According to a new market research report published by Global Insight Services “Advanced Analytics Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Advanced analytics is a term for the sophisticated statistical and mathematical techniques used to examine data and draw conclusions from it. Data mining, predictive modeling, and machine learning are all forms of advanced analytics.
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Key Players
The global advanced analytics market includes players such as Oracle, Altair, Microsoft, IBM, Adobe, Teradata, DataRobot, DataChat, Imply, Promethium, and others.
Key Trends
There are four key trends in Advanced Analytics technology:
1. The use of artificial intelligence (AI) and machine learning (ML) to automate the analysis of data.
2. The use of big data to drive the analysis.
3. The use of predictive analytics to identify future trends.
4. The use of prescriptive analytics to recommend actions.
Key Drivers
There are four key drivers of the advanced analytics market:
1. The increasing volume of data: With the proliferation of digital devices and the growth of the Internet of Things (IoT), organizations are now generating more data than ever before. This increase in data volume is driving organizations to adopt advanced analytics solutions to help them make sense of all this data.
2. The need for real-time insights: In today’s fast-paced business world, organizations need to be able to make decisions quickly.
3. The need for more personalized experiences: With the growth of digital channels, customers now expect a more personalized experience.
4. The need to improve operational efficiency: Advanced analytics solutions can help organizations improve their operational efficiency by identifying inefficiencies and areas for improvement.
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Market Segments
The advanced analytics market is segmented by business function, type, end-use, and region. By business function, the market is classified into finance, human resource, operations, supply chain, and marketing and sales. On the basis of type, it is bifurcated into big data analytics, predictive analytics, customer analytics, and others. Based on end-use, it is divided into BFSI, healthcare, consumer, transportation, and others. Region-wise, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
Reasons to buy Advanced Analytics Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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