Renowned analyst, research and advisory firm, Gartner Inc, has forecast the Australian Business Intelligence (BI) software revenue to grow by 11.7 percent in 2012.
Should these predictions eventuate – which include revenues from BI platforms, analytics applications and corporate performance management software – the Australian market would reach A$406.4 million by the end of this calendar year.
This would see the Australian BI market outgrow other regions, with Gartner forecasting worldwide BI software revenues to hit almost US$12.5 billion, an increase of 7.2 percent from 2011. Gartner expects BI to remain one of the fastest growing software markets despite current global economic woes. A recent Gartner survey of over 2300 CIOs worldwide revealed BI and analytics as 2012’s top enterprise technology priority.
“The extreme volume, velocity and variety of data will add stress to current approaches to BI and are increasingly capturing the attention of both the BI industry and buyers,” said Gartner Managing Vice President, Ian Bertram.
Bertram said that there was a widening BI maturity gap between organizations in Australia at the moment.
“In Australia, many organizations are still focused on foundational BI concepts that revolve around strategy, skills, competencies and process,” he said. “Then we have organizations looking for more advanced analytics capabilities to build on those foundations. This is really where they need to be to set themselves up for the future.”