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Business analytics market in Poland with good prospects

The value of the global business intelligence market is over 14 billion dollars and it is still developing very fast – also in Poland.

The analysis of great data sets and connections between them is becoming more and more important for companies – it allows to manage the risk in a better way, detect frauds and manage complicated processes. The technological companies are working on even newer solutions which enable more detailed analysis and prognosticate a revolution on the market.

 

Our specialty – that is analyzing connections between different data sets in companies has been very limited so far. However, there are some specific problems in big institutions, the solving of which requires a new approach. Foregoing methods have not been sufficient enough – it is like trying to put a round brick into a square whole – explains Paweł Wieczyński, Chairman of the Board in the PiLab company, a technological partnership which functions on this particular market.

 

The analyses of connected data sets are possible thanks to obtainment of new information. Part of these processes may be performed with the use of traditional tools – it is quite complicated, time-consuming and does not give desired effects. Of course, a traditional approach may be applied but try to imagine that we have to realize detection of defalcation or manage of partnership’s risk by looking at statistical reports – that is on visualizations of data which do not have advanced connections between various sources. It is very hampered now – says Paweł Wieczyński. – At present, we are purely and simply concentrated on the most difficult cases which are the most important for our clients.

 

The new methods may be used to detect frauds and defalcation, estimation of risk or management of complicated processes and investments. The most frequently, such activities are taken up by big enterprises. This part of the intelligence business market in which we are engaged – that is a segment which concerns analysis of connections – is still undeveloped in Europe. Actually, this segment is currently being established and soon there will be a revolution – says chairman of PiLab.

 

It has been already noticed in the USA. For instance, the Palantir Technologies company which delivers such solutions to the American government and stock quoted companies has developed its business to the value which exceeds 15 billion dollars within 12 years and obtained 1 billion dollars from investors. According to Wieczyński, the American market is still far from saturation.

 


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