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Global Advanced Analytics Market: Overview

Globally, the demand for big data have increased at a significant rate due to increasing cloud services, growing accumulation of data, and high demand for data analytics. All these factors have boosted demand in the global advanced analytics market. With cloud-based services becoming mainstream along with its seamless connectivity led in growth of data sharing and analytics.

Growing preference for advanced technologies along with business intelligence and analytics are also accelerating growth in the global advanced analytics market. Use of advanced analytics helps in taking decisions in a much quicker manner, improves processes, and helps in identifying opportunities, thus, augmenting demand in the global advanced analytics market.

Alongside these factors, various other growth factors are presented in the report that helps key market participants in taking well-informed decisions. Competitor’s analysis, regional growth, and leading segments all are given in the report.

Global Advanced Analytics Market: Notable Developments

Organizations from different sectors are deploying advanced analytics to get their hands on raw data to predict future trends. Companies operating in healthcare, banking and finance, retail and consumer goods, government, defense, and various other industries are using advanced analytics. For example:

  • Brightree introduced an analytics platform for HMEs that helps in KPI tracking, provide workflow insights, peer benchmarking reducing users efforts to aggregate data themselves. Brightree’s Advanced Analytics based on large number of data points helps HMEs with scalable data solutions. This will benefit companies in making advanced and well-informed decisions varying from business operations, revenue cycle management, and resupply programs.
  • PrevenTech™ is solution introduced by Cummins Inc (CMI) that helps in digital monitoring and reporting solution by detecting potential equipment health issues. It will help in mitigating performance impact and enhance mine site productivity with smooth service planning and maintenance.

Some of the other key players in the global advanced analytics market are Angoss Software Corporation, SAS Institute, Fico, SAP SE, Oracle Corporation, IBM Corporation, KNIME AG, Statsoft, and Microsoft Corporation.

Global Advanced Analytics Market: Trends and Opportunities

Significant rise in market competition, an ongoing trend has boosted growth in the global advanced analytics market. Rising significance of data may it be structure or unstructured has now a crucial role to play, which will further expand growth opportunities in this market. Moreover, availability of different advanced analytics such as text analytics, predictive analytics, and customer analytics decision support and optimization applications that provide advanced results have bolstered demand in the global advanced analytics market.

Strong and Technically Advanced Infrastructure, Strengthen North America’s Position in Global Advanced Analytics Market

On the regional frontier, the global advanced analytics market covers North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, North America is estimated to hold maximum share in the global advanced analytics market. Growing adoption of artificial intelligence and increasing technological enhancements are the key reasons for North America’s dominance. Significant rise in adoption of social media has also contributed in the growth of the global advanced analytics market in North America. Moreover, the presence of well-established infrastructure that supports faster implementation of advanced technologies made this region a key market for the growth of advanced analytics.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Advanced Analytics Market

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