COMPNAY REPORTS - ChangeWave Alliance > · Web viewSAP (SAP; down 1-pt), Oracle (ORCL; down...

ChangeWave Research: Corporate Software Purchasing Trends

Corporate Software Spending: 90 Day OutlookGrowth Rate Tightens for Corporate Software Spending Paul Carton and Jean Crumrine Overview: After an explosive surge last quarter, ChangeWave’s latest corporate software survey points to a tighter software spending environment for the next 90 days.

Nonetheless, overall software spending remains stronger than 6 months ago and healthier than for much of the past three years. And while the survey shows a tightening among all of the major software categories – including Data Storage, Virtualization, BI and CRM – most continue to show positive growth, though not by as much as they did three months ago.

A total of 1,607 respondents involved with software purchasing in their company participated in the April 5-19 survey.

Software Spending Outlook: Next 90 Days

A total of 16% of corporate respondents say they’ll spend more on software over the next 90 days – a decline of 5-pts since our previous survey in January. Another 15% say they’ll spend less on software – 2-pts worse than previously.

In sum, while the software growth rate is slower than in the January survey, the overall outlook is still the fourth best of the past three and a half years.

Importantly, although companies of all sizes are showing a slower growth rate, large-sized firms (over 1,000 employees) are the most likely to say they’re spending more on software while small companies (10 or less employees) are least likely.

This information is from ChangeWave Research and contains confidential business information.It may not be copied or distributed without permission. ©2011 ChangeWave Research. All rights reserved.

May 3, 2011


Here’s a breakdown by company size:

Cap Budgets. Overall corporate capital budgets have also taken a hit this quarter according to the ChangeWave survey findings. Only one-in-ten (10%) say their cap budget has increased over the past 90 days – 4-pts lower than previously. Another 17% say their cap budget has adjusted lower – 1-pt worse than three months ago.

Simply put, these are the lowest readings for capital budget growth of the past six quarters. A combination of seasonal factors and the growing impact of inflation and higher energy prices are all partially to blame.

Individual Software Categories

A key focus of this survey is on corporate spending increases and decreases within specific software categories.

And while all of the software categories are registering slower growth rates in terms of next 90 days spending, most categories – including Data Storage (+10; down 7-pts), Virtualization (+10; down 3-pts), BI (+9; down 5-pts), and CRM (+7; down 7-pts) – still show positive growth going forward.

Here’s a closer look at the specific categories:


2


Data Storage Software. For only the second time in more than two years, Data Storage software is registering a slowdown in spending growth, although the net projections remain positive. A total of 17% say their company is increasing Data Storage software spending over the next 90 days while 7% say it’s decreasing – down a net 7-pts since January.

Virtualization Software. Among corporate respondents, 17% say their company will increase its Virtualization software spending going forward, and 7% say it will decrease – a net 3-pt drop since the previous survey.

Business Intelligence/Reporting and Analytics Software. Spending for BI software is still positive going forward, with 15% saying they’re increasing BI spending and 6% decreasing – a net 5-pt drop from previously.


3


Customer Relationship Management (CRM) Software. A total of 15% say their company is increasing its CRM software spending going forward and 8% say it’s decreasing – a net 7-pt drop.

Other software categories that remain positive although with a weaker growth rate include B2C (+3; down 4-pts), ECM (+2; down 5-pts), ERP (+3; down 1-pt), and B2B (+1; down 6-pts).

Key Reasons Behind Corporate Spending PlansEvery quarter we ask software buyers the key reasoning behind their company’s software spending plans going forward. Tellingly, 31% say the driving force behind their firm’s purchasing decisions is their company currently doesn’t need to purchase any new software – up 4-pts since January. Among the other findings:

23% say their company’s existing software is getting outdated and must be replaced – down 2-pts from previously.

9% cite a general improvement in business conditions and capital budgets as the factor most driving their company’s software purchasing decisions – but that’s down 1-pt.

Software Vendors: Next 90 Days

At the software vendor level, the growth rate appears to be slowing for most large-sized companies, with the exception of IBM (IBM; 0), which remains unchanged since our January survey.

While Microsoft (MSFT) remains the top vendor in terms of software spending increases for the next 90 days, its growth rate is down a net 2-pts since January.


4


Other vendors that remain positive but at a lower growth rate than last quarter include Adobe (ADBE; down 1-pt), VMware (VMW; down 2-pts), Hewlett-Packard (HPQ; down 1-pt), SAP (SAP; down 1-pt), Oracle (ORCL; down 3-pts) and Citrix (CTXS; down 3-pts).

