Cognos, the world`s largest and most successful business intelligence company, today announced it has become the business intelligence vendor of choice for some of the world`s leading B2B trading exchanges and eMarketplaces. Delivering the industry`s most complete, end-to-end solution for business intelligence, Cognos enables `e-market makers` to rapidly gain insight on the performance of their business, closely manage relationships with suppliers, and acquire and retain customers.
FreeMarkets, Inc., the leading B2B eMarketplace, has selected Cognos. With Cognos enterprise business intelligence, `e-market makers` like FreeMarkets are able to transform their operational, e-commerce, data warehouse and online information into a single unified view of their business - resulting in a powerful competitive advantage.
According to Gartner Group, B2B e-commerce growth is being rapidly driven by `e-market makers,` organizations that create Internet-based e-marketplaces focused on verticals or particular market affinity. These e-market makers are projected to facilitate $2.71 trillion in e-commerce sales transactions in 2004, representing 37 per cent of the overall B2B market and 2.6 per cent of forecasted worldwide sales transactions.
FreeMarkets, the leading B2B eMarketplace, has executed over 5,000 online auctions for more than $7.6 billion worth of online commerce to date, and created estimated savings of nearly $1.5 billion for its customers. The FreeMarkets B2B eMarketplace enables buying organizations to source products from more than 130 product and services categories, by combining its industry-leading technology platform with unparalleled information, and world-class services to deliver savings and enhanced efficiency to customers.
FreeMarkets selected Cognos enterprise business intelligence to provide up-to-the-minute analysis of strategic information used to measure resource utilization within business groups as well as to perform sophisticated analysis on results in its global eMarketplace. Using Cognos Web-based business intelligence, FreeMarkets is able to analyze an enormous volume of online market and operational data via secure Intranet, driving rapid business insights.
"Our business moves incredibly fast. Cognos provides us with a solution that is easy to use and allows people to analyze data flexibly. We`ve got an incredible amount of information to sort through to understand the efficiency of our marketplace in vertical supply categories and horizontal buying industries, among other dimensions," said Bryan Scheck, program manager, business intelligence at FreeMarkets. "Cognos allows us to make sound strategic decisions. That`s powerful."
Cognos Pinnacle partner, John Daniel Associates headquartered in Pittsburgh, PA, implemented the Cognos solution deployed at FreeMarkets.
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Cognos is the world`s largest and most successful business intelligence company. Founded in 1969, Cognos does business with 15,000 customers in more than 60 countries around the world. Cognos business intelligence solutions and services are also available from more than 2,900 worldwide partners and resellers. For more information, visit the Cognos Web site at http://www.cognos.com.