Business intelligence software has been playing an increasingly vital role in the modern economy and global business landscape, as the top 10 business intelligence software companies are some of the best business intelligence solution providers, powering countless small, medium and big enterprises around the word to achieve bigger success. With the emergence of new technology – such as the Internet of Things (IoT), big data, cloud services etc — continue to shape the way business is done, the global demand for business intelligence software or business intelligence programs are growing at a rapid pace. The top 10 business intelligence software companies are also expected to further strengthen their leadership in the market by providing better and smarter BI tools for different business intelligence needs. This is our list of companies using business intelligence shaping the future for the better.
What Is Business Intelligence Software and Why Is It Important?
Business Intelligence (BI) refers to the strategies or solutions used by enterprises for the data analysis of business information, in order to improve decisions and performance. Business intelligence tools can help to capture, store, monitor and analyze all sorts of business data, so that can provide historical, current and predictive views of business operations and extract best practices for improved decision making. More and more companies are nowadays using business intelligence software or other business intelligence tools to detect business trends and identify business opportunities. Such process of identifying new opportunities and implementing effective strategies based on business data analytics and market insights will give businesses more competitive market advantages and greater potential to grow.
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In a recent Deloitte report, it was found that 44% of companies think of business intelligence as enablers or disruptors of their business model, making business intelligence something you can’t ignore as an organization. Here are some examples of companies using business intelligence; A company using business insights in the form of data, or reports that will let said company gain a competitive advantage in the form of what products to sell, where to sell it, the right time to promote etc. Another popular example is using increasing customer loyalty by collecting data and leveraging that data into what type of customers segments to target and prioritize. These are just some examples of the top 10 business intelligence software companies are using to stay at the top of their business.
Global Business Intelligence Software Market Overview
According to a recent market research from Gartner, the global business intelligence software market revenue was estimated to be $18.3 billion in 2017, an increase of 7.3 percent from 2016. This figure is forecasted to grow to $22.8 billion by the end of 2020. Gartner reports that the modern business intelligence tools market is expanding, mainly driven by several factors including the development of modern BI tools which can be used without IT assistance; the emergence of smart data discovery capabilities, machine learning and automation driven software; the ability to rapidly prepare, clean, enrich and find trusted datasets in a more automated way; generation of real-time insights from streaming data sourced from devices and sensors; easy cloud deployments of BI and analytics platforms to reduce cost of ownership and speed time to deployment. The following top 10 business intelligence software companies are expected to continue leading the global market with higher revenues and bigger market shares in the near future. This is a comprehensive breakdown of our business intelligence software companies list.
Top 10 Business Intelligence Software Companies in the World for 2018
SAP – global market share: 16%
SAP is a German-based multinational software and IT corporation that specializes in providing enterprise software to manage business operations and customer relations. SAP is headquartered in Walldorf, Germany with regional offices in 180 countries. SAP’s Analytics Cloud is an end-to-end BI platform with dashboards, machine learning built in to surface key insights, and integrated planning features. SAP is an influencer among the top business intelligence software companies.
Oracle – global market share: 12%
Oracle is a California based technology corporation specializing in providing computer hardware systems and software to individuals and businesses. Oracle is one of the world’s top 10 largest software and IT companies. Oracle is also one of the most widely respected companies around and their business analytics solutions are considered of the highest quality. Oracle’s expertise extends over to big data solutions also as one of the top data analytics companies in the USA.
SAS – global market share: 11%
SAS is one the world’s top 10 business intelligence software vendors. It has a self-serve analytics platform called Viya and has been busy adding AI and automation capabilities over the past year. Aimed at both hardcore data scientists and business users, Viya is a massive platform of capabilities for all expertise levels, from Visual Analytics for reports and dashboards to event stream processing and complex model management.
Microsoft – global market share: 9%
Microsoft Power BI is one of the world’s most popular business intelligence software that is existing Microsoft shops. It’s a simple software to use for building reports and dashboards for business data, collaborating and sharing across devices. It integrates with many data sources, SQL databases and even Spark, stored either on-premise or in the cloud. Microsoft has also invested heavily in cloud-based business intelligence in 2018.
IBM – global market share: 9%
IBM Business Intelligence software offers self-serve analytics powered by its machine learning Watson platform through visualizations and guided analytics that is available across devices. The prevalence of machine learning means IBM can tout smart data discovery, natural language queries, automated predictive analytics and cognitive capabilities out of the box for your own data.
Tableau – global market share: 5%
Tableau is a software company that is focused on providing solutions that effectively allow people to see and understands data. As a business analytics company, Tableau presents data through software that uses the latest technologies, Tableau aims to assist their clients in using data to solve their problems. The company caters to both individuals and businesses. Tableau offers three main products that analyze big data: Tableau Desktop, Tableau Server, and Tableau Online.
Qlik – global market share: 4%
Qlik is an established name in the data visualization and one of the top data analytics companies in the USA, BI and analytics space and offers a well-rounded portfolio of products. Qlik breaks up its products according to how much support you require. Customers can choose from a self-service solution called Qlik Sense, the original guided analytics QlikView, a guided and embedded analytics option called Qlik Analytics Platform or external data feeds through Qlik DataMarket.
MathWorks – global market share: 4%
MathWorks, Inc is an American privately held corporation that specializes in mathematical computing software. Its major products include MATLAB and Simulink, which support data analysis and simulation. Today, MathWorks is the leading developer of mathematical computing software for engineers and scientists. Founded in 1984, MathWorks employs over 4000 people in 16 countries, with headquarters in Natick, Massachusetts, U.S.A.
Palantir – global market share: 3%
Palantir Technologies is an American software and services company and one of the top business intelligence companies which specializes in big data analytics. Headquartered in Palo Alto, California, the company is known as the BI software provider for United States Intelligence Community (USIC), United States Department of Defense, fraud investigators at the Recovery Accountability and Transparency Board, and cyber analysts at Information Warfare Monitor. Palantir’s business intelligence tools are also used by hedge funds, banks, and financial services firms.
MicroStrategy – global market share: 2%
MicroStrategy Incorporated is an American company that provides business intelligence (BI), mobile software, and cloud-based services. MicroStrategy provides effortless access to all business data from one place. The MicroStrategy platform supports interactive dashboards, scorecards, highly formatted reports, ad hoc query, thresholds and alerts, and automated report distribution. Interfaces include web, desktop (for developers) and Microsoft Office integration. MicroStrategy Mobile also supports mobile BI.
Future of the Top 10 Business Intelligence Software Companies in the World
The global business intelligence software market has been booming over the last decade. The usage of business intelligence tools is becoming increasingly customized. The development of cloud services, big data, IoT and artificial intelligence continues to be the driving force of the global business, Businesses of all sizes are no longer asking if they need increased access to business intelligence analytics but what is the best BI solution for their specific business. It’s expected that business intelligence software spending around the world is maintaining a rapid pace of growth in the near future, while these top 10 business intelligence software companies are forecast to continue to be some of the best BI solution providers and market leaders in terms of technologies & innovations of data analytics, data visualizations, and data quality management.
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