Indian business intelligence (BI) software revenue is forecast to rise 16 per cent to reach $113 million in 2013 from $98.1 million in 2002, according to a study by Gartner.
“Pressures from consumers, environmental policies, government and industry regulations, international standards of quality, and internal operational efficiency are forcing enterprises to improve their operations and processes to become both agile and efficient in a volatile marketplace,” said Bhavish Sood, research director at Gartner.
“These internal and external pressures are driving increased adoption of analytics solutions across the country,” he added.
This forecast includes revenue for BI platforms, analytic applications and corporate performance management (CPM) software.
“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,” said Ian Bertram, managing vice president at Gartner.
“There is an increased emphasis on the metrics management and growing use of performance management. Software and service providers are increasing marketing spend on BI thus leading to higher visibility. In many industries, especially the regulated ones, such as telecom and financial services, clients are setting up dedicated competency centres focused on the use of information,” Bertram added.
Indian CIO's are gaining a better understanding of the non-IT competences required for successful BI implementation. However, a general lack of talent across all fields of information management in organisations will continue to be the critical barrier to their successful adoption of business analytics initiatives. The increasing interest in big data creates new challenges across these areas.