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Global Business Analytics Market 2021 analysis with Key Players, Applications, Trends and Forecasts

Business Analytics

The report focuses on the favorable Global “Business Analytics market” and its expanding nature. The Business Analytics market report provides a comprehensive study of the market segmentation, service providers, stockholders, sponsors, and important market players, size, and share, market dynamics such as the growth drivers, restraints, challenges, and opportunities.

Market Overview:

  • The business analytics market is expected to witness a CAGR of 7.3% during the forecast period (2019-2024). Virtualization and explorative data analysis for business users have evolved into one of the most important trends in the business analytics market. A host of major industries are also leveraging the power of business analytics to make strategic business decisions.
  • – Managers and executives in lines of business and departmental functions want to obtain a comprehensive situation awareness and an understanding of predictive patterns by analyzing diverse data. Leading vendors took other steps to make their solutions smarter and faster, including enhancing internal capabilities for pre-building queries and using machine learning and other artificial intelligence (AI) techniques to speed data preparation.
  • – The high initial investment can be a restraint to the growth of the market as affordability can be a problem for many companies, especially for small and medium enterprises.
  • – While business analytics helps in supply chain management, inventory management measures the performance of targets, as well as risk mitigation plans when it comes to manufacturing. It also plays an important role in fraud detection and defense.
  • – BFSI sector has the largest adoption of business analytics presently among other end-user segments. Retail and e-commerce are also expected to grow lucratively over the forecast period.

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    Key Manufacturers

  • Oracle Corporation
  • IBM Corporation
  • SAP SE
  • Microsoft Corporation
  • Tibco Software, Inc.
  • SAS Institute, Inc.
  • Infor, Inc.
  • Microstrategy Incorporated
  • QLIK Technologies, Inc.
  • Tableau Software, Inc.

    Market Dynamics: –

    • Drivers: (Developing regions and growing markets)
    • Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
    • Opportunities: (Regional, Growth Rate, Competitive, Consumption)

    Business Analytics market report focuses on the latest trends in the global and regional spaces on all the significant components, including the capacity, cost, price, technology, supplies, production, profit, and competition. Moreover, the old data and present development of the Business Analytics market have been given in the scope of the report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Business Analytics market have also been involved in the study.

    Scope of the Report:

  • Business analytics refers to the skills, technologies, practices for continuous iterative exploration, and investigation of past business performance to gain insight and drive business planning. Business analytics software is being used by companies for query reporting and analysis tools, advanced and predictive analytics, location intelligence, content analytics, data warehousing platform, and enterprise performance management.

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    TOC of Business Analytics Market Report Covered:

    Introduction, Research Methodology, Executive Summary, Key Inferences, Market Overview, Business Analytics market Dynamics, Market Segmentation, Competitive Landscape, Key Players, Future of the Market, and continued…

    Reasons to Purchase Business Analytics Market Report Covered:

    • The report analyses how Business Analytics market will grow in the future.
    • Analyzing various perspectives of the Business Analytics market with the help of Porter’s five forces analysis.
    • Study on the product type that is expected to dominate the market and regions that are expected to witness the fastest growth during the forecast period
    • Recognize the new developments, Business Analytics market shares and policies employed by the major market players.
    • Competitive landscape including the Business Analytics market share of major players along with the key policies accepted for development in the past five years
    • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis and strategies employed by the major Business Analytics market players

    Key Market Trends:

