Business Intelligence Software As Well As Idc As Well As Projection – At its core, market intelligence helps organizations better understand their customers, competitors and markets, and enables them to take advantage of changing conditions. As the interaction between these elements becomes more complex, organizations invest more in tailoring the innovation process to market demand. By leveraging market intelligence, companies can better understand market size and growth opportunities, accelerate innovation, and identify key adjacent areas.
Key assets for the best market intelligence organizations are total addressable market forecasting (TAM) and market share data. These tools provide a clear picture of the current state of the markets in which a company participates, including who its major competitors are and their market shares, the expected growth rates of those markets, as well as key adjacent markets that a company considers complementary, competitive, or complementary . otherwise ripe for expansion. This forecast and sharing data is typically adjusted to:
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The goal of all this is to create a single version of market truth that all internal parties, including marketing, sales operations, finance, strategy and senior management, can use to inform critical business decisions about investments, product development, focus and sales force allocation . , partnerships, mergers and acquisitions and more.
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Building, regularly delivering and continuously developing such a data set is challenging work. However, the reward is significant:
Without regularly developed, consistent market data tailored to your business, planning decisions may take longer or be based on ad hoc data or opinion. Market intelligence data provides quantitative analytical support to support business and investment management, product and market feasibility, and competitive strategy.
IDC has found that the best organizations build this one version of market truth, build consensus that it should be used by all relevant teams, disseminate it widely so that it is used well, and rigorously and regularly review and review the taxonomies, definitions, and data. to update. it evolves with the company. Doing this will help C-Suite executives identify markets where they can gain and maintain a competitive advantage. (i.e., how they can do better in the markets they are currently in and how they can identify new market areas they should enter). Sales Operations can use market intelligence tools to energize their sales force and resolve conflicting views between, typically, anecdotal sales feedback and central estimates. Marketers benefit from identifying trends early, validating the market for their products and services, and crafting messages that are timely and relevant.
You need to be sure that the tool you use maps the technology world and creates comprehensive, insightful data and adapts it to support your critical decision-making. To do that, you’ll want to understand the approach used to develop these custom data sets. What are the data sources? How is the data validated and rationalized?
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IDC maps the world of technology through comprehensive, well-documented taxonomies across technology domains (hardware, software, services), as well as verticals, business sizes and use cases. Through this rich set of regularly updated data and taxonomies, methodologies and tools, as well as a global network of analysts, we deliver these tailored market views to the world’s largest, most advanced and innovative technology-driven companies, helping them better manage their business .
The right market intelligence can help you overcome product and market complexity, predict revenue more accurately, and outperform competitive forces by providing timely insights that impact your strategic planning and your organization’s day-to-day operations.
Boyd oversees IDC’s global Custom Analytics practice, delivering custom research solutions that help clients better analyze, target and sell in their markets. He works closely with IDC’s analyst teams to translate IDC’s deep market expertise into actionable intelligence for clients. Key deliverables include global, regional and local market models, portfolio share analysis and ROI/TCO analysis. By Marta Khort • UPD: November 16, 2022 • 8 min read Business intelligence outsourcing: how to make it work?
Business Intelligence includes processes, tools and technologies to transform raw data from various data sources into valid and actionable insights to make optimized strategic and operational business decisions. In broader terms, Business Intelligence technologies include data integration, data quality, data warehousing, master data management, content analytics and data visualization. The key competitive advantage that BI development offers companies is leveraging the insights to outsmart the competition and develop a proactive approach to meeting customer demands.
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While a large number of tools exist, including open source tools, the market is facing an acute shortage of Big Data and BI development experts. Outsourcing Business Intelligence to Europe is therefore a wise decision as it is a region with many available specialists with relevant education, skills, experience and extensive expertise in Business Intelligence technologies. According to the State of European Tech, the region has a combined talent pool of more than 1 million tech experts.
