BIIA (Business Information Industry Association) has been tracking product announcements in the business information space for some time. It has become evident that advanced analytics, also known as predictive analytics are now the fastest growing segment within business information.
Companies acquiring capabilities: During the first nine months we tracked 231 company announcements involving acquisitions, new product developments, partnerships and international expansion.
Surprisingly companies chose to grow through acquisitions rather than through internal product development. Acquisitions were sharply up to 39% from 26% in the previous year. Partnerships remained at par with last year’s benchmarks.
Analytics, Platforms and Mobile Apps are the front runners. Oracle, Salesforce.com and Gartner, all recently held their annual conferences and their themes were similar. The convergence of mobile, analytics and the cloud are driving the future of business, and data is the crucial element that underlies the seismic shift in how businesses will operate. Customers expect to have access to data and insights wherever they work, whether it’s on their desktops or with their mobile devices, and they want it available across their enterprises, especially when it’s embedded in their workflow. Accordingly we have added mobile services to our list. This category was previously categorized as ‘others’.
Since analytics, platforms, mobile apps and big data generally go hand in hand, these combined solutions make up more than 50% of product introductions during the first nine months of 2014.
Source: BIIA Analysis