The market for business intelligence software will grow consistently over the next three years to reach £3bn in 2009, rising from £2.35bn last year, according to Gartner.
This year, the analyst group is forecasting growth of 6% in business intelligence – lifting sales to £2.5bn.
Colleen Graham, principal research analyst at Gartner, told delegates at Gartner’s annual Business Intelligence summit in London that the widespread use of enterprise applications like ERP, CRM and HR packages was generating significant volumes of data that firms were starting to put to better use.
“By investing in business intelligence, companies can further leverage their enterprise application investments and turn the torrent of data into meaningful insight, to better measure performance, respond more quickly to market changes and opportunities, and comply with an increasingly complex regulatory environment,” said Graham.
Evidence that business intelligence is high on the CIO’s agenda was also supported by Gartner’s recently published survey of 1,400 CIOs from around the world, which revealed that better use of business intelligence is at the top of their technology priorities this year.
“Business intelligence is now part of an organsiation’s licence to operate, as every enterprise needs to manage information,” said Frank Buytendijk, research vice-president and conference chair at Gartner.
“However, business intelligence has not yet achieved the necessary level of strategic importance and is not included as an essential part of corporate planning activities.”