Half of companies will have business intelligence apps in place within next 12 months, IDC survey reveals
Framingham, MA October 27, 2003 Enterprises are turning to business intelligence (BI) solutions in order to leverage the avalanche of information they are gathering through such applications as enterprise resource management, customer relationship management and data warehousing, according to a new survey by technology research firm IDC.
In fact, 39.9 percent of North American companies surveyed by IDC have already installed BI solutions, and another 10.9 percent are planning to implement BI solutions in the next 12 months. Among large enterprises, nearly two-thirds of the companies surveyed have a solution in place or have plans to install one.
"The wide reaching benefits BI solutions bring to the organization are proliferating the usage of BI technologies across vertical industries," said Lucie Draper, IDC's program manager for enterprise technology trends.
Draper said that end-user organizations are implementing BI solutions to consolidate and analyze raw data and transform these data into conclusive, actionable information. "BI implementations allow companies to spot trends, enhance relationships and create new sales opportunities for their business," the analyst said.
In its new study, "Business Intelligence and Data Warehousing Adoption: Vertical Market and Company Size Analysis," IDC details various aspects of this market and how BI tools can help companies in different vertical industries.
The research firm reports that BI tools can benefit companies in a number of ways, including:
- Supporting decision-making: By organizing and supporting access to information, BI and data warehousing tools can help enterprises make more informed decisions.
- Improving interaction with customers: Enterprises are looking to apply analytics toward better serving their customers and improving sales by better understanding customer needs.
- Driving business performance: These tools will make it easier and faster for employees to find the information they need.
Key market segments covered in the IDC report include end-user query and reporting, online analytical processing (OLAP) tools and data mining tools.