Growing, shifting and defining itself : BI Industry
The Indian business information Industry is taking shape and defining itself with clear ideas and compliance to International standards. We have had a number of companies come to provide business database of top Indian companies or the entire India Inc. Among those, few are those who are actually putting the nascent Industry on acceleration by continually innovating and improving themselves in their strategy, awareness or delivery module. The industry is still in the phase where the “partner of choice” is yet to be any firms’ privilege. These business information companies are continually improving themselves to foster long term relationships. The BI Industry is also rapidly taking shape in the international sphere with new players challenging with their newer ideas. Given the competition in not just the business sector but in every scenario we know that that this fast defining industry is also assessed to be one of the fastest growing areas in IT services Industry. According to Gartner's report, "the market for BI platforms will remain one of the fastest growing software markets despite sluggish economic growth in most regions. Organizations continue to turn to BI as a vital tool for smarter, more agile and efficient business." With the number of players in the market rapidly increasing and trying to define and shape for the sales representative Accelerated prospecting, improved call preparation and drive cross-selling by drawing on executive contacts and company information they provide. Given that quality and accurate information is difficult to find in this era of disproportionate information. The business information paid usage is increasing from all industry verticals because of the ease with which it allows the organizations to get all that the need to get ahead of the market. Though most IT users go for core IT BI companies, the non-IT buyers are gravitating to easy-to-use data discovery tools. Where much of the content industry revenues are advertising-driven, the business information segment remains largely driven by paid content, either via subscription or transaction (pay-per-view). The business information industry is presently estimated to be a more than $358 billion market, according to industry analysts Outsell, Inc. Most BI companies provide list of top Indian companies, SMEs, Bank, consultant Companies etc while others have added advantages of executive biographies, back searches, smart widgets or even sales and marketing campaign management. Some on the other hand provide facilities to match and append client database, cleanse and enhance existing data or enrich it with accurate and actionable information. And others have variant business modules in terms of delivery (one-time/ subscription) and customer base (mass/ niche). These BI companies also provide specific information of top executives like CEOs, CTOs, CFOs, MDs, CIOs, HR Head, Admin head, marketing head, sales head, finance head across NCR, Bangalore, Mumbai, Chennai, New Delhi, Pune, Kolkata and Hyderabad with very few covering companies in tier 2 companies in India. Bearing in mind that the industry has its own issues to deal with like privacy, legal conformations, protectionism, security among many others. With all industries becoming customer centric most of those in the BI sector are. But which actually manages to capture the larger market share is different matter all together.
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