Regression Analysis Tool: Introduction
- Regression analysis can be used to statistically estimate the relationship between several variables by finding a curve or line that best fits the specified variable. The analysis is used to predict real outcomes and to understand the relationship between variables.
- Regression analysis comprises some variations, such as multiple linear, linear, and nonlinear. The most common models are multiple linear and simple linear. Nonlinear regression analysis is often used for more complex data sets where the dependent and independent variables have a nonlinear relationship.
- The process of performing a regression analysis helps to surely determine which factors can be ignored, which are most important, and how these factors affect each other.
- Regression analysis tools help to examine the relationships between two variables based on a sample and provide an equation for a chart that is used to predict trends in data.
- In statistics, it is very difficult to understand random numbers in a table; in this case, regression analysis tools can help to make a better prediction using an equation.
- Regression analysis is a useful statistical technique that an organization can use to determine the degree to which certain independent variables affect dependent variables. The possible scenarios for performing regression analysis to generate actionable and valuable business insights are endless.
- The global regression analysis tool market is expected to grow during the forecast period as these tools provide detailed information that can also be used to improve products and services.
Global Regression Analysis Tool Market: Dynamics
Global Regression Analysis Tool Market: Key Drivers
- In several cases, it is necessary to use regression analysis tools in the field of biomedical signal processing to assess the suitability of parameterization techniques to predict and quantify the health status of the subject, which is analyzed on selected rating scales to assess the severity of a disease. This is one of the main drivers for the growth of the regression analysis tool market.
- Results of a regression analysis tool are more reliable and precise for decision making; so the high accurateness of the result is one of the main factors that drives the market.
- The regression analysis tool eliminates time-consuming and tedious processes because it eliminates the need to run the same tests over and over again. This again drives the market.
- However, as products are updated, testing becomes rather complex, as even a small change can cause unexpected problems in the existing functionality. This can restrain the growth of the regression analysis tool market.
Impact of COVID-19 on the Global Regression Analysis Tool Market
- The increase in COVID-19 cases worldwide is causing a financial slowdown and millions of people are working from home for the first time during the epidemic. This is likely to change the traditional corporate culture. Therefore, demand for digital or cloud-based solutions and the use of regression analysis tools is increasing in every sector.
- Thus, COVID-19 has a positive impact on the regression analysis tool market and is projected to propel the market in the next few years.
North America to Hold Major Share of the Global Regression Analysis Tool Market
- The global regression analysis tool market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America is expected to have the major share of the regression analysis tool market during the forecast period due to the local presence of regression analysis software and services.
- Technological advances in analytics and cloud in the European region have resulted in strong adoption of the regression analysis tool in the region, which is expected to significantly boost the regression analysis tool market in Europe.
- The Asia Pacific market is rising rapidly due to the increasing adoption of advanced technologies, steady economic growth, and smart city projects.
Global Regression Analysis Tool Market: Competition Landscape
- Various key players such as MathWorks Inc., and SAS Institute Inc. are active in the regression analysis tool market.
- In June 2017, CAMO Software AS declared a universal partnership with Metrohm's AG, a supplier of precision instruments. Metrohm's Vision Air 2.0 software supports forecast models that were created with the Unscrambler X software from CAMO's and offers a convenient import and export function to enable sample analysis and measurements to be carried out in the Metrohm's Vision Air software.
- SAS comprises accurate techniques for small data sets, modern approaches for analyzing data with missing values, and powerful statistical modeling tools for large data tasks.
Key players operating in the global regression analysis tool market include:
- MathWorks, Inc.
- International Business Machines Corp. (IBM)
- SAS Institute Inc.
- StataCorp LLC
- Minitab Inc.
- GraphPad Software Inc.
- Lumina Decision Systems
- TIBCO Software Inc.
- QlikTech International AB
Global Regression Analysis Tool Market: Research Scope
Global Regression Analysis Tool Market, by Component
Global Regression Analysis Tool Market, by Deployment
Global Regression Analysis Tool Market, by Type
- Simple Linear Regression
- Multiple Linear Regression
Global Regression Analysis Tool Market, by Enterprise size
- Small & Medium Enterprises
- Large Enterprises
Global Regression Analysis Tool Market, by Application
- Healthcare & Life Sciences
- Media & Entertainment
- Transportation & Logistics
Global Regression Analysis Tool Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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
- 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.