What is Social Business Intelligence (BI)?
Social business intelligence is a set of process and technologies design to analyse data from social sources including, Facebook, Twitter, LinkedIn and others, it often used with ordinary reporting and BI methods to help organizations to make better data-driven decisions. Traditional Business intelligence mainly focused on delivering intelligence from data warehouses, databases, rather than directly from other users. Social BI is bringing collaborative experience, a broader range of data from different sources into the BI environments. The use of a new social layer with BI technologies offering a tremendous amount of new data can help to improve business hence the demand for it is increased.
The market study is broken down by Type (Text analytics, Predictive analytics, Sentiment analytics and Others), by Application (SMEs, Large Enterprises and Government Organizations) and major geographies with country level break-up.
Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Social Business Intelligence (BI) market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM (United States), Oracle (United States), SAP (Germany), SAS Institute (United States), Adobe Systems (United States), Attensity (Germany), Beevolve (India), Clarabridge (United States), Crimson Hexagon (United States) and Google (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Evolve24 (United States), Lithium Technologies (United States), Qlik Sense (United States), Clear Analytics (United States), Domo (United States) and Dundas (Canada).
Segmentation Overview
AdvanceMarketAnalytics has segmented the market of Global Social Business Intelligence (BI) market by Type, Application and Region.
On the basis of geography, the market of Social Business Intelligence (BI) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Social Business Intelligence (BI) market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Trend
- Discovery Of Data through Visual Analytics and Their Provision of Mobile Support and Cloud Deployment
Market Drivers
- Growing Inclination of the User towards Social Networking Sites
- Increasing Adoption of Cloud and Data-Driven Decision-Making Techniques
Opportunities
- For Social Business Intelligence the Technology Advancement Such As Use of Artificial Intelligence, Collaborative BI, Embedded BI, and Cloud Analytics Is Offering the Growth Opportunities
Restraints
- Social BI Is Time-Consuming Costly and Very Complex Process
- Lack of Skilled and Technical Expertise
Challenges
- Privacy and Security Issues Arising While Using Cloud-Based Service
Key Target Audience
Social Business Intelligence (BI) Services, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.