Advanced Analytics Market accounted for USD 7.56 billion in 2017 and is projected to grow at a CAGR of 33.8% the forecast period of 2018 to 2025. The advanced analytics market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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A part of these methods are incorporated in machine learning, data mining, predictive analytics, location analytics, big data analytics and location intelligence. Various organizations offer software packages that perform advanced analytics. In simpler words, advanced analytics is used to forecast the future outcomes of any business industry.
For instance, statistics, descriptive and predictive data mining, simulation and optimization to deliver bits of knowledge to deal with business intelligence (BI) Advanced analytics offers to a wide scope of analytics that are expected to give organizations more prominent understanding into their information.The renowned players market are
- Welltok, Inc.
- Intel Corporation
- Google Inc.
- IBM Corporation
- Microsoft Corporation
- General Vision
- Enlitic, Inc.
- Next IT Corporation
- Amazon Web Services
- Facebook Inc.
Other Players are RapidMiner, Dell, FICO, HP, Information Builders, Pitney Bowes, Prognoz, Revolution Analytics, Teradata, Accretive Technologies among others. The global advanced analytics market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of advanced analytics market for global, Europe, North America, Asia Pacific and South America.
Advanced analytics totally depends upon any computer-based analytical technique that relies both on current software technology and expertise of the analyst. PCs are equipped for playing a solid role, however they are constrained. Despite the fact that they can analyze far more profound than humans, they should be guided by a learned client to expand their execution. A similar idea applies to examination.
- A special analyst can take the application capacities found in analytics software like SAS or IBM’s SPSS modeler and do profitable investigation that couldn’t be performed by the product alone or even with a run of the mill end client.
- According to Kirk Borne, Principal Data Scientist and Executive Advisor at Booz Allen Hamilton, IoT (internet of things) along with artificial intelligence will dominate the world in the next five years.
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Market Segmentation: Global Advanced Analytics Market
- The global advanced analytics market is based on
- Banking and financial services
- Telecom and it services
- Government and defense
- Transportation and logistics
- Consumer goods and retail
- Geographical segments
- By banking and financial services, the market is segmented into
- Regulatory reforms
- Customer profitability
- Operational efficiency
- Risk management
- Credit risk analysis
- Fraud detection and management
- Budgeting and planning and process optimization
- By telecom and IT services, the market is segmented into
- Targeting offer and campaign management
- Cell site optimization
- Revenue assurance
- Customer profitability analysis
- Network dynamics and congestion control
- Social network analysis
- By healthcare, the market is segmented into
- Predictive Modeling
- Financial Performance And Monitoring
- Fraud Detection And Management
- By government and defense, the market is segmented into
- Fraud Detection And Management
- Defense Health And Scenario Planning
- By transportation and logistics, the market is segmented into
- Inventory Optimization
- Supply Chain Planning
- Sales And Operational Planning
- Quality Lifecycle Management
- By consumer goods and retail, the market is segmented into
- Price Optimization
- Customer Insight
- Planning And Organization
- Merchandize Planning
- Size Optimization
- Based on geography the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Market Drivers and Restraints:
- Increasing demand to counter big data challenges.
- Increasing need to address vertical specific challenges.
- Deployment of solutions over cloud.
- Due to extensive data generation, enterprises need advanced analytics solutions to automate the process.
- High implementation cost.
- Technical faults can happen during upgradation.
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Reasons to Purchase this Report
- Current and future of the global advanced analytics market outlook in the developed and emerging markets
- The segment that is expected to dominate the advanced analytics market as well as the segment which holds highest CAGR in the forecast period.
- Regions/countries that are expected to witness the fastest growth rates during the forecast period
- The advanced analytics latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report
- The advanced analytics report includes the complete segmentation displayed above across all above mentioned countries
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
The Global Business Intelligence Market accounted for USD 18.2 billion in 2016 growing at a CAGR of 10.3% during the forecast period of 2017 to 2024. The market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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