Los Angeles, CA -- (SBWIRE) -- 08/01/2019 -- The global life sciences data mining and visualization market is expected to gain growth while riding on the need for advanced methods to process and analyze massive amounts of complex data generated in the life sciences industry. Traditional techniques are making it difficult for life sciences companies to put their vast complex data to good use. Growing requirement of application-specific data with detailed infographics in the life sciences industry is anticipated to augment the demand in the global market.
Launch of technologically sophisticated products and services could be a go-to strategy of most players operating in the global life sciences data mining and visualization market. In July 2019, Hitachi Vantara, a US company unifying Hitachi Insight Group, Hitachi Data Systems, and Pentaho's operations, unveiled the most recent version of its data analytics and integration platform software Pentaho 8.3. The new software supports DataOps across edge-to-multi-cloud environments.
Need for Excellent Diagnosis and Treatment Procedures to Push Demand
Growing application of data mining in the life sciences industry is expected to add to the growth of the global life sciences data mining and visualization market. Life sciences companies use data mining and visualization to help physicians recognize best treatment options and follow effective diagnosis and treatment practices. Data mining and visualization can also help to benefit patients with enhanced and cost-effective healthcare services. Furthermore, life sciences companies are predicted to increase the use of data mining and visualization for improved customer relationship management. Most importantly, data mining and visualization can help life sciences companies to convert complex data into practical and useful information.
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Players to Increase Innovation to Improve Capabilities of Key Products
The authors of the report have profiled key players of the global life sciences data mining and visualization market such as MicroStrategy Inc., Tableau Software, InetSoft Technology Corporation, SAP SE, Pentaho Corporation, SAS Institute Inc., Dundas Data Visualization Inc., Microsoft Corporation, Information Builders, Oracle Corporation, IBM Corporation, and TIBCO Software Inc. With a view to improve their market presence, players are expected to introduce strategic solutions in the global market and focus on innovation.
By Solution Type
? Sales and Marketing
? Operations
? Finance
? Accounting
? HR
? Others
By Delivery Mode
? On-premise
? On-demand
Analysts predict operations and sales and marketing to become prominent segments of the global life sciences data mining and visualization market. This could be due to high preference for these types of life sciences data mining and visualization solutions. Among delivery modes, both on-demand and on-premise are projected to gain significant demand from end users in the coming years.
By Region
North America is prognosticated to take a commanding share of the global life sciences data mining and visualization market, followed by Europe. High presence of life sciences companies in the US could support the increased demand in North America. Adoption of new technologies and increasing significance of the use of data mining tools in the life sciences industry are anticipated to strengthen the market growth of the region. Asia Pacific, on the other hand, is foretold to show faster growth in the global market.
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