Providing software solutions since 1976
Providing software solutions since 1976
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BI can produce forecasts in minutes - May 29, 2003 THE BUSINESS Intelligence (BI) market, though nascent in India because of its blurred understanding, has been traditionally limited to database tools that do simple query and reporting. There is lack of clarity on the return on investment on BI despite the fact that BI deployments have been known to deliver returns anywhere between 50% to 200% within 3 to 6 months of deployment, says SAS International, Vice President - Asia Pacific, Phillip Beniac. He spoke to Sangeeta Kulkarni about the market potential and success rate of BI solutions in India. Excerpts: What is SAS' estimate of the Business Intelligence (BI) market potential in India and what sectors would rule the demand for BI products in future? As per the Frost & Sullivan Business Intelligence Report, 2001-2008, BI revenue in India touched US $ 10.5 million at the end of the fiscal year '02. The market is envisaged to grow at a compounded annual growth rate of 33.9% to touch US$30.4 million in '05. Exploding information databases industries such as banking. financial services, retail, pharmaceutical and telecom sectors are driving momentum of growth for BI solutions. This is further being fuelled by government ruling to implement Naresh Chandra guidelines aka Sarbanes Oxyley Act across verticals and RBI's stipulation to implement Basel 2 guidelines by 2005 for the banking sector. Can you elaborate on BI tools that allow companies to gauge demand ahead of competitors? High-performance forecasting solutions allow users to look at the time trends over the past and do extremely accurate forecasts. into the supply chain. Customer solutions perform market analysis to predict which customers will be good candidates for cross-sell or up-sell opportunities using predictive capabilities based on customer behaviour data. Bharti cellular in Delhi. for instance, uses a SAS solution for customer retention and has experienced a drop in subscriber churn from 3% to a little over 2%. How do BI tools function. How different are they from, let's say the science of artificial intelligence? Business Intelligence is all about using accumulated information to create new knowledge / intelligence in order to be able respond quickly to challenges in the business environment. In simple terms, BI includes turning raw data into knowledge that enables informed decision making, quite unlike AI (Artificial Intelligence) which is about creating computer programs that perform difficult intellectual tasks. From an AI program, general tools that have applications in a wide variety of every day problems are constructed, thereby creating intelligent machines. BI on the other hand provides data warehousing solutions to create and deliver consistent, accurate and usable information. It includes the use of analytics to provide new insights and knowledge about the enterprise based on past, current and forecasted/ modeled information. |
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