Owing to the need for modernizing business report analysis and modeling of data, a transition from complicated BI tools that only IT specialists could implement to self-service BI tools took place. Self-service BI market witnessed a prominent adoption across various business fields such as marketing, sales, operations, human resource and finance attributed to detailed competitive analysis and ease of application for non-technical staff.
Business users with non-analytical backgrounds can develop insights and conduct data analysis thanks to self-service BI. Due to its capacity to convert commercial organisations into effective data-driven organisations, the self-service BI market is seeing an increase in demand from the business domains. Due to its capacity to decentralise the business analytical process, the self-service BI market is anticipated to expand throughout the course of the forecast period.
Self-Service BI Market: Market Dynamics
By funnelling down the company data, the self-service BI market is a blessing for non-technical business users who wish to analyse data insights. Due to the switch from traditional BI tools for corporate data analysis to more current BI solutions as well as the booming market for structured and unstructured data, the self-service BI industry is expanding quickly.
The developing demand for producing detailed competitive data analyses and increasing the number of corporate data are the main drivers of the worldwide self-service BI market. Other reasons that contribute to the growth of the global self-service BI market include the desire for organisations to become better analytics-driven and IT’s inability to respond to business requests in a timely manner.
Self-service BI market witnesses an increasing demand owing to its attributes over traditional BI tools. Features such as user-friendly, interactive ability to access or extend both IT related data and non-traditional data give the self-service BI market a competitive edge thereby increasing its demand in the business enterprises.
Self –service BI market growth is attributed to the increasing demand for various business functions including marketing, sales, operations, human resource, and finance. Human resource accounts for a significant demand for the self-service BI market due to the need to understand the competencies, workforce data, compensation structure and others factors that contribute in maximizing the return on human capital investment.
Besides, human resource, financial services also contribute to the increasing demand for global self-service BI market owing to the growing demand for financial transactions.
However, deploying self-service BI tools demand an effective and detailed data governance, integrated monitoring and controlling user interactions which are the critical challenges that are expected to hinder the growth of self-service BI market. Another major restraint that is expected to deter the growth of self-service BI market is the challenge to deliver a single and unified insight of the enterprise data and having the correct data foundation.
Self-Service BI Market: Regional Segmentation
The regional coverage for self-service BI market includes North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA). North America accounts for a dominant share in the global self-service BI market attributed to early and increasing application of self-service BI tools and rapid technological advancement.
APEJ poses potential opportunities for self-service BI market to expand across industry verticals.
Self-Service BI Market: Key Players
Key players in the global self-service BI market include IBM Corporation, Microsoft Corporation, Zoho Corporation, Dataphine, Qlik Technologies, Tableau Software, SAP SE, Tibco Software, Looker and others.
Self-Service BI Market: Segments
Self-service BI market can be segmented on the basis of its type which includes:
- Tableau
- Qlik
- Splunk
- SAS
- Trillium
- Logi Analytics
- Crimson Hexagon
- Apteryx
- Tibco
- Driven BI
- Others
Self-service BI market can be segmented on the basis of its functional areas which includes:
- Marketing
- Human Resources
- Sales
- Finance
- Operations
Self-service BI market can be segmented on the basis of its application which includes:
- Banking , Financial Services & Insurance
- Government
- Transportation & Logistics
- Telecommunication & IT
- Media & Entertainment
- Healthcare
- Manufacturing
- Others
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