Friday 19 April 2013
Analyst firm IDC has predicted continued growth in business analytics services spending over the next five years.
In its newly published worldwide business analytics services outlook, the company forecast a compound annual growth rate (CAGR) of 14.3 per cent for the market segment.
Total spending should reach $70.8 billion (£92.5 billion) by 2016, IDC claimed.
Mukesh Dialani, research director for worldwide business process outsourcing and engineering services at the firm, said IT services providers are leveraging their business analytics solutions and experience to assist their customers with their efforts to find key insights into organisational performance.
"These include industry-specific and functional resources, infrastructure, and knowledge of best business practice industry performance metrics," he stated.
According to IDC, a lack of internal analytics resources, the fast pace of innovation, and the desire to demonstrate an increased number of transformative use cases will persuade firms to increase investment in this area.
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