|By PR Newswire||
|April 4, 2014 10:13 AM EDT||
DUBLIN, Apr. 04, 2014
/PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/wrc3dw/global_business) has announced the addition of the "Global Business Intelligence (BI) Market in Retail Industry 2014-2018" report to their offering.
The analysts forecast the Global BI market in the Retail industry to grow at a CAGR of 9.19 percent over the period 2013-2018. One of the key factors contributing to this market growth is the increasing volume of information generated in the Retail industry. The Global BI market in the Retail industry has also been witnessing the shift towards predictive analytic tools. However, the high cost of implementation could pose a challenge to the growth of this market.
The report, the Global BI Market in the Retail Industry 2014-2018, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market in the Americas, and the EMEA and APAC regions; it also covers the Global BI market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
There is ongoing migration from traditional analytic tools to predictive analytics (analysis, forecasting, and optimization). The global economic crisis has also increased the requirement for more accurate forecasts and optimized business processes. Most of the vendors have started introducing applications to make statistics, predictive analytics models, and forecasting algorithms in reports, dashboards, and analytic applications.
Predictive analytics tools allow organizations in the Retail industry to identify potential opportunities and threats. For example, an organization can predict which customers are more likely to respond to a marketing campaign based on demographic data and on purchase statistics that include data on frequency of purchase.
According to the report, one of the major drivers in the market is the increasing volume of information generated in the Retail industry. BI tools comprise a series of applications that enable organizations to make better decisions by providing accurate, dependable, consistent, and understandable data and reports in a useful format. Basically, BI means getting the right information to the right people at the right time to support better decision-making and gain competitive advantage.
Further, the report states that one of the major challenges is the high cost of implementation. After purchasing the software license, organizations also need to hire resources for the proper implementation of the software. In addition, post implementation, BI tools need to be upgraded according to current market trends, which is one of the major challenges in terms of cost for SMEs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry.
Key Topics Covered:
1. Executive Summary
2. List of Abbreviations
3. Scope of the Report
4. Market Research Methodology
6. Market Landscape
7. Geographical Segmentation
8. Key Leading Countries
9. Buying Criteria
10. Market Growth Drivers
11. Drivers and their Impact
12. Market Challenges
13. Impact of Drivers and Challenges
14. Market Trends
15. Trends and their Impact
16. Vendor Landscape
17. Key Vendor Analysis
18. Other Reports in this Series
- IBM Corp.
- Infor Global Solutions Inc.
- Information Builders Inc.
- MicroStrategy Inc.
- Microsoft Corp.
- Oracle Corp.
- QlikTech Ltd.
- SAP AG
- SAS Institute Inc.
- Tibco Software Inc. (Spotfire)
For more information visit http://www.researchandmarkets.com/research/wrc3dw/global_business
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
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