Dive Brief:
- SAP said it plans to announce a new business-analysis product soon, the Wall Street Journal reports.
- Known internally as Project Orca, SAP says the new product can provide for the technology business's need to harness data for decisions about their operations.
- Analysts say SAP currently has the largest share of the $143 billion market for business data analysis.
Dive Insight:
Amazon’s Web Services unit is also preparing to enter the data analytics market. Together the two companies are ramping up competition in the area.
Steve Lucas, SAP’s president of platform solutions, said SAP’s new product can spot trends gleaned from every digital nook. “That to me is more than visualization of data," said Lucas.
Analysts say there may be plenty of room for both products. Boris Evelson, an analyst at Forrester Research Inc. said the data analytics market is still very immature, and only 40% of the available data is typically tapped for decision making. And despite tough competition in the market, many enterprises are disappointed by the current offerings, Evelson said.
