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Business analytics software market set to grow

Rachel Wheeler Archive
The need for a high level of data quality may become even more prevalent as the International Data Corporation (IDC) predicts that the business analytics software market will grow.

Indeed, the body claims that the sector will come to the forefront of business activities as end users become more familiar with how the technology and practices can improve competitiveness.

As a result, IDC believes that the market will grow at an annual compound growth rate of seven per cent over the 2009 to 2014 period, with even greater growth expected over the next ten years.

IDC's research shows that end users are hearing more about the benefits of business analytics from widely publicized cases about large retailers, social networking sites and other organizations that generate and analyze vast amounts of data.

As business analytics becomes better understood, IDC believes both vendors and end users should shift away from the discussion of data (or content) and toward discussions about decision making.

Posted by Paul Newman