By the end of the year, the world will produce and share 44 trillion gigabytes of data, but only 35% of it can be useful for analysis.
How much data do your company and customers generate?
Do you use it to increase profit, or does it all go to waste?
Let's go over the problems business intelligence software development can solve and how they apply to your company.
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During the pandemic, every business is running at an exponential loss.
The COVID-19 times have been challenging for all of them, irrespective of the brand’s size and clientele.
Companies are hustling to balance their job amidst the shutdown, and the financial crunch is making it difficult to beat the challenges.
That is why an out-of-the-box method to break out of these shackles is the need of the hour.Business Intelligence Solutions are important in the current pandemic.
If you want to know why and how, read the article below to know all about it - Business Intelligence Required in Pandemic.
According to a new market research report " Business Intelligence Market by Type (Platform, Software, Service), Data type (Unstructured, Semi-Structured, Structured), Business Application, Organization Size, Deployment Model, Industry Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets™, The global Business Intelligence (BI) market is estimated to grow from USD 17.09 Billion in 2016 to USD 26.88 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 9.5%.BI helps business users access business data and perform queries to generate insights.
It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools & techniques.Browse and in-depth TOC on “Business Intelligence Market”89 - Tables46 - Figures167 - Pages Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1048Business Intelligence (BI) tools enable enterprises realize crucial benefits, such as cutting losses, creating new opportunities, saving costs, and increasing efficiency by analyzing and acting on any business issue.
The major growth drivers of the Business Intelligence market include increasing adoption of cloud, growth of advanced analytics, adoption of data driven decision-making, and emergence of Internet of Things (IoT)-enabled technologies.Many organizations across various verticals have been utilizing BI tools to enhance their decision-making abilities.
First, the growing market pressures, such as global rivalry, regulations, slender margins, and quickened design cycles, which compel organizations to have the capacity to take quick decisions based on business data.
Second, owing to rapid digitization, more data is being generated by the systems, devices, equipment, automation, and products than ever before, which requires the use of robust BI tools for real-time analysis.
Hence, organizations are adopting BI tools to gather valuable insights that would simplify and streamline the decision-making process in real-time.BI solutions are used widely by major verticals globally, such as Banking, Financial Services, and Insurance (BFSI); telecommunications & IT; retail & consumer goods; healthcare & life sciences; government & defense; manufacturing; energy & utilities; media & entertainment; transportation & logistics; and others, for various business needs.
Learn how a properly constructed business intelligence dashboard can make the difference between a good company and a great company by transforming data into real-time, actionable insight about its performance.
