Demand for business analytics solutions growing as benefit awareness grows: IDC

©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.

eChannel Line, 10/11/10

A new report published by IDC says the market for business analytics software and solutions will grow as end users become more familiar with how the technology and related business practices can be used to improve competitiveness. As a result, IDC forecasts the business analytics market to grow at a compound annual growth rate (CAGR) of 7.0% over the 2009-2014 forecast period with even greater growth expected over the next ten years.

“After three decades of existence, the business analytics market is finally reaching the mainstream market and gaining status as a formal management discipline,” said Dan Vesset, program vice president for IDC’s Business Analytics Solutions research. “As the benefits of business analytics become better known, especially among executives, the demand for a wider range of solutions and services will create new opportunities and drive the market to new heights.”

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