The business analytics and intelligence can be defined as a combination of the two major segments namely the business intelligence and analytics.
Sarasota, FL -- (SBWIRE) -- 05/15/2017 -- Zion Market Research, the market research group announced the analysis report titled "Business Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"
Global Business Analytics Market: Overview
The business analytics and intelligence can be defined as a combination of the two major segments namely the business intelligence and analytics. As the data grows, the business intelligence needs to be more upgraded in order to analyze the data with more details and segregate this huge data into the structured and unstructured form. The business operations are enhanced as the business analytics extract important information and analyze it for the present and future course of actions. In the recent scenario, the companies are demanding for the data-based solution in the real-time scenario.
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Global Business Analytics Market: Segmentation
The market for the business analytics is segmented into its solutions, deployment mode, user type, verticals, and regions. The global market is categorized on the basis of its solutions as query reporting analysis tools, location intelligence, data warehousing platform, advanced and predictive analytics, content analytics and enterprise performance management. On the basis of the deployment mode, the business analytics market is divided into the cloud and on premise. The various types of the global market include large enterprises and small and medium enterprises. The verticals where the business analytics concept is implemented include BFSI, energy and power, healthcare, media and entertainment, education, government, telecom and IT and others. Region-wise, the global business analytics market is diversified into Latin America, North America, Europe, Asia-Pacific and the Middle East and Africa.
Global Business Analytics Market: Growth Factors
Large enterprises usually adopt the business analytics technology within their organization as they have the data support system and have the ability to invest in this business optimizing software. The business analytics have adopted the cloud technology, which is, in turn, fueling the market growth. The other factors that are pushing the market growth are the mobile BI solutions, cloud deployment and the increasing level of competition. The vertical that is largely adopting the business analytic tools is the health industry while the retail and BFSI verticals are capturing a maximum of the market. In the recent years, the organizations are concentrating more on the customer satisfaction but are also focusing on their productivity, thus they are adopting the business analytic tools to sort the day-to-day data from various business activities. The high investment cost for the implementation of the business analytics, the hesitancy in adopting the tools, lack of knowledge and skilled workforce are factors negatively impacting the market growth.
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Global Business Analytics Market: Regional Analysis
The business analytics tools are being widely utilized in the developed regions. The region that has the largest market is North America. This market growth is on the basis of the utilization of the business analytic tools and the investments made in their development is comparatively high in this region. The other regions that are contributing to the business analytics market growth include Europe, Latin America, the Middle East and Africa and Asia Pacific. The Asia Pacific region will gain momentum in the coming years owing to the rapid industrialization in this region.
Global Business Analytics Market: Competitive Players
The key market players in the business analytics market include Actuate Corporation, Alteryx, Inc., Datameer, Inc., ESRI, Inc., IBM, Fico, Host Analytics Inc., MicroStrategy Incorporated, Oracle Corporation, Pentaho Corp., SAP AG, TIBCO Software Inc., Teradata Corporation, Adaptive Insights, Amazon Inc., EMC Corporation, Hewlett-Packard Enterprise, Information Builders, Microsoft Corporation, Panorama Software Inc., QlikTech, Inc., Prognoz, SAS Institute Inc. and Tableau Software, Inc.
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Global Business Analytics Market: Regional Segment Analysis
North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa