A Key Trend: Increased Growth in Business Analytics
Business Intelligence Analytical tools, or predictive modeling, now can predict the monetary value and profitability of a particular customer: from profiling customers based on their behavior to segmenting markets, from predicting customer purchases based on past purchase information and psychographic/demographic data and from determining cross-selling opportunities. Marketers are finding out that analytics programs are beneficial for tailoring marketing messages without violating privacy and other government regulations. Business Intelligence Analytics will remain an important part of the corporate agenda as companies find that they face a 10-fold increase in the amount of data generated by their IT systems until 2011. The expansion of social networking will lead to a tremendous increase in unstructured data, leading to an increased demand for business analytics software that combines text analytics, sentiment extraction and related technologies to find patterns and trends among social networking users. In addition with the current economic downturn, businesses will use their business intelligence analytical tools to carefully scrutinize the effectiveness of their marketing campaigns and sales endeavors in adding value to their firm.
The Gartner Group projects that the worldwide market for Business Intelligence (BI) platforms will grow at a compound annual growth rate of 8.1% through 2012, to reach $7.7 billion in 2012. The BI platform revenue will be less affected by the current economic downturn than other technologies because of the high priority that BI platforms hold with CIOs.
As an example of the growth and increased interest among organizations for business analytics: IBM has just acquired Netezza for $1.7 Billion. For more details on this business analytics acquisition by IBM, please click on this Weblink: http://tinyurl.com/294hy6z
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