Cloud Computing

In the survey we also asked a series of questions to respondents whose company current utilizes cloud computing:

With regard to public cloud computing – "renting" or provisioning the remotely hosted computing resources of a service provider – in which of the following ways does your company use cloud computing services? (Check All That Apply) Current

SurveyApr ‘11

Software as a Service (SaaS) - (e.g., Salesforce.com) 59%Platform as a Service (PaaS) - (e.g., Google AppEngine) 25%Infrastructure as a Service (IaaS) - (e.g., Amazon EC2) 17%

Areas That Run on Cloud Computing Services. Among respondents who say their company is currently using public cloud computing services, Email Systems (35%) is the top area being utilized, followed by Customer Relationship Management (29%) and Collaboration Tools (22%).


5


And in which of the following areas does your company currently support applications that run on public cloud computing services? (Check All That Apply)

Bottom Line: ChangeWave’s latest corporate software survey shows a tightening of the spending growth rate going forward – somewhat disconcerting after the major surge picked up just last quarter.

Some of this slowdown is seasonal in nature. And the growing impact of inflation and higher energy prices may also be partially to blame. Moreover, the software spending environment remains stronger today than for most of the past three years.

Importantly, while the survey shows a tightening among all of the major software categories – including Data Storage, Virtualization, BI and CRM – most still continue to show positive growth, though not by as much as they did three months ago.


6


Summary of Key Findings

The ChangeWave Alliance is a group of 25,000 highly qualified business, technology, and medical professionals in leading companies of select industries—credentialed professionals who spend their everyday lives working on the frontline of technological change. ChangeWave surveys its Alliance members on a range of business and investment research and intelligence topics, collects feedback from them electronically, and converts the information into proprietary quantitative and qualitative reports.

Helping You Profit From A Rapidly Changing World ™www.ChangeWaveResearch.com


7

Software Categories Register Slower Growth Rates But Several Still Show Positive Growth Going Forward Virtualization (+10; down a

net 3-pts) Data Storage (+10; down

7-pts) BI (+9; down 5-pts), CRM (+7; down 7-pts)

Others Categories Weaker – but Still Positive ERP (+3; down 1-pt) B2C (+3; down 4-pts) ECM (+2; down 5-pts) B2B (+1; down 6-pts)

Key Reasons Behind Corporate Spending 31% say their company

currently doesn’t need to purchase any new software – up 4-pts since January.

23% say company’s existing software is getting outdated and must be replaced – down 2-pts

Major Software Vendors – Next 90 Days IBM (0; unchanged)Still Positive But Growth Rates in Decline Microsoft (+8; down 2-pts) Adobe (+3; down 1-pt) VMware (+3; down 2-pts) H-P (+2; down 1-pt) SAP (+1; down 1-pt) Oracle (+1; down 3-pts) Citrix (+1; down 3-pts)

Corporate Software Spending Growth Rate Tightens 90 Day Outlook 16% say their company will

spend more on software over next 90 days – a 5-pt decline since January

15% say their company will spend less – 2-pts worse than previously

Nonetheless, outlook is healthier than 6 months ago – and stronger than much of past 3 years

2Q Capital Budgets Take a Hit 17% say their company’s

cap budget has adjusted lower over past 90 days – 1-pt worse than previously

Only 10% say their cap budget has increased – 4-pts worse


Table of Contents

Summary of Key Findings.............................................................................................7

The Findings...................................................................................................................8

Overall Software Purchasing Trends...........................................................................9

Software Vendors: Next 90 Days..............................................................................15

A Closer Look at the Individual Software Categories................................................17

ChangeWave Research Methodology........................................................................24

About ChangeWave Research....................................................................................24


8


The Findings Introduction: After an explosive surge last quarter, ChangeWave’s latest corporate software survey points to a tighter software spending environment for the next 90 days.

Nonetheless, overall software spending remains stronger than 6 months ago and healthier than for much of the past three years. And while the survey shows a tightening among all of the major software categories – including Data Storage, Virtualization, BI and CRM – most continue to show positive growth, though not by as much as they did three months ago.

A total of 1,607 respondents involved with software purchasing in their company participated in the April 5-19 survey.

Part I. Overall Software Purchasing Trends

Software Spending Outlook – Next 90 Days

A total of 16% of corporate respondents say they’ll spend more on software over the next 90 days – a decline of 5-pts since our previous survey in January. Another 15% say they’ll spend less on software – 2-pts worse than previously.

