Business Intelligence (BI) budgets will grow almost 5% in 2006, driven by the need to 'turn the torrent of data' churned out by CRM, ERP and other enterprise applications into meaningful business information.
These insights will enable companies to respond faster to business opportunities, as well as meet regulatory pressure more easily and measure performance better.
'Moving forward, BI will become part of innovation itself,' says Gartner research vice-president Frank Buytendijk.
Gartner estimates the BI software market will tip £1.7bn by 2009, but warns that a shortage of BI skills could hamper this growth. Uncertainties over total cost of ownership and quantifying business benefits could also knock BI off course.
There are no quick fixes, warns Buytendijk. 'One of the key decisions is to move beyond a BI vision that focuses almost exclusively on information dissemination and start integrating BI into an organisation’s strategic planning activities,' he says.
Companies must integrate BI into business processes and develop a culture where the use and analysis of information is integral to driving business change.
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