Data Intelligence Platforms focus on analyzing data and information from various sources so that an enterprise can improve the decision-making processes and make informed decisions to boost profitability.
Benefits of Data Intelligence Platforms
Data Intelligence Platforms have emerged as one of the biggest requirements for businesses to maintain a competitive edge in the industry. There are many benefits of these platforms that make them entirely worth the popularity they have gained.
- Data intelligence uses artificial intelligence and makes use of intelligent machines to evaluate large chunks of data. Therefore, it reduces the hard work of any employee or human to evaluate that amount of data independently. In this manner, these platforms serve as a great asset in reducing unnecessary costs or time spent by the employee. They can feed in data, a process that, and create valuable outputs themselves using its technology.
- It can reduce big data sets into small pieces of more usable data, which becomes way more convenient and increases the productivity of the enterprise. The businesses can hence easily construct meaningful decisions from it, thereby speeding up their decision-making policies.
- Using the data, they can not only retain their existing customers but also increase their customers. This can also prove to be a great competitive advantage over their other competing companies, helping them in profiting.
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Top Providers of Data Intelligence Platforms
Many firms have been providing data intelligence platform solutions. Each of these platforms has its advantages and disadvantages. In the end, the quest is about which platform meets all of your needs. A few of the data intelligence platforms include:
- SAP: SAP is leading the markets with its HANA product which is widely used to read and analyze enterprises’ data. This product can help various businesses, including the likes of sales, marketing, manufacturing, commerce, human resources, finance, asset management, supply chain, sustainability, engineering, and research and development, among others. Another benefit of using this solution is that using the SAP analytics cloud; you can integrate a variety of SAP’s business applications and get a unified platform to get all its business solutions.
- ScienceSoft: Based in Texas, this company provides solutions to many middle and enterprise customers through various industries. It has also partnered with companies like IBM, Oracle, Salesforce, Magneto, and other leading companies. Therefore, the company ensures that all its customers get original and reliable solutions for their data analysis needs.
- Oracle: As an integrated cloud application and platform service, the company focuses on using natural language processing and augmenting analytics to deliver customer experiences that everyone strives for. With its integrated and open solutions, you can get reports, interactive analysis, and other such solutions at the lowest cost in the market. The performance of the firm is also commendable.
- Informatica: As a leading provider of data management solutions, Informatica provides a hybrid environment through which you can speed your data-driven digital transformation. It provides opportunities for its clients to create new growth opportunities for themselves and supports creating new inventions through its solutions. The company’s basic focus is on the data it provides, which ensures that its client can succeed with what he wants.
- Amazon: AWS is an Amazon service offering more than 50 services to store, process, and visualize any client’s data. It also delivers Amazon Athena can support interactive analytics, Amazon Redshift for data warehousing, Amazon Kinesis for real-time analytics, Amazon EMR for big data processing, and Amazon QuickSight for dashboards and visualizations of data. With that, the firm focuses on being the one-stop solution for all data needs.
Growing Use of Data Intelligence Platforms
Data intelligence platforms have seen a surge in adoption and growth.
Experts estimate that this sector will grow from its present size of USD 23.1 billion to about USD 33.3 billion by the year 2025. This accounts for a Compound Annual Growth Rate (CAGR) of about 7.6% during this period.
The various factors that are helping this growth include rising demand for analytics and an increase in data generation, making it difficult to store and analyze it manually. The rapid digitalization that all enterprises aim for bodes well for the future of data intelligence platforms, and we can expect to see many new innovations in the the near future.
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