Banks rush to invest in business intelligence

The spend by retail banking institutions on business intelligence (BI) IT in North America, Europe, the Middle East and Asia-Pacific, will reach £4.5bn by 2012, up from the £2.8bn in 2006, says analyst Datamonitor.

The spend by retail banking institutions on business intelligence (BI) IT in North America, Europe, the Middle East and Asia-Pacific, will reach £4.5bn by 2012, up from the £2.8bn in 2006, says analyst Datamonitor.

According to Datamonitor's "Business Intelligence in Retail Banking" report, the combination of compliance requirements, a competitive business environment, the sub-prime credit crunch and the need for stronger management will drive retail banks' investment in BI software.

Given the sector's growth of IT budgets devoted to BI, said Datamonitor, many suppliers from diverse backgrounds, such as reporting, analytics, data management and operations, have rushed to claim their stake by adapting their definition of BI to fit their offering.




Read more on Business intelligence software

Start the conversation

Send me notifications when other members comment.

Please create a username to comment.

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

  • How do I size a UPS unit?

    Your data center UPS sizing needs are dependent on a variety of factors. Develop configurations and determine the estimated UPS ...

  • How to enhance FTP server security

    If you still use FTP servers in your organization, use IP address whitelists, login restrictions and data encryption -- and just ...

  • 3 ways to approach cloud bursting

    With different cloud bursting techniques and tools from Amazon, Zerto, VMware and Oracle, admins can bolster cloud connections ...

SearchDataManagement

Close