The key word to understanding business intelligence is growth.
The gross amount of raw data available to companies is expanding at a staggering rate, and somehow, time and money-constrained small business owners are expected to manage (and utilize) this overwhelming amount of information. This is where Business Intelligence comes in. With the help of BI software, even the smallest of businesses can compile seemingly incomprehensible data points into one easy-to-use summary. Mass amounts of customer information (online or off) can be converted into actionable information and executive level decision makers are able to see trends and tangible market opportunities.
Because of these capabilities, industry giants like WalMart, Harrah’s, and Amazon have been able to outperform their competition. Luckily, this growth has spurred companies to make BI software and various levels of analytics available to smaller businesses as well. With SMBs in the mix, the Business Intelligence software market is forecasted to reach $17.1 billion by 2016. To find out more about the growing importance of business intelligence and which BI vendors are best for your business, check out our infographic below.
Click the image below to:
- Understand just how quickly the BI industry is growing
- See where companies are spending their money
- Learn the most desirable traits of BI software
- Discover emerging BI vendors