Prospects for business intelligence development in the Latvian business environment
2018
Onzevs, O., Turiba Univ., Riga (Latvia) | Kolerte, G., Scandic Fusion, SIA, Riga (Latvia)
Business intelligence (BI) is a specific service niche that is developing very rapidly. The aim of the study was to identify the development opportunities of Latvian BI service companies in Latvia market. It has been ascertained that medium and large companies globally need BI systems and sometimes even small companies need it, but it depends on the particular business field, the amount of data analysed and other factors. In Latvia, there are only 1.07 % of such enterprises − in general, 1603 (0.93 %) medium-sized enterprises and only 238 (0.14 %) large enterprises. It should be taken into account that many companies have already introduced BI or similar analytical solutions, so forecasts about the acquisition of the local market and the existence of free niches can be said to have been already exhausted. Also, the saturation of the local market with similar business analytics services offered by ICT service providers should be taken into account. Therefore, in order to keep up the pace of growth and prevent stagnation of business processes, BI service providers must devise relevant strategies for businesses to enter into external markets.
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