Asia's business intelligence market spells big money
Published: 04 Jul 2002 07:57 BST
Business Intelligence (BI) solutions are hot-sells in Asia's corporate world, a recent study by IDC Asia-Pacific has revealed.
BI solutions are made up of software tools such as data mining and data warehousing, that enable users to obtain enterprise-wide information more easily.
According to IDC, the business intelligence market will experience a compound annual growth rate of 23 percent to reach $3.3bn in 2006.
This segment is currently worth $1.2bn, where 43.5 percent comes from Australia and New Zealand, while South East Asia, India and Korea contribute 35.3 percent. Greater China constitutes the remainder of the pie.
The primary agents fueling the BI market will be a growth in storage, data warehousing, customer relationship management (CRM) solutions and Internet usage, IDC said.
"As organizations move from the initial stages of data warehousing utilization to full scale deployment, spending priorities will shift from simply capturing and storing data, to delivering intelligent information to a wider range of users throughout the organisation," said Robin Giang, IDC research manager for IT Solutions.
"The attractiveness of BI solutions is that they enable organisations to transform their unstructured data into market intelligence, and channel the information to the right people at the right time so business decisions can be made and executed swiftly," Giang said in a statement.
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