Business Intelligence Services and Solutions in the Asian-Pacific Region

Business Intelligence Services and Solutions in the Asian-Pacific Region

During the economic crisis in 2009 the importance of business intelligence (BI) services and solutions was discovered. It became clear that more accurate and reliable information was needed to make urgent decisions. Since decision makers were convinced that the global economy would recover they demanded more visibility for growing operations and companies.

Business intelligence services and solutions concentrate on grouping matching information according to a certain criteria. This information is used for a variety of purposes which are supposed to result in knowledge. The service is computer-based and is used to analyze data like order procurement from the marketing department; data on inventory level and sales profits from the sales department. Future predictions and be made, based on past and present data.

Therefore business intelligence services and solutions trigger applications, processes and technologies to analyze structured, internal data and business processes. Data is presented and analyzed with application software and stored in a data warehouse. Those software tools include data and process mining, digital dashboards, local information systems, business performance management, and decision engineering.

Throughout the Asia-Pacific region companies operated from offices within Japan, The Philippines, Macau, Thailand, China, and Hong Kong. Business operations have also extended to the United States and Europe. The business intelligence services and solutions market in the Asia-Pacific area has grown to around 20.5 percent in 2010 according to the International Data Corporation (IDC).

IDC, a global research firm, provides advisory services and market intelligence for consumer technology, IT and telecom markets. It exposed that Korea, Australia and China possess 64.3 percent of the Asia-Pacific region and that Vietnam and India will increase their growth quickly.

Especially the banking sector will benefit from business intelligence services and solutions because fraud and risk management are improving and decisions are made faster and based solely on facts. Customer related issues can be solved more efficiently.

Large companies such as Microsoft and Oracle have controlled the BI software market for a long time. Now BI vendors are competing for influence in the Asian-Pacific market by enhancing their skill sets, incorporating functionalities in transactional applications and offering integrated platforms.

If business intelligence services and solutions ever make it in the Asia-Pacific market depends regulatory reporting, requirement to predict capabilities to improve a company's performance through detecting new opportunities or via optimizing costs. Data volumes need to be expanded and compliance has to be implemented. The driving force behind growth in this region, are the immense benefits that go hand in hand with business intelligence services and solutions. Visualization technology, user friendly interfaces, and performance management methodology along with better software products helped acquiring new customers.

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