LONDON — (BUSINESS WIRE) — February 5, 2015 — TechNavio, a tech-focused research firm, has published a list of the Top 18 Business Intelligence Software Companies.
Social media helps organizations create and maintain their brand image and collect information, which helps in understanding customer needs.
“The use of social media for business generates a huge volume of data, but creates a gap between understanding the data and using them to benefit the organization. BI bridges this gap and converts unstructured data into actionable insights,” says Faisal Ghaus, Vice President of TechNavio.
Social BI uses enterprise tools such as CRM and marketing automation with BI output to help organizations make enhanced and well-informed decisions. It is usually managed by a third-party analytical software solution that combines project management and social media engagement techniques, which helps interpret the data generated from social networking sites.
The Global Social BI Market was valued at US$0.57 billion in 2014 and is expected to reach US$2.44 billion by 2019, growing at a CAGR of 33.79 percent.
“Big companies, BI vendors, and core social media marketing vendors, including IBM, Oracle and SAP are expected to rely on mergers and acquisitions to improve their global presence, and increase their reach to customers as well as their market share over the forecast period,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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