Analytical Software Vendors are often compared or chosen based on their Features and Functions and Costs. Since the Buying Decision is often done at a Departmental/Line of Business Level. However a Factor that is becoming more and more important is the Integration of different Components, because being able to relate, link and correlating data is what often provides a real added Value.
Included into a Broader Picture and provide packed (pre-Integrated) Analytics to Operational Applications for CRM, HR, ERP and Business Planning Applications. Thus, Purpose built for providing Insight to Commercial Standard Applications using Best Practices and providing an extensible Platform.
- Full Stack Vendors: Offer a complete Suite of core Business Applications and Analytical Software
- Open Source Vendors: Provide the Source Code of their Analytical Software and may or may not charge for the Commercial use of the Software.
- Single Product Vendors: Companies that have a long Tradition of Analytical Products and a large Install Base for their Products
- Venture Capital backed Vendors: Entering a saturated market using an innovative and modern UI.
These Categories are obviously not mutual exclusive, especially in terms of Single Product Companies and Open Source Companies, but these categories can help better understanding the Market.
After Categories the market and the raising Importance of new concepts like Big Data, CX and especially the Cloud one should also evaluate the Value of an Integrated Suite which doesn’t only try to solve one Problem, but many Problems. The Value of an Integrated Suite is further discussed in this Interesting Video which features an Interview with Andrew Sutherland who highlights the Importance to not repeat the same mistakes of the past where stove pipes Systems have been introduced to LoB’s, but Companies need to invest large amounts to connect the different Systems to each other and the benefits of a single (pre-Integrated) Platform.
Link to Discussion: