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.
Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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