Eye-Opening Business Intelligence Statistics
Business Intelligence (BI) software has rapidly gained adoption. In 2020 alone, 54% of enterprises agreed that cloud-based BI was vital to their current and future initiatives.
The Business Intelligence market in the U.S. is estimated at US$ 6.1 Billion in the year 2020 and is forecast to reach a projected market size of US$ 7.4 Billion by the year 2027.
According to Research and Markets, significant growth has been reported all over the world, the global market for Business Intelligence is estimated at US$ 22.4 Billion in the year 2020, is projected to reach a revised size of US$ 34.5 Billion by 2027.
TechJury did a deep dive analysis and hand-picked some of the most relevant business intelligence statistics for 2021.
Here are some of their takeaways:
- By 2023, over 33% of large-sized businesses will practice decision intelligence.
- Data analytics makes decision-making 5x faster for businesses.
- 7 out of 10 businesses rate data discovery as very important.
- Most businesses adopted business intelligence in 2020.
One of the biggest challenges business leaders face is putting together the right pieces of information together to gain a holistic view of the company’s operations – and it only gets harder the bigger the organization grows. This is why more and more businesses are transitioning to Business Intelligence software for their data analysis needs.
At Bilflo, we believe that in order to maximize your company’s resources and be ready for growth, you need to have access to real-time business intelligence that you can quickly gather insights on your organization’s data and overall health.
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