How would you characterize your company's spending plans for software over the next 90 days compared to the previous 90 days?

CurrentSurveyApr ‘11

Previous SurveyJan ‘11

Previous SurveyOct ‘10

Previous SurveyJul ‘10

Previous SurveyApr ‘10

We are planning to spend more for software compared to previous 90 days

16% 21% 14% 14% 20%

We are planning to spend less for software compared to previous 90 days

15% 13% 20% 18% 13%

There has been no change in spending plans for software compared to previous 90 days

63% 60% 60% 61% 61%

Don't Know /Other 7% 5% 6% 7% 4%


9


In sum, while the software growth rate is slower than in the January survey, the overall outlook is still the fourth best of the past three and a half years.

Importantly, although companies of all sizes are showing a slower growth rate, large-sized firms (over 1,000 employees) are the most likely to say they’re spending more on software while small companies (10 or less employees) are least likely.

Here’s a breakdown by company size:

Corporate Software Spending 90 Day Outlook – By Company Size

Capital Spending

Thinking about your company's overall capital budget for 2nd Quarter 2011, have there been any adjustments made over the past 90 days?



PreviousSurveyOct ‘10


PreviousSurveyApr ‘10

Yes, 2nd Quarter 2011 Capital Budget Has Been Increased Over the Past 90 Days

10% 14% 11% 11% 13%

Yes, 2nd Quarter 2011 Capital Budget Has Been Adjusted Lower Over the Past 90 Days

17% 16% 23% 21% 16%

No, 2nd Quarter 2011 Capital Budget Has Remained the Same

62% 60% 57% 58% 63%

Don't Know 11% 9% 9% 10% 8% Cap Budgets. Overall corporate capital budgets have also taken a hit this quarter according to the ChangeWave survey findings. Only one-in-ten (10%) say their cap budget has increased over the past 90 days – 4-pts lower than previously. Another 17% say their cap budget has adjusted lower – 1-pt worse than three months ago.


10


Simply put, these are the lowest readings for capital budget growth of the past six quarters. A combination of seasonal factors and the growing impact of inflation and higher energy prices are all partially to blame.

Individual Software Categories A key focus of this survey is on corporate spending increases and decreases within specific software categories.

And while all of the software categories are registering slower growth rates in terms of next 90 days spending, most categories – including Data Storage (+10; down 7-pts), Virtualization (+10; down 3-pts), BI (+9; down 5-pts), and CRM (+7; down 7-pts) – still show positive growth going forward.

Here’s a closer look at the specific categories:

Data Storage Software. For only the second time in more than two years, Data Storage software is registering a slowdown in spending growth, although the net projections remain positive. A total of 17% say their company is increasing Data Storage software spending over the next 90 days while 7% say it’s decreasing – down a net 7-pts since January.

(Note that another 58% say their Data Storage software spending will remain the same over next 90 days while 19% say they aren’t purchasing at all but are considering it for the future).


11


Virtualization Software. Among corporate respondents, 17% say their company will increase its Virtualization software spending going forward, and 7% say it will decrease – a net 3-pt drop since the previous survey.

Business Intelligence/Reporting and Analytics Software. Spending for BI software is still positive going forward, with 15% saying they’re increasing BI spending and 6% decreasing – a net 5-pt drop from previously.

Customer Relationship Management (CRM) Software. A total of 15% say their company is increasing its CRM software spending going forward and 8% say it’s decreasing – a net 7-pt drop.


12


Other software categories that remain positive although with a weaker growth rate include B2C (+3; down 4-pts), ECM (+2; down 5-pts), ERP (+3; down 1-pt), and B2B (+1; down 6-pts).

Here’s a look at the complete findings for all software categories:

SUMMARY OF SOFTWARE CATEGORY FINDINGS

And over the next 90 days, do you think your company's software spending in each of the following areas will increase, decrease, or remain the same compared to the previous 90 days?

