The global operational analytics market size is poised to grow by USD 12.80 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
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Technavio has announced its latest market research report titled global operational analytics market 2019-2023. (Graphic: Business Wire)
Organizations face multiple challenges while sorting and finalizing the data collected from multiple sources such as mobile, sensors, social, or weblogs. Thus, enterprises are increasingly adopting business analytics or business intelligence (BI) software for data analytics. Organizations are implementing BI analytics in the cloud to generate valuable data from third-party sources. The integration of data analytics with cloud-based solutions allow businesses to better manage their data. This will have a significant impact on the growth of the operational analytics market during the forecast period.
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As per Technavio, the growing adoption of AI-based operational analytics will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Operational Analytics Market: Growing Adoption of AI-Based Operational Analytics
Enterprises are focusing on gaining real-time access to the operations data and achieve complete transparency into their operations to make decisions on their day-to-day operations. Thus, enterprises are adopting AI-based operational analytics to automate their decision-making processes. Combining operational analytics with AI enables enterprises to gather and integrate data from all enterprises’ systems, which helps in generating insights from analytics and data-driven decisions for operations. The AI-based operational analytics also helps enterprises to predict events such as customer churn, detect fraudulent activities, or identify customer purchase patterns. Thus, the growing adoption of AI-based operational analytics will drive the growth of the operational analytics market during the forecast period.
"Other factors such as the growing number of acquisitions and partnerships, and the rise in demand for cloud-based operational analytics will have a positive impact on the growth of the operational analytics market during the forecast period," says a senior analyst at Technavio.
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Operational Analytics Market: Segmentation Analysis
This market research report segments the operational analytics market by end-user (manufacturing, telecom and IT, BFSI, transportation, retail, and other end-users) and geography (North America, Europe, APAC, MEA, and South America).
The North American region held the largest share of the market in 2018, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North America is expected to maintain its dominance as well as register the highest incremental growth owing to owing to the rising adoption of cloud-based services, the growing need for regulatory compliance, and the presence of major vendors.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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