The global operational analytics market is predicted to surpass USD 11 billion at 15% CAGR over the estimated years (2018-2023). Operational analytics simply put is a technological device for industries to improve their efficiency by boosting transactions, increasing competitive spirit, augmenting decision-making capacities and eliminate the risk of fraudulent processes. Analytical techniques utilize tools such as aggregation, mining and data extraction for churning out useful information from raw data. Some of the key benefits of using operational analytics include increased profits, better decision making, competitive advantage, customer satisfaction, streamlining data, holistic operations and better employee engagement.
There are ample factors that is boosting the growth of the operational analytics market. These factors as stated by the Market Research Future (MRFR) report include network and security management, real time log analytics, business infrastructure management, data security and seamless business integration. The additional factors that are fueling the market growth include limited cross organizational changes, decrease in cost inefficiencies, increasing consumer driven analysis, demographic connectivity, timely and meaningful decisions, valuable based insights, growing number of data centers for gathering inner data to analyze the performance of marketing data, growing utilization of mobile devices and increased IT operations data. On the contrary, complex analytical processes, organizational change, maintaining data privacy and confidentiality amid organizations, implementation of operational analytics in SMEs (small and medium enterprises) with lack of effective data management services, insufficient skilled technical experts, secure data sharing and easy data availability are factors that may hinder the growth of the operational analytics market over the estimated years.
Growth Drivers and Key Barriers
Operational intelligence market facilitates automation of the decision-making process, thus improving decision making, enhancing market responses, and also reducing process delays. Operational intelligence solutions are used by organizations strategically for upgrading business processes and also enhance their performance. Moreover, OI supports automation of data delivery and operational data collection, which consequently enhances the visibility of performance and brings down the operating costs of the overall process.
Increasing adoption of big data as well as artificial intelligence in different industries, given the rising need for operational efficiency and accelerated demand for centralized control and monitoring systems, has benefited the operational intelligent market. Some additional factors working in favor of the market include rising complexity of manufacturing process, advancement in technology, surge in adoption of operational intelligence in the financial sector. The escalating demand for real-time remote monitoring of various industrial activities also stimulates market growth.
Rising automation in industrial sectors in a bid to prevent mishaps and offer safety of employees and products results in growth of the operational intelligent market. But, lack of infrastructure and skilled professionals could work against the operational intelligent market in the near future. Having said that, evolving operational intelligent systems platform coupled with burgeoning amount of machine generated data is bound to offer a host of opportunities for the operational intelligent systems market to expand in the following years.
More Information@
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Reports (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research and Consulting Services.
Contact:
Market Research Future
+1 646 845 9312
Email: [email protected]
Operational Analytics MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Operational Analytics Market .
The growth sectors of the Operational Analytics Market are identified with precision for a better growth perspective.The global operational analytics market is predicted to surpass USD 11 billion at 15% CAGR over the estimated years (2018-2023).
Operational analytics simply put is a technological device for industries to improve their efficiency by boosting transactions, increasing competitive spirit, augmenting decision-making capacities and eliminate the risk of fraudulent processes.
Analytical techniques utilize tools such as aggregation, mining and data extraction for churning out useful information from raw data.
Some of the key benefits of using operational analytics include increased profits, better decision making, competitive advantage, customer satisfaction, streamlining data, holistic operations and better employee engagement.There are ample factors that is boosting the growth of the operational analytics market.
These factors as stated by the Market Research Future (MRFR) report include network and security management, real time log analytics, business infrastructure management, data security and seamless business integration.
Operational Analytics Market A new market study, titled “Operational Analytics Market ” has been featured on Market Research Future.The global operational analytics market is predicted to surpass USD 11 billion at 15% CAGR over the estimated years (2018-2023).
Operational analytics simply put is a technological device for industries to improve their efficiency by boosting transactions, increasing competitive spirit, augmenting decision-making capacities and eliminate the risk of fraudulent processes.
Some of the key benefits of using operational analytics include increased profits, better decision making, competitive advantage, customer satisfaction, streamlining data, holistic operations and better employee engagement.
The additional factors that are fueling the market growth include limited cross organizational changes, decrease in cost inefficiencies, increasing consumer driven analysis, demographic connectivity, timely and meaningful decisions, valuable based insights, growing number of data centers for gathering inner data to analyze the performance of marketing data, growing utilization of mobile devices and increased IT operations data.
On the contrary, complex analytical processes, organizational change, maintaining data privacy and confidentiality amid organizations, implementation of operational analytics in SMEs (small and medium enterprises) with lack of effective data management services, insufficient skilled technical experts, secure data sharing and easy data availability are factors that may hinder the growth of the operational analytics market over the estimated years.
Based on application, the operational analytics market is segmented into sales and marketing management, customer management, workforce management, supply chain management, fraud detection, risk management, predictive asset maintenance and others.
Use your data assets and programs with our advanced operational analytics solutions to gain actionable and impactful insights to achieve operational excellence.
Global IT operation analytics Market Research Report: By Technology (Visual Analytics, Machine-Based Learning, Predictive Analytics, User-Behavior Analytics, Root-Cause Analytics), Organization Size, by Deployment, Application, Vertical – Forecast till 2027Market HighlightsIT operation analytics assists in improving operations by gathering data from various processes for predicting potential issues and enhancing decision-making.
It allows clients in focusing their efforts and reducing the time to solve problems.
The global IT operation analytics market report by Market Research Future (MRFR) comprises drivers, challenges, opportunities, and trends for the period of 2017 to 2023 (forecast period).
The sudden outbreak of the COVID-19 virus and its impact on the industry are noted in the report.Market ScopeThe global IT operation analytics market is expected to grow at a CAGR of approximately 39% during the forecast period.The large data accumulated owing to internet of things based devices, data management strategies, need for process control and optimization, and focus on gaining the edge in the competition are major drivers of the market.
Operational analytics can focus their efforts in pinpointing the problem and solving it at a rapid pace.The trends of bring-your-own-devices (BYOD) and internet of things (IoT) and consulting services by professionals owing to IT operational analytics among large organizations can bode well for the market.
The global market size can touch USD 26 billion by 2027 owing to being employed by organizations for measuring key performance metrics.