Significant Increase

Slight Increase

Remain the

Same

Slight Decrease Significant

DecreaseNet Diff

Score

ChangeFrom

PreviousSurvey

Not Purchasing in Next 90 Days, BUT

Considering for Future

Data Storage Software

2% 15% 56% 5% 2% +10 -7 19%

Virtualization Software

3% 14% 51% 4% 3% +10 -5 25%

Business Intelligence/Reporting and Analytics (BI)

2% 13% 57% 4% 2% +9 -5 23%

Customer Relationship Management (CRM)

3% 12% 54% 6% 2% +7 -7 23%

Database Software

2% 12% 58% 6% 3% +5 NA 19%

B2C e-Commerce (Business to Consumer)

2% 8% 58% 5% 2% +3 -4 25%

Enterprise Resource Planning (ERP)

2% 9% 61% 5% 3% +3 -3 19%

Document and Enterprise Content Management (ECM)

2% 10% 57% 7% 3% +2 - 5 22%

B2B e-Commerce (Business to Business)

1% 8% 59% 6% 2% +1 -6 23%

Supply Chain Management (SCM)

2% 6% 67% 5% 2% +1 -2 17%

Product Lifecycle Management (PLM)

0% 7% 64% 6% 4% -3 -4 19%

Sourcing and Procurement

1% 6% 64% 7% 3% -3 -4 18%


13


Key Reasons Behind Corporate Spending Plans

Every quarter we ask software buyers the key reasoning behind their company’s software spending plans going forward.

Looking at the following areas, which one is most driving your software purchasing decisions?


Previous Survey Jan ‘11

Previous SurveyOct ‘10


Previous SurveyApr ‘10

We currently do not need to purchase any new software

31% 27% 28% 29% 26%

Existing software is getting outdated and must be replaced

23% 25% 24% 23% 26%

General slowdown in business conditions and capital budgets

11% 11% 14% 14% 11%

A general improvement in business conditions and capital budgets

9% 10% 7% 8% 10%

Enhancing our ability to innovate and develop new products and services

7% 8% 8% 7% 8%

New software capabilities are accelerating the replacement cycle

5% 5% 5% 4% 6%

We are waiting for new technology enhancements before purchasing new software

5% 4% 3% 4% 4%

Improved customer service 4% 5% 4% 4% 5%New software is easier to use 2% 2% 2% 2% 2%Other 4% 2% 4% 4% 3% Tellingly, 31% say the driving force behind their firm’s purchasing decisions is their company currently doesn’t need to purchase any new software – up 4-pts since January. Among the other findings:

23% say their company’s existing software is getting outdated and must be replaced – down 2-pts from previously.

9% cite a general improvement in business conditions and capital budgets as the factor most driving their company’s software purchasing decisions – but that’s down 1-pt.


14


Expected Time Period of Greatest Increase

We also asked respondents when they expect software spending in their company to show the greatest increase.

In which time period do you expect software spending in your company to show the greatest increase, compared to the previous 90 days?



2Q 2011 (Apr-Jun 2011) 9% 1Q 2011 (Jan-Mar 2011) 9%3Q 2011 (Jul-Sep 2011) 15% 2Q 2011 (Apr-Jun 2011) 16%4Q 2011 (Oct-Dec 2011) 13% 3Q 2011 (Jul-Sep 2011) 18%1Q 2012 (Jan-Mar 2012) 9% 4Q 2011 (Oct-Dec 2011) 11%2Q 2012 (Apr-Jun 2012) 6% 1Q 2012 (Jan-Mar 2012) 6%3Q 2012 (Jul-Sep 2012) 3% 2Q 2012 (Apr-Jun 2012) 3%4Q 2012 or Later 11% 3Q 2012 or Later 9%Don't Know/NA 33% Don't Know/NA 27%

While 24% say they expect their company’s software spending will show the greatest increase in either this quarter or next quarter – that’s 2-pts less than our January survey (25%). Another 13% think it will be in the 4th Quarter of 2011 – 5-pts less than previously.

Part II. Software Vendors: Next 90 DaysAt the software vendor level, the growth rate appears to be slowing for most large-sized companies, with the exception of IBM (IBM; 0), which remains unchanged since our January survey.

While Microsoft (MSFT) remains the top vendor in terms of software spending increases for the next 90 days, its growth rate is down a net 2-pts since January.

Other vendors that remain positive but at a lower growth rate than last quarter include Adobe (ADBE; down 1-pt), VMware (VMW; down 2-pts), Hewlett-Packard (HPQ; down 1-pt), SAP (SAP; down 1-pt), Oracle (ORCL; down 3-pts) and Citrix (CTXS; down 3-pts).


15


Two other companies, McAfee (recently acquired by Intel; INTC) and Check Point Software (CHKP), show no change from previously, but we note that spending for each is flat (the percentage saying their company is increasing spending is exactly the same as the percentage saying decreasing) – exactly the same as previously.

