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According to IDC's report "Worldwide Business Intelligence Forecast and Analysis, 2003-2007", worldwide revenue for the BI software tools market increased by 1.6 percent over 2001 with a forecasted 2002-2007 compound annual growth rate of 4.1 percent. SAS' growth rate remained positive in 2002, exceeding its performance in 2001 with a leading 9.3% global market share, largely as a result of the breadth of SAS' data warehousing, business intelligence and analytical software.
IDC forecasts that the outlook of the Asia Pacific (excluding Japan) region's BI solutions market is optimistic, and the market will increase at a 2003-2007 compound annual growth rate of 12%, to reach US$1 billion in 2007. The research reveals that Greater China, including Hong Kong, PRC and Taiwan, are the fastest growing market in the region, with an estimated combine spending value of US$134 million by the end of this year.
SAS' business in the Asia Pacific (excluding Japan) region grew in software terms by 25% in 2002. In Hong Kong alone, its business recorded a significant growth of 40%. "Forward-thinking businesses use data mining to reduce fraud, anticipate resource demand and strengthen customer relationship. SAS BI technology continues to be recognized as one of the best ways to help companies unleash the hidden potential of their data," said Dawn Kung, Managing Director at SAS Hong Kong.
"Our data mining solutions enable us to deliver predictive analytics to help companies get accurate and timely intelligence to make better, faster business decisions. As the global leading vendor of data mining software, we are confident that we can capitalize the growing demand of BI solutions in the region and extend our market share over the next few years," Kung added.
"While continuing to invest heavily in R&D, SAS continues to provide one of the broadest portfolios of BI tools, which the company sells along with its data warehousing tools and analytic applications," said Dan Vesset, research manager for IDC's Analytics and Data Warehousing practice. "SAS' long term leadership of the growing data mining software market positions the company well for the increasing importance of predictive analytics in BI."
IDC states that the BI software is composed of end-user query, reporting and analysis tools; data mining tools; and packaged data mart/warehouse tools. The data mining market, the fastest growing segment of the BI market per IDC, increased 5.1 percent to reach US$486 million worldwide in 2002.
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