The FINANCIAL — Indian business intelligence (BI) software revenue is forecast to reach US$245 million (in constant currency) in 2017, a 24.4 percent increase over 2016 revenue of US$206 million, according to Gartner, Inc.
This forecast includes revenue for BI platforms (comprising of traditional and modern BI platforms), data science platforms, analytic applications and CPM Suites.
Gartner analysts are examining the key issues facing the data and analytics market during the Gartner Data and Analytics Summit, which is taking place here through Wednesday.
This year the summit theme has shifted from solely BI/analytics and incorporates the key elements of data management, such as data integration, data quality, data governance, master data management (MDM), and the upcoming tools, architectures, processes, skills and roles that together allow organizations to leverage data as an asset. Digital business dynamics are changing the complete field of data and analytics.
Indian chief information officers (CIOs), chief data officers (CDOs), and other data and analytics leaders must evolve traditional approaches to focus on business outcomes, go with the market trends, benefit from algorithmic business, adopt new technologies and most importantly build trust.
“The data and analytics market is undergoing a significant change. Adoption of machine learning techniques for data management and analytics, the settling of hype around big data through more mature data storage, and processing and analysis solutions are a few of the changes. We are also seeing the rapid shift to the cloud and hybrid data management through focused offerings, and the emergence of modern BI platforms, smart data discovery and self-service data preparation solutions, which are all fueling the next round of investments,” said Ehtisham Zaidi, principal research analyst at Gartner.
“We are also seeing a huge focus on Internet of Things (IoT) data integration, data management and analytics by Indian companies, particularly in the consumer packaged goods (CPG) and manufacturing sector, who are determined the lead the market through competitive differentiation in these key areas,” Mr. Zaidi said.
The BI platforms segment (comprising of modern and traditional BI platforms) continues to lead the BI software market in India. All segments of the BI software market (other than the traditional BI segment) are expected to experience double-digit growth in the next two years in India.
“We see signs of the emerging importance of data management and analytics in India as senior executives are increasingly exploring the different styles of analytics to resolve their business imperatives,” said Mr. Zaidi. “There is an increased emphasis on the ability to access, monitor, process and analyze the ever growing organizational data due to the advent of IoT, big data and cloud for business management, and strides towards a digital business. Big data use cases are maturing and have executive visibility. This is leading to more investments in data management and analytics.”
Purchasing decisions continue to move from IT leaders to line-of-business executives and users who want more agility and more flexible personalized options — making the land-and-expand model the new norm. This is in stark contrast to the large, enterprise-scale deals that fueled double-digit growth at a time when IT had larger budgets and wielded much more influence in buying decisions,” Mr. Zaidi said.
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