According to Gartner,Indian business intelligence (BI) software revenue is forecast to reach US$139 million in 2014, a 15 percent increase over 2013 revenue of $121.2 million.
This forecast includes revenue for BI platforms, analytic applications and corporate performance management (CPM) software.
ďFor the fourth year in a row, analytics ranks as the no.1 priority in Gartnerís CIO Survey. BI is used today to support hundreds of decisions on the strategic and tactical level. Now analytics is also starting to support the hundreds of thousands of decisions on the operational level and is moving from internal support to a sellable asset. The results are impressive,ď said Frank Buytendijk, Research Vice President, Gartner.
ďAs enterprises start to make investments again after the elections, we expect business intelligence and analytics to be one of the key areas of investments to drive revenue growth and improve service efficiencies,Ē said Bhavish Sood, Research Director, Gartner.
We see signs of the emerging importance of BI in India as senior executives are increasingly exploring the different styles of analytics to resolve their business imperatives,Ē said Sood.
Indian CIO's are gaining a better understanding that executive sponsorship and data quality are the two most important reasons that determine the success of BI implementation.
Indian enterprises adopting BI have the advantage of benefiting from earlier adopters in developed markets, rather than needing to build their approaches from the ground up. In order to increase adoption, enterprises should evaluate data discovery, geospatial and mobile based approaches.