Visual Analytics Market in the US Education Sector 2016-2020
About Visual Analytics
Visual analytics is an emerging field of analytics that involves the use of visualization, data mining, and statistics to handle massive volumes of data. This is done with the help of human judgement by means of visual representations and interaction techniques. In visual analytics, instead of limiting the analysis to predefined metrics to examine data and study relations between parameters, data analysts are increasingly incorporating analytical reasoning and advanced computation with data visualization.
Technavio’s analysts forecast the visual analytics in US education market to grow at a CAGR of 8.59% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the visual analytics in US education market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of visual analytics software to the education segment.
The market is divided into the following segments based on end-users:
Technavio Announces the Publication of its Research Report – Visual Analytics in US Education Market 2016-2020
Technavio recognizes the following companies as the key players in the visual analytics in US education market: Oracle, Qlik Technologies, SAS Institute, Tableau, Domo, Dundas Data Visualization, IBM, Logi Analytics, MicroStrategy, and SAP.
Commenting on the report, an analyst from Technavio’s team said: “Growing innovations in vendor offerings will be a key trend for market growth. Leading vendors are focusing on adding functionalities for the users to be able to analyze data in a visual environment and reduce the reliance on IT to carry out the same task. Vendors in the business intelligence market have an intense competition to increase their market share in the visual analytics tools market.”
According to the report, emergence of self-service analytics will be a key driver for market growth. While predictive and statistical analytical techniques were widely used in the banking and insurance industry, they are increasingly being adopted by other industries, such as retail and education. Unlike traditional analytical tools, advanced analytical tools are not restricted to historical reporting and help users better predict future scenarios. To gain a differential edge from competitors, vendors are venturing into self-service tools. These tools can not only be used by data scientists and statisticians but can also be used by professionals with less technical expertise, such as administrators at educational institutions. The goal of self-service analytics is to empower decision makers with a technology that will allow them to rapidly explore various solutions to improve problem-solving abilities.
Further, the report states that scalability is a challenge for vendors in the visual analytics market as it determines the ability of vendors to process large datasets using computational overheads and rendering techniques. Over the years, vendors in the visual data analytics market have developed various techniques for the visualization of datasets. However, a lot of tools are not scalable to large datasets, which are used in visual analytics. While the quantity of data is growing, the number of pixels on the display remains constant, and the compression required to visualize the dataset on the display is increasing. Therefore, it is a challenge for vendors to create a view of datasets, which provide more insight and maximize the amount of details.
Oracle, Qlik Technologies, SAS Institute, Tableau, Domo, Dundas Data Visualization, IBM, Logi Analytics, MicroStrategy, and SAP.