Global operational analytics market is set to witness a healthy CAGR of 19.50% in the forecast period of 2020 to 2026. Operational analytics is a more particular word for a form of business analytics that aims to improve current activities. Like others, this form of business analytics includes the use of different data mining and data aggregation instruments to obtain more transparent business planning information.
Operational analytics may be pursued by businesses in several distinct ways. Different software packages will offer different models to show what's going on in a business, in real time or over a specific time frame. Many of these instruments will make visual models available.
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Major Market Players
Few of the major competitors currently working in the global operational analytics market are IBM Corporation, Oracle, Microsoft, SAS Institute Inc., Hewlett Packard Enterprise Development LP, SAP SE, ALTERYX, INC., Cloudera, Inc., BENTLEY SYSTEMS, INCORPORATED, Splunk Inc., Cisco Systems, Inc., Evolven Software, Appnomic, Apptio, Inc., BAY DYNAMICS, BMC Software, Inc., VMware, Inc, ContinuitySoftware, ExtraHop Networks and others.
Segmentation: Global Operational Analytics Market
- By Type (Software, Service)
- By Service (Managed Services, Professional Services)
- By Business Function (Information Technology, Marketing, Sales, Finance, Human Resources, Others)
- By Application (Predictive Asset Maintenance, Risk Management, Fraud Detection, Supply Chain Management, Customer Management, Workforce Management, Sales and Marketing Management, Others)
- By Deployment Model (On-premises, Hosted/on-cloud), Industry Vertical (Telecommunication, Retail and Consumer Goods, Manufacturing, Government and Defense, Energy and Utilities, Transportation and Logistics, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Competitive Analysis
Global operational analytics market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of operational analytics market for Global, Europe, North America, Asia Pacific and South America.
Market Drivers:
- Market is driven by data-based decision making, which is adopted by industries such as finance, manufacturing, and others
- Increasing production of the organization by reducing operational costs due to operational analytics
- Data explosion due to emergence of IoT-enabled technologies is driving the growth of market
- Adoption of advanced data management strategies
Market Restraints:
- Frequent operational changes in IT organizations is restraining the growth of the market
- Complex analytical processes are expected to limit the market growth.
- Operational analytics requires continuous ingestion of variety of data which result in large data volumes
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Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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Related Reports:
Operational Analytics MarketThe 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.There are ample factors that is boosting the growth of the operational analytics market.
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 BarriersOperational 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.
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.
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.
