Business analytics software conducts predictive analysis to derive decision-making inputs and insights through the application of statistical tools and methods in business performance data. It analyzes business data and information through continuous investigation and exploration of historical business performance to obtain decisive insights for business planning.
A business analytics software helps an organization to optimize business operations and facilitates strategic decision-making. The outputs are mostly used by financial analysts, managers, security personnel, and key decision-makers of organizations. The.
The growth of the global market is driven by increase in adoption of business analytics software by many organizations and surge in demand for cloud-based business analytics software among small- & medium-sized enterprises due to its low cost and enhanced usability. In addition, ability of business analytics software to deliver better and faster decision-making and to provide competitive advantage by analyzing & acting upon information in a timely manner propel the growth of the market.
However, budget constraints in small- & medium-sized businesses to provide effective data warehousing and lack of skilled workforce limit the growth of this market. Emerging trends such as social media analytics and increase in need to gain insights for business planning are expected to provide numerous opportunities for the market.
The global business analytics software market is segmented on the basis of end user, deployment model, and application. By end user, the market is categorized into information & BFSI, media & entertainment, energy & power, government, manufacturing, and others. Based on deployment model, it is classified into on-demand/cloud and on-premise. The applications covered in the study include workforce analytics, supply chain analytics, spatial analytics, marketing analytics, pricing analytics, behavioral analytics, risk & credit analytics, transportation analytics, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The global business analytics software market is dominated by key players such as Oracle Corporation, SAS Institute Inc., SAP SE, International Business Machines (IBM) Corporation, Microsoft Corporation, Adobe Systems Software Ireland Ltd., Tableau Software., Salesforce.com, Inc., QlikTech International AB, and Fair Isaac Corporation.
- The study provides an in-depth analysis of the global business analytics software market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2017 to 2023 is provided to determine the market potential.
Business Analytics Software Market Key Segment:
By End User
- Media & Entertainment
- Energy & Power
By Deployment Model
- Workforce Analytics
- Supply Chain Analytics
- Spatial Analytics
- Marketing Analytics
- Pricing Analytics
- Behavioral Analytics
- Risk & Credit Analytics
- Transportation Analytics
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Oracle Corporation
- SAS Institute Inc.
- SAP SE
- International Business Machines (IBM) Corporation
- Microsoft Corporation
- Adobe Systems Software Ireland Ltd.
- Tableau Software.
- Salesforce.com, Inc.
- QlikTech International AB
- Fair Isaac Corporation