Australia may have trailed the US and Europe in terms of BI adoption, but according to Jaspersoft CEO, Brian Gentile, the market is starting to catch up.
"BI is on its third major generation after being born in the late 80's, and US has certainly led the adoption and use of reporting and analysis tools," he said.
Portions of Western Europe have not been far behind, typically half a generation behind, and Gentile said Australia was relatively close to that second curve, even trailing slightly behind.
However, Gentile said that notion held true only until 2008, just prior to the Global Financial Crisis.
"What's happening now is economies that were not on the edge of adopting BI, basically everywhere except the US, are now advancing more rapidly," he said.
"The exception is China and some emerging Asian and South American countries that are still lagging."
With Australia and the most progressive parts of Western Europe Jaspersoft is seeing even faster growth, as these markets have "avoided some of the pitfalls of those who went first and made mistakes."
For example, the US is currently on the edge of the use of big data types.
"There are a number of companies that are not doing this technology right yet and are making mistakes, and wasting time and money doing so," Gentile said.
"Clever Australian companies are waiting and watching the mistakes being made so they can avoid them and spend their money more efficiently, properly attaching to and using big data sources."
Land of opportunity
When looking at the Australia market for Jaspersoft, Gentile said it is full of opportunities.
"The local economy and mindset for analysing and dealing with data is quite like the more progressive countries in Europe like the UK," he said.
"As I spend time in Australia and speak with the regional manager, I learn that there are a lot of advanced things going on and there is a lot of room for expansion for our sector of software."
Gentile said becoming "more capable" and "analysing information to make better business decisions" is a practical and important need.
Asia Pacific already accounts for 10 per cent of Jaspersoft's global revenue, and Gentile said it has been growing at the fastest rate.
"We have had 75 to 80 per cent growth per year for the last few years, and we expect that to continue," he said.
"Maybe in the next two years, we expect Asia Pacific to account for 15 per cent of our revenue."
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