With its recently published study on “Advanced Analytics benchmarking The Enterprise Growth- Vendors and End Users Landscape”, Publisher predicts advanced analytics to be the #1 investment priority for the CIO’s in the upcoming years (2016-22). The usage of advanced analytics tools is going to have a big impact on the forthcoming business decisions as a result of inferences drawn from the data silos. As per the study, North America is the leading region in the usage of advanced analytics followed by Asia pacific and Europe. Witnessing a wide adoption of advanced analytics across various sectors, “Advanced Analytics market is expected to grow at 26.80% annually for the period of 2016-2022.”
If we analyze the market by each verticals, the major share of Advanced Analytics comes from IT & Telecom (32%), followed by Healthcare and BFSI (21%). The growth in each of the verticals has led to the overall growth of Advanced Analytics market with the global BFSI analytics market predicted to reach $23.8 Billion by 2022 from $5.1 Billion in 2015, at a CAGR of 22.6%.
As per Publisher Four Wall Analysis, Tableau is placed on top of the wall followed by SAS and Microsoft. The Four Wall Analysis concept is based on analyzing the various market players under the four key parameters- Business Strategy, Market Growth, Innovation, and End user survey results. The inference drawn from this analysis defines the relative rating of the players under the category of Emergers, Climbers and Dominions.
Research Analyst @Publisher quoted: -“The unique geographical region no longer matters in global competition and even the proprietary technologies can be reengineered in no time. What is left, is to maximize business through leveraging data and insights. Businesses need answers to what will happen in future and advanced analytics can give those insights. This seems to reflect in 72.4% of global users’ belief in Predictive analytics. By end of 2016 the Predictive analytics market will alone be close to $3 billion. We have also come up with a new model called “Publisher Four Wall” to provide competitive rating of players in the market through analysis. This model will be updated on yearly basis and we plan to come up with four such reports each year.”
“In Coming years, there is going to be a plethora of players in Advanced Analytics field and with it lots of innovation and challenges. Most of these minor companies will be acquired by prominent ones. As per the analysis, the technology or solutions to watch for will be Microsoft’s Cortana Analytics and IBM Watson Analytics.” - Research Analyst
“Advance analytics is the new lens of business intelligence which empowers the decision flexibility and magnifies the business opportunities. Its multidimensional functions can be broadly classified into three parameters Analyze, Formulate and Forecast.” - Research Analyst
The report aims to highlight key insights from end users along with their pain points. The report provides an in-depth analysis and forecast about the industry covering the following key features:
-This report not only highlights users’ conundrum (Challenges and barriers to adopt advanced analytics) but also brings in their perspective on the Advanced Analytics market. This market has been analyzed by taking into account the key regions- American Continent, Europe, Asia Pacific, and Middle East & Africa. The top 5 verticals covered are BFSI, IT & Telecom, Healthcare & Lifesciences, Manufacturing & Automotive, and Retail.
-Analyst have rated top 10 vendors Vis a Vis end user inputs on key factors.
-Competitive benchmarking analysis to optimize short term and long term strategy of the organizations.
-Stakeholders’ insights and key trends (current and future) of the market.