Here’s a look at the complete findings for the software vendors:

Looking at your company's overall IT software and services spending plans for the next 90 days, please tell us if your company will increase their spending with each of the following vendors, decrease their spending, or will spending remain the same over the next 90 days compared to the previous 90 days?

Increase Decrease Net Score

Change inNet Score

Since PreviousSurvey

Remainthe

Same

NotPurchasingIn Next 90Days, But

Consideringfor Future

NotPurchasingIn Next 90

Days, and NOTConsidering

for Future/NAMicrosoft (MSFT) 12% 4% +8 -2 39% 12% 33%Adobe (ADBE) 6% 3% +3 -1 39% 12% 40%VMware (VMW) 6% 3% +3 -2 18% 10% 62%Hewlett-Packard (HPQ) 5% 3% +2 -1 24% 9% 59%SAP (SAP) 3% 2% +1 -1 14% 6% 74%Oracle (ORCL) 5% 4% +1 -1 21% 8% 63%Citrix (CTXS) 4% 3% +1 -3 17% 9% 67%IBM (IBM) 2% 2% 0 0 23% 8% 63%Check Point Software (CHKP)

2% 2% 0 0 12% 9% 76%

McAfee 3% 3% 0 0 25% 9% 60%


16


Part III. A Closer Look at the Individual Software Categories

We also asked respondents about the specific types of software their company currently uses within individual software categories – including ECM, BI, ERP and Database Software.

Enterprise Content Management (ECM) software

Which of the following types of ECM software does your company/ organization currently use - (including ECM SaaS)? (Check All That Apply)


Document Management 73%Records Management and Archiving 49%E-Mail Management 45%Web Content Management 42%Transactional Content Management (incl. imaging and output management)

20%

Digital Asset Management 16%Don't Know 1%Other 1%

Types of ECM Software. Among respondents who say their company currently uses ECM software, Document Management (73%) is the leading type used. Records Management and Archiving (49%) comes in second, followed by E-Mail Management (45%).


17


Business Intelligence (BI) software

Which of the following types of Business Intelligence/ Reporting and Analytics (BI) software does your company currently use - (including BI SaaS)? (Check All That Apply)


Business Intelligence and Reporting Tools

71%

Performance Management(e.g., Financial Planning & Budgeting)

48%

Analytical Applications 42%Analytic Infrastructure (e.g. Data Warehouses, Integration) 29%Predictive Analytics/Data Mining 27%Don't Know / Other 6%

Types of BI Software. Among respondents who say their company currently uses BI software, Business Intelligence and Reporting Tools (71%) is overwhelmingly the leading type used. Performance Management (48%) comes in second.


18


Enterprise Resource Management (ERP) software

Which of the following types of Enterprise Resource Planning (ERP) software does your company currently use - (including ERP SaaS)? (Check All That Apply)


Financial/Accounting 75%Human Resources 48%Order Management 40%Supply Chain Management (as part of ERP package)

38%

Procurement (as part of ERP package)

38%

Manufacturing 31%Complete ERP Package 28%Don't Know 1%

Types of ERP Software. Among respondents who say their company currently uses ERP software, Financial/Accounting (75%) is the leading type used. Human Resources (48%) ranks a distant second.


19


Database Software

Which of the following types of Database software does your company currently use - (including Database SaaS)? (Check All That Apply)


Desktop/Departmental Database 45%Operational Database 41%Analytical Database/Data Mart 31%Enterprise Data Warehouse 30%NoSQL Database 6%Hadoop (Apache) 2%Don't Know 6%Other 7%

Types of Database Software. Among respondents who say their company currently uses Data Storage software, Desktop/Departmental Database (45%) and Operational Database (41%) are the leading types used.


20


Virtualization

In terms of virtualization software, we asked respondents which enterprise applications/technologies their company is currently running on virtual servers.

Which of the following enterprise applications/technologies - if any - does your company or organization currently run on virtual servers (e.g., servers running VMware, Microsoft Hyper-V, Xen, etc.)? (Check All That Apply)


Database Software 56%Customer Relationship Management (CRM) 36%Business Intelligence/Reporting and Analytics (BI) 28%Document and Enterprise Content Management (ECM) 26%B2B e-Commerce (Business to Business) 21%Enterprise Resource Planning (ERP) 18%Sourcing and Procurement 18%Supply Chain Management (SCM) 18%B2C e-Commerce (Business to Consumer) 15%Product Lifecycle Management (PLM) 10%Other 7%

Types of Virtualization Technologies. Among respondents who say their company is currently running applications on virtual servers, Database Software (56%) is the overall leading type used. Other types in use are Customer Relationship Management (36%), Business Intelligence/ Reporting and Analytics (28%), and Document and Enterprise Content Management (26%).


