It is likely for this reason that the current consolidation phase may have some folks feeling a little nervous.

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"The Hong Kong market is going into a gradual consolidation phase, " said Linus Yip, First Shanghai Securities strategist in Hong Kong.

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During the current consolidation phase, stocks have been inversely linked to the movement in oil prices the vast majority of the time.

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And Phase 3, Consolidation, and Phase 4, Boom II, are waiting in the wings.

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While cyclical IT budgeting factors are likely at work, we also believe that the BI market has matured after a post-recession and post-consolidation growth phase and that enterprise attention has turned to new data processing and analytics technologies.

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"We are a participant in the expansion phase, and we intend to participate in the consolidation, " Greifeld says.

FORBES: About Robert Greifeld