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Leveraging data that has previously been out of reach for analytics due to volume, velocity or variety will drive investment in business intelligence (BI) tools in the Australian market over the next five years, according to one analyst firm.

In its latest report - Business Intelligence in Australia: Emerging Opportunities in Text based Analytics - just released, IDC analyses the opportunities in text based analytics including industry-specific use cases and how end users will look to “broaden existing investments in Business Intelligence tools.”

IDC software analyst, Vanessa Thompson, says that over the next five years, to 2015, the compound annual growth rate (CAGR) for end-user query and reporting services (EUQR) will be 8.1 percent.

"The sheer number of records available to be analysed, search indexing, email messages and company records, can be stored and managed but it is the complexity and granularity of those data sources is challenging current reporting and analysis environments."

According to Thompson, the evaluation of activities, business processes, and industries that give rise to Big Data use cases will be married with the current investment in BI and analytics technologies of businesses in Australia, providing insight into immediate opportunities for Big Data analysis for supply-side vendors.

"Applications that access, manage, and analyse all types of information are being adopted quickly in Australia, with end user requirements driving tool selection," says Thompson.  "Current business pressures mean that use of fit for purpose Business Intelligence tools will remain the status quo in the near term but the pressure to remain competitive will force future investment."

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Peter Dinham

 

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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