Social Business Intelligence Market 2019 - Industry Key Trends, Growth Prospects and Forecasts to 2028
Researchmoz added Most up-to-date research on "Social Business Intelligence Market: BFSI Segment Expected to Emerge the Undisputed Leader by Vertical Throughout the Forecast Period: Global Industry Analysis and Opportunity Assessment 2016-2026" to its huge collection of research reports.
Social business intelligence refers to the management technique that merges groups to share data effectively in order to improve overall efficiency of operational processes. It offers better opportunities to employees for recognising customer demand through open management of product and resources. Social business intelligence also aids in improving various aspects of analysis, social media and analytics.
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Revenue generated from the deployment of social business intelligence solutions worldwide is estimated to be nearly US$ 17 Bn in 2017, and is projected to reach a market valuation of nearly US$ 29 Bn by 2026, reflecting a CAGR of 6% over the forecast period (2016-2026).
Increasing adoption of cloud-based technologies and growing usage of social media are the major drivers boosting revenue growth of the global social business intelligence market
Growing usage of social media is driving the demand for big data globally
Presently, most of the private organisations are adopting big data solutions to capture and store large amounts of unstructured data. Big data supports in managing unstructured data fully or partially from enterprise IT systems, CRM conversations and social media. Big data offers hadoop solutions, which enable users to manage, store and analyse data across numerous resources efficiently. For instance, in September 2014, Oracle launched business intelligence cloud service which aids to improve speed and decision making across organisations by lowering barriers. Moreover, big data solutions also offer secure, comprehensive information access with simplicity and cost effectiveness.
Security vulnerabilities is a big challenge hampering revenue growth of the global social business intelligence market
In social business intelligence systems, one of the main challenges faced by organisations while adopting cloud services is data security. With an increase in the demand for cloud-based services, most of the organisations are shifting their workloads to the cloud from on-premise systems. Security breaches and privacy concerns pertaining to sensitive data are big challenges faced by vendors offering cloud-based solutions.
Positive outlook of BI towards Hadoop can be a good growth opportunity for players in the global social business intelligence market
Installation of new enterprise data operating systems over SQL servers would have a positive impact on the global social business intelligence market. Distributed analytic framework such as MapReduce will gradually turn Hadoop into a general-purpose data operating system. Hadoop offers adequate performance with optimal costs and also handles different kind of workloads such as steam processing and graph analytics. This, in turn, is likely to drive the demand for Hadoop implementation in social business intelligence and will boost the market in the long run.
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Wearable devices gaining popularity in the North America social business intelligence market
The growth of the IoT is adding to the vast pool of data with everything from television, cars, smart watches and other devices producing data that may or may not hold valuable insights for the business. Providers of enterprise application software such as Qlik Technologies, along with established players such as Oracle Corporation, IBM Corporation and others are among the main beneficiaries. Health monitoring is gaining traction among the population in North America. Devices that can monitor various bodily data from heart health to sleep patterns and suggest lifestyle adjustments is gaining penetration among the population of North America. In October 2015 for instance, IBM Corporation redesigned its flagship BI solution with built-in accelerated modelling and reporting. Global BI solution vendors are investing in structured R&D initiatives to utilise wearable technology in business. The big game plan is to take big data to a whole new level.
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Social business intelligence refers to the management technique that merges groups to share data effectively in order to improve overall efficiency of operational processes. It offers better opportunities to employees for recognising customer demand through open management of product and resources. Social business intelligence also aids in improving various aspects of analysis, social media and analytics.
Have Any Query? Ask Our Expert @ https://www.researchmoz.us/enquiry.php?type=S&repid=1287899
Revenue generated from the deployment of social business intelligence solutions worldwide is estimated to be nearly US$ 17 Bn in 2017, and is projected to reach a market valuation of nearly US$ 29 Bn by 2026, reflecting a CAGR of 6% over the forecast period (2016-2026).
Increasing adoption of cloud-based technologies and growing usage of social media are the major drivers boosting revenue growth of the global social business intelligence market
Growing usage of social media is driving the demand for big data globally
Presently, most of the private organisations are adopting big data solutions to capture and store large amounts of unstructured data. Big data supports in managing unstructured data fully or partially from enterprise IT systems, CRM conversations and social media. Big data offers hadoop solutions, which enable users to manage, store and analyse data across numerous resources efficiently. For instance, in September 2014, Oracle launched business intelligence cloud service which aids to improve speed and decision making across organisations by lowering barriers. Moreover, big data solutions also offer secure, comprehensive information access with simplicity and cost effectiveness.
Security vulnerabilities is a big challenge hampering revenue growth of the global social business intelligence market
In social business intelligence systems, one of the main challenges faced by organisations while adopting cloud services is data security. With an increase in the demand for cloud-based services, most of the organisations are shifting their workloads to the cloud from on-premise systems. Security breaches and privacy concerns pertaining to sensitive data are big challenges faced by vendors offering cloud-based solutions.
Positive outlook of BI towards Hadoop can be a good growth opportunity for players in the global social business intelligence market
Installation of new enterprise data operating systems over SQL servers would have a positive impact on the global social business intelligence market. Distributed analytic framework such as MapReduce will gradually turn Hadoop into a general-purpose data operating system. Hadoop offers adequate performance with optimal costs and also handles different kind of workloads such as steam processing and graph analytics. This, in turn, is likely to drive the demand for Hadoop implementation in social business intelligence and will boost the market in the long run.
Make an Enquiry of this report @ https://www.researchmoz.us/enquiry.php?type=E&repid=1287899
Wearable devices gaining popularity in the North America social business intelligence market
The growth of the IoT is adding to the vast pool of data with everything from television, cars, smart watches and other devices producing data that may or may not hold valuable insights for the business. Providers of enterprise application software such as Qlik Technologies, along with established players such as Oracle Corporation, IBM Corporation and others are among the main beneficiaries. Health monitoring is gaining traction among the population in North America. Devices that can monitor various bodily data from heart health to sleep patterns and suggest lifestyle adjustments is gaining penetration among the population of North America. In October 2015 for instance, IBM Corporation redesigned its flagship BI solution with built-in accelerated modelling and reporting. Global BI solution vendors are investing in structured R&D initiatives to utilise wearable technology in business. The big game plan is to take big data to a whole new level.
About ResearchMoz
ResearchMoz is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price.
Contact Us:
ResearchMoz
Mr. Nachiket Ghumare,
Tel: +1-518-621-2074
Toll Free: 866-997-4948 (US-CANADA)
Email: sales@researchmoz.us
Follow us on LinkedIn @ bit.ly/1TBmnVG
Follow us on Blogger @ https://marketnewstoday24.blogspot.com/
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