Global Operational Analytics Market:
About this market
Technavio’s operational analytics market analysis considers sales from manufacturing, telecom and IT, BFSI, transportation, retail, and others. Our analysis also considers the sales of operational analytics in APAC, Europe, North America, South America, and MEA. In 2018, the manufacturing segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as growing concentration on cost reduction and process efficiency will play a significant role in the manufacturing segment to maintain its market position. Also, our global operational analytics market report looks at factors such as rise in demand for cloud-based data management strategies, need for process optimization, and rise in IoT data. However, the lack of skilled personnel, high initial investments, and issues in data quality may hamper the growth of the operational analytics industry over the forecast period.
Global Operational Analytics Market: Overview
The rise in demand for cloud-based data management strategies
Organizations are integrating Business Intelligence (BI) strategies into other business applications such as CRM and ERP to improve the quality of their data, to better understand their customer better, and to discover new markets. Organizations are implementing BI analytics in the cloud to generate valuable data from third-party sources. The benefits of cloud computing such as scalability, reliability, and agility, are fueling the demand for the adoption of cloud-based solutions by organizations. This will lead to the expansion of the global operational analytics market at a CAGR of over 13% during the forecast period.
AI-based operational analytics
Enterprises are adopting AI-based operational analytics to gain real-time access to operational data and automate their decision-making processes. The real-time access to up-to-date data helps the enterprises to make decisions on their day-to-day operations. The AI-based operational analytics collects and gathers transactional and analytical data. The power of machine learning helps enterprises to predict events such as detect fraudulent activities or identify customer purchase patterns. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global operational analytics market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global operational analytics market is concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of few leading operational analytics manufacturers, that include Hewlett Packard Enterprise Development LP, IBM Corp., Oracle Corp., SAP SE, SAS Institute Inc.
Also, the operational analytics market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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