Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Advanced analytics is the autonomous or semi-autonomous exploration of data or content using sophisticated techniques and tools, usually outside the scope of traditional business intelligence (BI), to discover deeper information, predict, or make recommendations. Advanced analytical techniques include data / text extraction, machine learning, pattern matching, network and cluster analysis, prediction, visualization, semantic analysis, sentiment analysis, and multivariate statistics. Major players from various sectors, such as BFSI, IT and telecommunications, as well as energy and utilities, use advanced analytics to process data smoothly and make quick decisions to maintain their competitive advantage in the market.
The growing preference for advanced technology and business intelligence and analytics is accelerating the growth of the global market for advanced analytics. The use of advanced analytics helps to make decisions much faster, enhance processes and helps identify opportunities, thereby increasing its demand.
Covid19, drastically affects the world supply chain and industrial sector growth. At the initial stages of the pandemic, the world experienced, ‘supply shocks’. In the foreseeable future, the COVID-19 pandemic has accelerated the existing trend toward digital marketplaces. Growing demand for digital transformation, increased investment in analytics, growing demand for remote services and location data, and the growing need for real-time information to track and monitor COVID -19 spread are the various factors driving the demand for advanced analytics.
The report analyses the advanced analytics market based on type, organization size, deployment type, verticals, and geography.
By type, the global advanced analytics market is segmented into statistical analysis, big data analytics, customer analytics, social analytics, visual analytics, risk analytics, business analytics, and predictive modeling. Big data analytics is expected to gain the largest market share due to the growth of online virtual offices and the growing popularity of social platforms that generate massive amounts of data.
By organization size, the global advanced analytics market is segmented into small and medium-sized enterprises and large enterprises. Large enterprises dominated the market in 2020 because they deal with large amounts of data. The development of customer analytics and business information with the massive amount of data generated by these companies will certainly have an impact on the growth rate of the market.
The global advanced analytics by deployment type is classified into on-premise and cloud.
The global advanced analytics by vertical is classified into BFSI, IT & telecommunication, healthcare, government & defense, transportation & logistics, consumer goods & retail, and others. Among these, BFSI segment is holding the largest market share of the advanced analytics market owing to the growing need of minimizing the frauds and risk handling. In addition, the replacement of traditional anti-fraud tools with advanced analytics as a result of increased fraud will drive market growth.
Geographically, the advanced analytics market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which includes Latin America, and Middle East & Africa. North America has dominated the market due to the adoption of technologies such as artificial intelligence and big data analytics, and the availability of support infrastructure. The growth of the regional market is driven by the growing use of advanced analytical tools by automobile manufacturers in the region. Also, the growth of the regional market is further stimulated by the growing proliferation of social networks, which fuels the demand for advanced analytical solutions.
Some of the major players operating in this market include SAP SE (Germany), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAS Institute (U.S.), KNIME AG (Switzerland), Statsoft, Angoss Software Corporation (Canada), Microsoft Corporation (U.S.) and Fico (U.S.) among others.
The report analyses the advanced analytics market based on type, organization size, deployment type, verticals, and geography. Advanced analytics type include statistical analysis, big data analytics, customer analytics, social analytics, visual analytics, risk analytics, business analytics, and predictive modeling. Based on organization size, the market includes small and medium-sized enterprises and large enterprises. Advanced analytics deployment type includes on-premise and cloud. The major vertical of the market includes into BFSI, IT & telecommunication, healthcare, government & defense, transportation & logistics, consumer goods & retail, and others.
Some of the major players operating in the market include SAP SE, IBM Corporation, Oracle Corporation, SAS Institute, KNIME AG, Statsoft, Angoss Software Corporation, Microsoft Corporation and Fico among others.
Geographically, the advanced analytics market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and the rest of the world regions which include Latin America, and Middle East & Africa.
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