Even if BI spending is softening a bit for some companies, anecdotal information from our readers indicates that the overall market is firm.
The business intelligence market might finish a little softer than expected this year, but a significant majority of companies are spending about what they thought they would when 2004 began.
Last week we asked our readers where their organizations' BI spending stands so far relative to what was projected for the year. After a few weeks of reports from technology vendors cutting their revenue outlooks for the rest of 2004, one might have expected our poll to show users who are being more cautious than they had anticipated.
Not so. Our site poll found that spending at almost two-thirds of readers' organizations -- 65% -- is falling roughly in line with projections. Eight percent said they're spending more than they thought they would.
A significant number of readers, 27%, said they're below their forecasts for the year, which meshes neatly with what the vendors are saying. Most BI software makers hit their numbers in the second quarter, especially the ones that specialize in reporting. But many manufacturers, including some of the reporting and analytics companies, reduced their revenue projections for the year's third quarter.
Even if BI spending is softening a bit for some companies, our anecdotal poll indicates that the overall market is firm. It'll be interesting to see what the rest of the year holds.
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