News Article - 07 April 2008
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The market for business intelligence (BI) software is expected to boom this year, as organisations look at ways to streamline business processes and operations.

A new poll of 1,500 chief information officers (CIOs) by Gartner found that organisations are being cautious about outlay over the first half of 2008.

However, the BI software market worldwide is predicted to increase by $5.8 billon (£2.9 billion) this year, an 11.3 per cent rise compared with 2007, as more companies choose to monitor business progress.

Dan Sommer, Gartner senior research analyst, said: "The fact that BI has held the top spot with CIOs in this survey for three years running makes us believe that BI will be more resilient against the effects of a possible downturn in IT spending than some other technologies."

Concerns over the weak US economy following the recent credit crunch have increased, but Gartner forecasts that the international BI market will grow by 8.1 per cent over the next four years.

Business intelligence is a term used to describe technology that helps firms to make more informed business decisions through statistical data mining and analysis, streamlining processes and improving their competitive edge.

Companies can strengthen their operations and business performance during the current climate of economic uncertainty by investing in BI and management reporting software.

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