Business intelligence (BI) is the dominant technology for decision support in medium and large organizations. Unfortunately, there has been no rigorous academic research on the market and innovation strategies of the leading vendors. This is surprising as BI is a key technology priority for CIOs and unusually in a major global financial downturn it is an area of significant growth in IT spending. This paper presents a preliminary study of market strategy and innovation in one of the four leading BI vendors, Cognos/IBM. The case study uses data from archived press releases and statutory financial returns to analyze Cognos's activities from 1995 to 2009. The results illuminate a complex commercial environment. Based on the case study and background literature a research agenda structured around eight key questions is proposed.