Business Intelligence & Analytics enjoy sales up by 13.5%

Business Intelligence, analytics and performance management applications seem to have enjoyed a good amount of revenue through sales. Business Intelligence as quoted in Wikipedia “refers to computer-based techniques used in identifying, extracting, and analyzing business data, such as sales revenue by products and/ or departments, or by associated costs and incomes. BI technologies provide historical, current and predictive views of business operations. Common functions of business intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, and text mining & predictive analytics.”

In essence, every organization requires BI to ensure that there is up-to-date record management that will help them in taking better business decisions; hence it is also called the Decision Support System (DSS). According to reports from Gartner the spending by several organizations on BI, analytics and performance management applications has risen 13.4% last year with revenue of 10.5 billion dollars. The economic downturn that occurred a couple of years ago left a huge impact on every company’s costing, due to which they looked at reducing the costs incurred and at the same time wanted to improve productivity. Software solutions such as BI and Analytics helped firms find efficiencies and gain competitive advantage. This is exactly why BI sales never dropped, in fact grew even though the sales of enterprise software solutions dropped by 2.5% during 2009. Strong customer demand and impeccable sales efforts of BI vendors helped influence the clients.

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Google updates Analytics

Very recently, Google announced several updates to Google Analytics including the ability to graph multiple data points at once, 6 additional languages and most importantly the ga.js tracking. Google Analytics was using the urchin.js tag earlier (it will still continue to work sans the new features).

The new update will be immediately available to all current Google Analytics users. The newly introduced 6 language options are — Thai, Filipino, Indonesian, Czech, Hungarian, and Portuguese (Portugal).

New Google Analytics

Google is rolling out the new ga.js page and is the recommended usage for your Google Analytics code. Nonetheless, the old urchin.js will continue to work sans the new features. The new migration will allow you to take advantage of the most up-do-date tracking functionality. This also enables tracking of ecommerce transactions in a more readable way.

So, what are the changes, benefits of the new codes?

The Google Analytics tracking code snippet and associated function calls have changed in several important ways;

  • Faster, smaller source file
  • Easier to use and understand
  • Automatic detection of HTTPS
  • Increased namespace safety

The new tracking code gives the following benefits and capabilities;

  • Easily customize the tracking code for your site’s needs.
  • Conveniently set up e-commerce and cross-domain tracking.
  • Quickly enjoy new features and reports as they roll out.

Google promises a wide range of exciting new features coming down the pipeline — more granular and accurate reporting for Rich Internet Applications and additional goal types.

Note: The new ga.js will not work alongside the old tracking code – urchin.js when placed together on the same page.