BI Platform Market Expected to Reach $14,218.6 Million by 2019

According to a new market research report, "Business Intelligence Platform Market by Deployment (Cloud, On-Premise), by Industry (Healthcare, Retail, Government, BFSI, Telecom & IT, Media & Entertainment, Education, Energy & Power, Manufacturing, Others) - Global Forecasts to 2019", published by MarketsandMarkets, the overall business intelligence platform market size is expected to grow from $8,953.0 Million in 2014 to $14,218.6 Million in 2019, at an estimated CAGR of 9.7%.
The report also identifies the factors driving this market, various restraints, and opportunities impacting it along with the adoption trends.
With the enormous rise in the data generated in organizations, business intelligence and analytics industry have been rapidly growing. Business intelligence and analytics solutions offer attractive opportunity to the organizations that are yet to be fully embraced. These solutions help the companies to analyze structured and unstructured data generated at various sources and transform the same into useful and meaningful insights. Organizations now look for these solutions in order to solve their business problems that also help them improve their overall business performance and stay competitive in the market.
Investing in these expensive business intelligence and analytics solutions has been a major challenge for the organizations, especially for Small and Medium Businesses (SMBs). Business intelligence platform provides the organizations with an opportunity to develop their own intelligence and analytics solutions catering to their specific business needs at an affordable price. This platform provides IT developers with the architecture and infrastructure required to develop, deploy, and execute the business intelligence solutions - that help them take improved business decisions through comprehensive analysis of the available data.
In the last few years business intelligence and analytics has opened up new opportunities for organizations to analyse the data, and use these solutions to enhance the overall efficiency of businesses. However, the potential of this tool has not been fully exploited due to the complex implementation process and lack of experienced professionals in the organizations.
Business intelligence platform offers an impressive number of new opportunities to the organizations and help them generate data driven insights with the help of data mining, dashboards, reporting and query, OLAP and visualization, and other features of the platform.

The major vendors of the global Business Intelligence Platform Market are SAP, SAS, IBM, Oracle, Microsoft, Tibco Software, Microstrategy, Tableau, Qlik, and Pentaho. The major factors driving the adoption of business intelligence platform are - increase in data generation, low cost of data storage, affordability, increasing competition, need to take better business decisions, and mobile business intelligence.
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