Retail Banks' Spend On Business Intelligence Technology Expected To Reach USD$9bn by 2012

摘要

A new report by independent market analyst Datamonitor, "Business Intelligence in Retail Banking", predicts spend by retail banking institutions on business intelligence (BI) ITNorth America, Europe, the Middle East and Asia-Pacific, will reach USD$9 billion by 2012, up from USD$5.6 billion in 2006. According to the report, the combination of compliance requirements, a competitive business environment, the sub-prime credit crunch and the need for stronger management will drive retail banks' investment in BI software. Given the sector's growth of IT budgets devoted to BI, many vendors from diverse backgrounds, such as reporting, analytics, data management and operations, have rushed to claim their stake by adapting their definition of BI to fit their offering.