Studies suggest the Business Intelligence market is growing well worldwide

Business Intelligence

Establishing a business intelligence company is likely to be the next big thing and one of the most viable ideas in the business world. The major players in the business intelligence sector include Oracle, Microsoft, and IBM. A new report titled “Global Business Intelligence Market in the Healthcare Sector 2018-2022” provides in-depth analysis, practical strategies, prospects and competitive analysis of the industry. The report provides an in-depth geographical analysis that covers various regional markets in the world including Latin America, Asia Pacific, Europe, and North America.

The comprehensive report provides potential investors with critical insights, future growth prospects, and future trends in the next four years. The market report was compiled by HTF Market Intelligence consulting Private Ltd, a reputed and well established business intelligence company. According to HTF, the major players in the international business intelligence sector, healthcare segment include: SAP, Oracle, Microsoft, and IBM.

A senior analyst from HTF has affirmed that the most popular trend in the market is the fast-growing nature of mobile BI. Consumers continue to fast adopt smart devices including tablets and smartphones. Additionally, many organizations have continued to embrace the idea working-from-home to boost the mobility of workers. As a consequence, employees working from remote areas have remarkably increased in the recent past.

The HTF report also suggests that the main driver for the business intelligence (BI) market is the vast acceptance of data analytics. The healthcare industry is adopting data analytics to make cost savings, enhance revenue, and optimise the efficiency. Data analytics also assist in eliminating the strenuous process of assessing the requirements of patients and tracking the health data. Therefore, data analytics is helping many organizations to assess the data patterns to provide patients with personable healthcare services and optimise the levels of patient satisfaction.

The report also points out that the existence of many open-source BI vendors hinders the growth of the BI market. The number of open-source vendors providing a wide range of BI applications and BI tools has remarkably increased in the market. The major vendors include JasperReport, KNIME, SpagoBI, BIRT, and Pentaho. The many open-source vendors provide a vast assortment of products that can provide diverse functionalities provided by on-demand or on-premises BI software.

In essence, the HTF report combines both primary and secondary data including feedback from the core participants in the market. The report also includes in-depth vendor and market analysis to reinforce the SWOT analysis of the major vendors. A business intelligence company needs to be strategically positioned to help potential investors identify and exploit the available growth opportunities. Successful BI companies have vast experience, the right research tools, and exceptional leadership that assist prospects to realise their business goals as soon as possible.

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