BI spending expected to boom in Saudi Arabia

IDC predicts Saudi business intelligence software market to reach $89m by 2018

Tags: IDC Middle East and AfricaSaudi Arabia
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BI spending expected to boom in Saudi Arabia Spending on BI solutions in Saudi Arabia is expected to grow rapidly.
By  Mark Sutton Published  August 31, 2014

Spending on business intelligence and big data technology in Saudi Arabia is set to expand rapidly, according to IDC, with the market expected to reach $89 million by 2018.

The analyst company says investment in business intelligence software tools will grow at 19.4% CAGR, 1.69 times the growth of the total software market in the Kingdom.

IDC said that media attention on Big Data in Kingdom has put business intelligence on the agenda of most senior executives.

"Organisations in Saudi Arabia are investing in BI tools to gain competitive advantage, make informed decisions, and respond to regulatory challenges," said Dhiraj Daryani, program manager for software at IDC Middle East, Africa, and Turkey. "Rising demand for analytics solutions in Saudi Arabia will boost spending on BI software."

Business Intelligence (BI) is a category of computer software tools that enables a company or organisation to gain insight into its critical operations through reporting applications and analysis tools. Well-designed BI applications can give anyone in a company the ability to make better decisions by quickly understanding the various information assets in the organisation and how these interact with each other. These assets can include customer databases, supply chain information, personnel data, manufacturing, product data, sales and marketing activity, as well as any other source of information critical to the organisation's operation.

These solutions will illustrate BI in the areas of customer profiling, customer support, market research, market segmentation, product profitability, statistical analysis, and inventory and distribution analysis. Most companies collect a large amount of data from their business operations. To keep track of that information, a business would need to use a wide range of software programs and different database applications for various departments throughout their organisation.

While the entire BI Tools market is expected to expand at a compound annual growth rate (CAGR) of 19.4%, specifically Advanced Analytics Software is expected to show the highest CAGR of 20.1%.

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