tools market. The report also reveals that the key players in the data tools market are Oracle, IBM, SAP & SAP Institute, Informatica, and Trillium Software.
On a separate evaluation, Gartner forecasts that the revenue of the business intelligence and analytical tools market is expected to reach $16.9 billion in 2016, showing a 5.2% increase compared to 2015. According to Ian Bertram, the managing VP of Gartner:
“The shift to the modern BI and analytics platform has now reached a tipping point. Organizations must transition to easy-to-use, fast and agile modern BI platforms to create business value from deeper insights into diverse data sources.”
According to Gartner, analytics is extremely critical to most data-driven businesses today — which almost every business is. Therefore, every business process involves an analytics process, hence the growing demand for BI and analytical tools.
Market growth of big data governance
According to the Global Enterprise Information Management Market 2016-2020 report, there’s a significant boost of the growth of the big-data governance market. As the load of enterprise data grows at a considerable rate of 30%-40% a year, information governance has become a big necessity and is quite complex. Therefore the businesses dealing with big data and analytics are in need of comprehensive big-data governance mechanisms to control and safeguard their business data.
Is your business already empowered by the BI-based decision-making? If you are using OBIA, download our whitepaper, Oracle BI Applications: Understanding Levels of Customizations, where we discuss the important facets of configuring and integrating OBIA into your current Oracle framework.
To learn more about BI tools and trends, please contact Datavail today. Datavail, which recently acquired Art of BI, is the largest provider of data and database administration (DBA) services in North America. The BI & analytics expertise of Art of BI combined with Datavail’s more than 600 DBAs, analysts, developers and consultants has resulted in a powerful resource for your integrations, implementations, and upgrades across the Oracle stack, including Hyperion, OBIEE, OBIA, GoldenGate, Weblogic and more.
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