The global business intelligence market in the healthcare sector to grow at a CAGR of 13.50% during the period 2018-2022.
Global Business Intelligence Market in the Healthcare Sector 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Business intelligence (BI) involves technologies used by companies for conducting data analysis of business information. BI software helps BI by providing old, current, and predictive views of all business operations.
According to the report, one of the major drivers for this market is Growing adoption of data analytics. Healthcare sectors are using data analytics to maximize their efficiency, increase revenue, and save costs. Data analytics help eliminate the major work involved in understanding patient requirements and in the health data tracking process. Thus, it helps organizations to analyze data patterns to serve patients well and provide them with personalized healthcare.
The latest trend gaining momentum in the market is growing scope of mobile BI. Smart devices such as smartphones and tablets are increasingly adopted by consumers. In addition, organizations are providing work-from-home options to enhance employee mobility. This has resulted in an increase in the number of employees working from remote locations.
Further, the report states that one of the major factors hindering the growth of this market is Presence of open-source BI vendors. The market has many open-source vendors that provide a range of BI tools and applications. Vendors like Pentaho, BIRT, SpagoBI, KNIME, and JasperReport are providing BI solutions for free. A combination of multiple products from various open-source vendors can provide almost all the functionalities provided by on-premises or on-demand BI software.