    Healthcare Sector Accounts for a Significant Share in the Market

    – With more fiscal and regulatory pressure than ever before, healthcare providers are rethinking how they can operate and create new systems to make care more cost-effective. In this regard, business analytics can go a long way in helping clinics, hospitals, and medical practices discover new ways to streamline operations.
    – The Healthcare Information and Management Systems Society (HIMSS) led a study that shows a 6% increase in the number of organizations using clinical and business intelligence (C&BI) since 2013.
    – Moreover, with the implementation of the Health Information Technology for Economic and Clinical Health (HITECH) Act, Electronic Medical Records (EMRs) have become mandatory, and the adoption has risen to more than 90% of healthcare providers.
    – Business analytics can be utilized to improve almost any aspect of healthcare operations. For instance, by analyzing patterns in emergency-room care, hospitals can refine their staffing strategies, determining how many nurses may be required during different shifts.
    – For Philips Group, health monitoring and analytics accounted for the majority of the sales of healthcare informatics. Furthermore, 52% of the providers are using their EMR/HIS (Hospital Information Services) vendor for C&BI. With this increase in healthcare informatics and EMRs, business analytics in the industry is expected to have significant growth potential.

    North America to Lead the Market

    – Along with mobile, social, and cloud, analytics and associated data technologies have risen to become one of the core disruptors of the digital era. Over the past few years, major organizations in the region have transitioned from traditional data management approach toward a business-driven data approach.
    – The emergence of agile processing models enabled the same instance of data to support batch analytics, interactive analytics, global messaging, database, and file-based models in different types of organizations in the United States.
    – Recently, the Mount Sinai Medical Center in Miami Beach was able to determine that it was overpaying for pacemakers for cardiovascular care and was able to negotiate a better price with the supplier by leveraging business analytics.
    – Using global positioning data and other related metrics, emergency medical services (EMS) providers have been able to improve response time. Jersey City Medical EMS was able to cut its average response time to less than six minutes by using business analytics.

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    Study objectives of Business Analytics Market Report:

    • To provide a detailed analysis of the market structure along with the Business Analytics market forecast of various segments and sub-segments of the Business Analytics market
    • To provide insights into factors influencing and affecting market growth
    • To provide historical, current, and forecast revenue of market segments based on material, type, design, and end user
    • To provide historical, current, and forecast revenue of market segments and sub-segments with respect to regional markets and key countries
    • To provide strategic profiling of key players in the market, comprehensively analyzing their market shares, core competencies, and drawing a competitive landscape for the market
    • To provide economic factors, technology and Business Analytics market trends that influence the global Business Analytics market

    Detailed TOC of Business Analytics Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Changes in Business Environment
    4.3.2 Increasing Volumes of Data
    4.3.3 Increased Emphasis on Gaining Insights Into Consumer Behavior
    4.4 Market Restraints
    4.4.1 High Investment Costs and Reluctance in Adoption Challenge the Market Growth
    4.5 Industry Value Chain Analysis
    4.6 Industry Attractiveness – Porter’s Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 By Software
    5.1.1 Query Reporting and Analysis Tools
    5.1.2 Advanced and Predictive Analytics
    5.1.3 Location Intelligence
    5.1.4 Content Analytics
    5.1.5 Data Warehousing Platform
    5.1.6 Enterprise Performance Management
    5.2 By Deployment Model
    5.2.1 On-premise
    5.2.2 Cloud-based
    5.2.3 Hybrid
    5.3 By End-user Industry
    5.3.1 Banking, Financial Services, and Insurance
    5.3.2 Energy and Power
    5.3.3 Healthcare
    5.3.4 Manufacturing
    5.3.5 Retail
    5.3.6 Telecom and IT
    5.3.7 Other End-user Industries
    5.4 Geography
    5.4.1 North America
    5.4.2 Europe
    5.4.3 Asia-Pacific
    5.4.4 Latin America
    5.4.5 Middle East & Africa

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Oracle Corporation
    6.1.2 IBM Corporation
    6.1.3 SAP SE
    6.1.4 Microsoft Corporation
    6.1.5 Tibco Software, Inc.
    6.1.6 SAS Institute, Inc.
    6.1.7 Infor, Inc.
    6.1.8 Microstrategy Incorporated
    6.1.9 QLIK Technologies, Inc.
    6.1.10 Tableau Software, Inc.

    7 INVESTMENT ANALYSIS

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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