According to Linkedin, Poland has a talent pool of around 3,500 BI developers. Leading communities organize local and international BI and Big Data events such as Big Data Technology Summit, Big Data Tech Warsaw, Devoxx Poland, Big Data Technology Summit, etc. In addition, various workshops take place in Poland, including IDC Business Intelligence Executive Workshop.
In addition, global consulting firms such as Atos Consulting and the international market intelligence company IDC have their offices in Poland. Some other top BI outsourcing companies in Poland worth mentioning are QBurst, Ciklum, Software Mind, and IBA Group.
The country has a strong heritage in technical education and many new STEM-based education programs. For example, the Ukrainian Catholic University offers a master’s program in Data Science. The curriculum includes applied statistics, probabilistic analysis, data science, data visualization, data engineering for data science, machine learning, etc.
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Many global companies have already benefited from outsourcing Business Intelligence to Ukraine. The country has around 300,000 IT professionals who provide top-notch software development services including BI development. 74 IT companies in Ukraine are engaged in data consulting and Business Intelligence. Moreover, according to Linkedin, there are approximately 2,000 BI developers working in the IT sector in Ukraine.
Romania is also known for its vast talent pool of software engineers engaged in outsourcing Business Intelligence services. According to Linkedin, approximately 3,000 BI application development experts are currently active in the IT market. Local Business Intelligence expertise is in high demand among global top players; Well-known organizations such as Microsoft, ING, ISDC and Oracle delegate BI projects to developers from Romania.
Romanian BI application development specialists network and share knowledge at various meetups. For example, Bucharest BI & SQL User Group regularly organizes meetings specialized in Big Data, BI, SQL Server, OLAP, SSIS and SSRS. Organizations such as the Romanian Foundation for Business Intelligence promote research in this area and the development of the local BI community. Romania is home to around 25 vendors providing high-quality BI development services. The best BI outsourcing companies in Romania are Coherent Solutions, Zenitech, Qubiz, Affirma Consulting and many others.
Hungarian IT specialists are also quick to adopt new trends, and BI application development is no exception. According to Linkedin, there are almost 1,600 BI developers active in the software development sector in the country.
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The Hungarian BI community organizes international Business Intelligence and analytics events such as Budapest BI Forum and BI MettOFF. Hungarian BI outsourcing specialists also meet and network at events such as Budapest BI Meetup, Budapest Big Data Meetup (including BI Edition), Budapest Data Science Meetup, etc.
European companies have sufficient technical resources to efficiently staff your project. Poland, Romania and Ukraine in particular have a huge talent pool of BI outsourcing experts with a solid IT background and long-term experience in providing BI services. Therefore, many global companies have benefited from outsourcing Business Intelligence development and Business Intelligence consulting to Europe.
Business Intelligence developers provide business intelligence consulting and implement comprehensive data warehousing and reporting solutions. We also integrate and customize the existing BI software to provide our customers with the most suitable solutions for their business problems. Our BI experts have extensive expertise in data extraction, data aggregation, data grouping, data modeling and data visualization and use the latest BI tools to produce compelling reports and reveal actionable insights.
The list of common requests for Business Intelligence outsourcing companies covers a wide range of technical issues, including data inconsistency, storing information in multiple data sources, and the need to generate data sets to manually create reports. Let’s take a closer look at how specialists solved this latest challenge during their partnership with the top US provider of managed cloud services. The company’s main focus is on providing personalized cloud hosting solutions.
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The client wanted to optimize the process of generating monthly reports and reduce additional costs for IT resources. The vendor’s data was stored locally, resulting in limited scalability and significant costs. Additionally, the company used a third-party tool to create equipment performance reports for their customers. Together with the lack of a consolidated approach to data management, this created inefficiencies in data accessibility, management, storage and organization. So the customer’s main requests were to implement a unified data analysis system and automate the reporting process.
The experts worked with the client’s engineers to migrate the on-premises infrastructure to a custom-built warehouse hosted on Google Cloud Platform. Additionally, our data engineers have detected anomalous locations in
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