February 15, 2011–Businesses are finding that collaborative data management (CDM) is needed to meet the informational challenges currently faced by corporations. Yellowfin, a Global Intelligence seller of software, is emphasizing this demand by releasing a white paper on the subject. In the article, “Yellowfin releases whitepaper on Social Business Intelligence,” introduced on ITWire, recent research reveals that the younger workforce is impacting how future business decisions will be made and how data will be shared and delivered.
Bill Gates briefly commented on the topic, saying, “[S]ocial networking-type applications will become as ubiquitous in the workplace as Microsoft Office tools and will likely replace email as the dominant form of corporate communications.”Additionally, one CIO magazine poll determined that “. . . collaborative and social technologies will be crucial in addressing and facilitating this swell in information exchange, by boosting workforce productivity.”
IDC, the market intelligence firm, too, believes that the CDM market will burgeon swiftly and predicts revenues of almost $2 billion in the next three years. SmartDataCollective obviously agrees with this estimation as it forecasts that worldwide sales of CDM software will reach almost $770 millionthis year. BI applications are definitely changing.