The business intelligence software market is expected to grow 34% annually through 2004 and Cognos is aiming to be the leading software provider.

Ron Zambonini, Cognos President and CEO, and Terry Hall, Cognos COO, recently discussed Cognos and the business intelligence market with Investor's Business Daily (IBD). Following are excerpts from the IBD article:

"Cognos Inc. sees big opportunities ahead as its products shake their image as luxury goods and emerge as must-have business technology."

"Cognos leads in sales of business intelligence software, which plumbs corporate databases for data about customers and operations. More companies are turning to such products as they adopt electronic business and extranets—secure company Web sites for business partners or customers."

""The opportunity is enormous," said Terry Hall. "Organizations are now looking at these tools as strategic.""

"Cognos’ sales comprise about 33% of the business intelligence software market. Cognos already has the leading position, but it’s bent on dominating the market."

"Sales of business intelligence tools are expected to grow about 34% a year over the next five years, says market researcher International Data Corp. It sees sales rising from $3 billion in 1999 to $12.7 billion in 2004."

"One factor pushing sales is the increase in the amount of data companies are storing, especially data related to e-business, Zambonini says. Companies want to mine those data for insights and trends that can improve operations and performance."

"Extranets also are boosting business intelligence sales, Cognos’ Hall says. Companies are finding that providing these tools to their affiliates over the Internet is good for business. Salespeople and insurance agents can track their performance, see how they stack up with others and make adjustments."