In recent times, the professionals in higher education are gradually adapting to new terms and technologies such as dashboards, data analytics, data visualisation, data warehousing and many such concepts which are the key components of Business Intelligence software that can help the universities or institutes in strategic decision making. The acceptance of BI into higher education has been significantly slower when compared to other verticals because of its complex and unique nature.
Indian business intelligence software revenue is forecast to reach $139.5 million in 2014, a 16 percent increase over 2013 revenue of $121.2 million, according to Gartner, Inc. This forecast includes revenue for BI platforms, packaged analytic applications and corporate performance management software. The market is expected to grow further to $171.2 million by 2016. Also, Gartner has identified- mass acceptance of social networking, support for extreme data performance and social content analytics as some of the factors that continue to drive BI’s growth in India.
Integrating BI is vital for Educational Institutes
Any form of business accompanies various uncertainties and risks. To adapt to such situations, organisations require precise, significant and useful information about the business environment they work. Planning and responding to any situation needs accurate information about the working environment. But educational institutions, at several times, do not have the precise information to make appropriate and timely decisions. Whether the business is an educational institute, primary school, university or college, it can be successful only with appropriate insight and data. So, it is very important that educational institutions give more emphasis on understanding their business operations and target market by integrating BI to help them make data-driven business decisions that can enable them achieve better results and avoid any bottlenecks in the process.
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