The transformative shift from a deterministic perspective to a probabilistic perspective laid the foundation for data analysis. Every company is looking out for opportunities to turn more profit, to maximize business metrics, an ....see more
In today’s data driven world, one of the biggest challenges for the companies is to manage the rapidly generating, voluminous data. Along with this, the ever-increasing business demand for maximum flexibility of resources and the inevitable advancement of big data are encouraging the enterprises to adopt the predictive analytics model. It empowers an organization to identify untapped opportunities and expose hidden risks buried inside enormous amounts of data. With the availability of predictive insights to everyone in the organization, organizations are empowered to make the right choices at the right time and shape their future in a positive way.
MarketsandMarkets forecast the workforce analytics market size to grow from USD 422.5 Million in 2015 to USD 860.4 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 15.3% from 2015 to 2020. The increasing complexities at workplaces have necessitated the shift from traditional ways of managing workforce to the computerized ways of handling workforce functions for attaining higher efficiencies. The increasing competition also demands for efficient business operations across every organization domain, which can be achieved by managing the workforce that is ultimately responsible for every business activity within an organization. Thus, workforce analytics is changing the ways of streamlining human resources through greater analytical insights.
The insurance telematics market size is expected to grow from USD 857.2 Million in 2015 to USD 2.21 Billion in 2020, at a Compound Annual Growth Rate (CAGR) of 20.9%. Decreasing cost of connectivity solutions, increase in regulatory compliance and regulations, consumer’s interest for in-car connectivity, and rise in smartphone penetration are driving the insurance telematics market.
The mobile analytics market is broadly classified into types, such as mobile advertisement and marketing analytics, in-app behavioral analytics, application performance analytics, and others. Global mobile ad spending is experiencing exponential growth and this enables the surge in the mobile analytics solutions demand. The global mobile analytics market is expected to grow from USD 1.36 Billion in 2015 to USD 4.12 Billion by 2020, at a Compound Annual Growth Rate (CAGR) of 24.73%.
Business intelligence and analytics software has rapidly gained traction in the market and is considered to be the fastest growing industry in IT. Organizations are in dire need of tools that streamline their business process by quickly analyzing, optimizing, and managing the exponential increase in data. The global Business Intelligence Software Market is expected to grow from $17.90 Billion in 2015 to $26.78 Billion by 2020, at an estimated Compound Annual Growth Rate (CAGR) of 8.4%. The global BI and analytics software market is expected to exhibit a Y-O-Y growth rate of 5.61% for the period 2014-2015.
The CRM analytics market is segmented by type: marketing analytics, sales analytics, contact-center analytics, customer analytics, web & social analytics; by vertical: BFSI, retail & consumer goods, telecommunications & IT, healthcare & life sciences, manufacturing, energy & utility, media & entertainment, travel & transport, and others; by end user: SMBs and large enterprise; by deployment: On-Premises, Cloud; by region: NA, APAC, Europe, LA, and MEA. The global CRM analytics market is expected to grow from $4.18 billion in 2014 to $7.65 billion by 2019, at an estimated Compound Annual Growth Rate (CAGR) of 12.83% from 2014 to 2019.
Today, organizations are operating in a vibrant business environment, and thus face dynamic changes in customer demands. The companies want to deep dive into, not only the current information related to their customers, products, services and business process, but they also want to draw insights from the historical data related to their past performances and learn about previous trends and pattern. Thus, there has been a substantial adoption of business analytics software and solutions among various industries for analyzing such trends and unfold new business opportunities and formulate strategies based on new insights. The overall business analytics market size is expected to grow from $40,814.6 million in 2014 to $66,719.8 million in 2019, at an estimated CAGR of 10.3%.
Smart Grid Analytics Market categorizes the Global Market by Solution as AMI Analytics, Demand Response Analytics, Asset Management, Grid Optimization, Energy Data Forecasting/Load Forecasting and Visualization Tools & by geography.
Marketing analytics comprises the process and technologies that enable marketers to evaluate the success of their marketing efforts. It is a practice of measuring, managing, controlling and analyzing the marketing performance in order to maximize the effectiveness and optimize the Return on Investment (ROI). The global marketing analytics software market to grow from $1.20 billion in 2014 to $2.10 billion by 2019.
The global oil and gas industry is at a crossroad over the depleting oil and gas reserves worldwide. New challenges arise and are addressed through conventional technologies. The rising global demand for fuel, increasing competition, financial capital and public scrutiny and regulations are a few of the severe challenges faced today.
The multichannel analytics market is expected to grow from $3.61 billion in 2014 to $9.89 billion by 2019 at a Compound Annual Growth Rate (CAGR) of 22.3% from 2014 to 2019. The multichannel analytics solutions collect different data generated from various channels and correlate it to give useful analysis. It is acknowledged as one of the most powerful tools that drives sales and profitability. The customers today have various channels to purchase which makes it necessary for vendors to create content more relevant to interact the customers at all the sources.
Today, large enterprises as well as the Small and Medium businesses (SMBs) rely largely on the digital data gathered through their web portals. This is because of the rising need of the digital marketers, advertisers and publishers to segment their premium buyers from other customers, track the overall website visitor traffic, manage ad campaigns and improve the complete website performance. Website analytics solutions cater to all these requirements and help the enterprises in reforming their business strategies and add to the online sales.