Self-Service BI Market Overview
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.
Self-service BI benefits the business users from non-analytical background to generate insights and data analysis. Self-service BI market is experiencing an increasing demand for the business fields attributed to its ability to transform business organizations into an efficient data-driven organization. Self-service BI market is projected to grow over the forecast period owing to its ability to decentralize the business analytical process.
Self-Service BI Market: Market Dynamics
Self-service BI market serves as a boon to the non-technical business users for analyzing data insights by funneling down the business data. The self-service BI market is briskly growing owing the shift from conventional BI tools for business data analysis to modern BI tools along with the surging market of structured and unstructured data.
The primary drivers for global self-service BI market are the growing demand for generating in-depth competitive data analysis and expanding the business data volume. Other factors that boost up the growth of global self-service BI market include persistent changing business needs, the need for being an improved analytic-driven organization and IT’s inability to meet the business requests within the stipulated time.
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:
- Logi Analytics
- Crimson Hexagon
- Driven BI
Self-service BI market can be segmented on the basis of its functional areas which includes:
- Human Resources
Self-service BI market can be segmented on the basis of its application which includes:
- Banking , Financial Services & Insurance
- Transportation & Logistics
- Telecommunication & IT
- Media & Entertainment