The annual International Data Corporation’s (IDC) Asia Pacific top 10 predictions report has listed the continued development and uptake of social and collaborative applications as the trend to have the biggest commercial impact on the Asia Pacific ICT market for 2011.
Strong growth in collaborative decision-making software
IDC predicts that 2011 will be the year where the trend of embedding social media style features into business analytics will make its mark across most of the key enterprise applications in use today.
The IDC expects virtually all types of business applications to undergo a fundamental transformation in functional structure by fusing traditional business applications with social and collaborative software and analytics in 2011 and beyond.
In another research report – Determining the value of Social Business ROI: Myths, Facts, and Potentially High Returns – The IDC forecast the emerging collaborative decision-making (CDM) software market to generate revenues of nearly $2 billion by 2014, with a compound annual growth rate of 38.2 percent between 2009 and 2014.
Corporations benefit from combing traditional analytics with collaborative components
Research from McKinsey Global – How Companies Are Benefiting from Web 2.0 – indicates that organizations that have already adopted CDM software have experienced such benefits as decreased time to market for new products, improved employee satisfaction and reduced cost of operations through faster, better and more inclusive decision-making.
Recent Aberden Group research of 300 organizations – Transforming Information Overflow to Improve Business Performance – also demonstrates that organizations with collaborative technologies respond to business threats and complete key projects faster.
Additionally, Gartner research report, The Rise of Collaborative Decision Making, shows that aiding the ability of geographically dispersed decision-makers to collaborate in real-time and document discussion in a single uniform environment, minimizes the cost and lag in the decision-making process, leading to improved operational efficiencies.
Yellowfin: A collaborative decision-making solution
Yellowfin is currently the only Business Intelligence (BI) solution on the market that offers a complete CDM module straight ‘out-of-the-box’.
Yellowfin Connect – a YouTube style embeddable widget – enables reports to be shared across platforms, anywhere and anytime – wherever the content is needed for discussion and decision-making.
Yellowfin Collaboration – a discussion forum within Yellowfin itself – allows users to create and participate in real-time threaded conversations around reporting and analytics from inside or outside the company. Users can embed reports and other contextual information in threaded conversations, and add annotations, to further explain patterns and trends in the data.
Finally, Yellowfin supports the transition between discussion and decision with decision widgets for voting and polling on a particular course of action.
The collaborative components within Yellowfin are designed to help organizations spread fact-based decision-making throughout the enterprise. Yellowfin creates a business environment that empowers all relevant decision makers with the ability to use the insight generated through reporting and analytics accurately, maximizing its potential to underpin better, faster decisions and support operational objectives.
Yellowfin is making enterprise collaboration easy.