21


Cloud Computing

In the survey we also asked a series of questions to respondents whose company current utilizes cloud computing:

Public cloud computing (i.e., "renting" or provisioning the remotely hosted computing resources of a service provider) can be broken down into three main categories: Software as a Service (e.g., Salesforce.com), Platform as a Service (e.g., Google AppEngine), and Infrastructure as a Service (e.g., Amazon EC2).With regard to public cloud computing, in which of the following ways does your company use cloud computing services? (Check All That Apply)


Software as a Service (SaaS) - (e.g., Salesforce.com) 59%Platform as a Service (PaaS) - (e.g., Google AppEngine) 25%Infrastructure as a Service (IaaS) - (e.g., Amazon EC2) 17%Don't Know 6%Other 8%

And in which of the following areas does your company currently support applications that run on public cloud computing services? (Check All That Apply)

CurrentSurvey

Apr ‘11Email Systems 35%Customer Relationship Management (CRM) 29%Collaboration Tools 22%Disaster Recovery/Failover 20%Document and Enterprise Content Management (ECM) 17%B2B e-Commerce (Business to Business) 16%Business Intelligence/Reporting and Analytics (BI) 14%B2C e-Commerce (Business to Consumer) 14%Test and Development 9%Enterprise Resource Planning (ERP) 7%Sourcing and Procurement 7%Supply Chain Management (SCM) 6%Product Lifecycle Management (PLM) 3%Don't Know 6%Other 7%

Areas That Run on Cloud Computing Services. Among respondents who say their company is currently using public cloud computing services, Email Systems (35%) is the top area being utilized, followed by Customer Relationship Management (29%) and Collaboration Tools (22%).


22


Which cloud computing vendor(s) does your company currently use? (Check All That Apply)


Google 26%Salesforce.com/Force.com 20%Microsoft 17%Amazon 11%AT&T 6%IBM 5%Oracle (including Sun) 5%Rackspace/Mosso 5%EMC/Mozy 4%Dell 3%Hewlett-Packard 2%Verizon 2%GoGrid 1%Terremark 1%Other 28%


23


ChangeWave Research Methodology This report presents the findings of our latest ChangeWave Research survey on corporate spending for software. The survey was conducted April 5-19, 2011 and a total of 1,607 respondents involved with IT spending in their company participated.

ChangeWave's proprietary research and business intelligence gathering system is based upon the systematic gathering of valuable business and investment information directly over the Internet from accredited members.

The Research Network is assembled from senior technology and business executives in leading companies of select industries. More than half of members (53%) have advanced degrees (e.g., Master's or Ph.D.) and 91% have at least a four-year bachelor's degree.

The business and investment intelligence provided by ChangeWave provides a real-time view of companies, technologies and business trends in key market sectors, along with an in-depth perspective of the macro economy – well in advance of other available sources.

About ChangeWave Research

ChangeWave Research, LLC identifies and quantifies "change" in industries and companies through surveying a network of thousands of business executives and professionals working in more than 20 industries.

The ChangeWave Research Network is a group of 25,000 highly qualified business, technology, and medical professionals – as well as early adopter consumers – who work in leading companies of select industries. They are credentialed professionals who spend their everyday lives on the frontline of technological change. ChangeWave surveys its Network members weekly on a range of business and consumer topics, and converts the information into a series of proprietary quantitative and qualitative reports.

ChangeWave delivers its products and services on the Web at www.ChangeWaveResearch.com.

ChangeWave Research does not make any warranties, express or implied, as to results to be obtained from using the information in this report. Investors should obtain individual financial advice based on their own particular circumstances before making any investment decisions based upon information in this report.

For More Information:

ChangeWave Research Telephone: 301-250-22007101 Wisconsin Ave. Fax: 301-926-8413Suite 1350 www.ChangeWaveResearch.comBethesda, MD 20814 [email protected]

Helping You Profit From A Rapidly Changing World ™www.ChangeWaveResearch.com


24

http://www.ChangeWaveResearch.com/

mailto:[email protected]



COMPNAY REPORTS - ChangeWave Alliance > · Web viewSAP (SAP; down 1-pt), Oracle (ORCL; down...

Documents

Transcript of COMPNAY REPORTS - ChangeWave Alliance > · Web viewSAP (SAP; down 1-pt), Oracle (ORCL; down...