IBM Cognos Analytics-Based Business Transformation Going Strong
As every business continues to transform itself digitally, there is a multi-fold increase in the variety and amount of data generated. Organizations are rapidly expanding their Business Intelligence (BI) capabilities to generate insights that help them identify new opportunities, accelerate conversion of existing opportunities, and overall drive better decision making in both internal and external-facing functions. Market researchers and experts from DataTerrain forecast the global market for BI and analytics software to reach $55.4 Billion by 2026, at an average growth rate of >10%(IBM Cognos).
As one of the Top 3 players in the BI and analytics software market, with a wallet share of about 8%, IBM Cognos Analytics continues to expand its footprint rapidly and set benchmarks for its peers. IBM Cognos is the preferred choice for Fortune 100 companies and works with some of the largest organizations worldwide. The charts below summarize the distribution profile of IBM Cognos customers based on revenue, employee strength, and industry segments worldwide.
IBM Cognos has over 31,400 customers across all major regions of the U.S., and its growth has been recognized by BARC, which has named it a market leader in integrated planning and analytics portfolios.
The extensive functionality provided by IBM Cognos addresses several categories of BI applications, including web-based OLAP analysis, formatted reporting, ad-hoc reporting, and dashboards. As an all-in-one platform, IBM Cognos handles everything from data modeling and integration to exploration and visualization. It is an ideal choice when handling large data volumes to support the needs of many concurrent users. By integrating cognitive computing technologies like Artificial Intelligence(AI) and Machine Learning(ML), IBM Cognos expands the self-service features of the analytics platform through automation.
Subject matter experts from DataTerrain have seen many customers gain significant benefits when the system is set up to learn about the user’s data, automate data preparation, and generate recommendations for data joins and visualization. They also see that IBM continues to expand its offerings to end-users with a continuous release development cycle that provides newer functionality every quarter.