Market synopsis

Operational Analytics is a sub-category of business analytics which focuses on improving business operations of any organization by segregating meaningful information from raw equipment data with the help of data analytics techniques. Analytical techniques use tools such as data extraction, mining, and aggregation to churn out useful information from raw data.

Operational Analytics Market enhances the business operations as it provides quick business insights which helps in finding problem areas and quickly addressing the cause of those problems. Utilization of operational analytics is done to increase the production of the organization by reducing operational costs. Operational analytics also helps in improving business stability and avoiding service outages by identifying trends which predict potential issues and help in their proactive mitigation through sending alerts in some case while some get auto-corrected. The operational analytics market owes its growth to the adoption of emerging technologies such as big data, advanced analytics, and Internet of Things.

The operational analytics market is driven by data-based decision making, which is adopted by industries such as finance, manufacturing, and others as the decisions made on the basis of data are supported by facts and figures from the information obtained from company data. Although the market of operational analytics is growing at a rapid pace, the challenge faced is due to huge and complex data patterns, as the data obtained from equipment could be unstructured or semi-structured or structured which makes it difficult to trace the data pattern.

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Key players

The prominent players in the market of operational analytics are IBM Corporation (US), Oracle Corporation (US), Microsoft Corporation (US), SAS Institute (US), Hewlett Packard Enterprise (US), SAP SE (Germany), Alteryx (US)., Cloudera (US), Bentley Systems (US), Splunk (US) among others.

Industry News

30 October 2017, Vodafone Australia, a global telecom operator, signed an agreement with Splunk Company to centralize and automate their IT monitoring and event management system. The agreement offers machine learning capabilities to IT operation system of Vodafone which helps to overcome the issues related to analysis and data corelation of huge volume of data generated.

5 July 2018, ITRS Groups, a leading real-time service provider of monitoring and IT operations analytics has entered into a partnership with Apica, a leader in enterprise business performance monitoring to deal with operational failures and outages with improved monitoring and testing services.

Segmentation

By type, the market is segmented into service and software.

By business utility, the market is segmented into marketing, sales, finance, human resource, and others.

By application, the market is segmented into predictive asset maintenance, risk management, fraud detection, supply chain management, workforce management, customer management, sales & marketing management, and others.

By deployment type, the market is segmented into on-premise and on-cloud.

By verticals, the market is segmented into government, healthcare, financial services, retail, manufacturing, energy & utilities, transportation & logistics and others.

Regional analysis

The global market for operational analytics is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of operational analytics market is studied for North America, Europe, Asia-Pacific, and the rest of the world.

North America is expected to dominate the operational analytics market during the forecast period owing to early adoption of emerging technologies such as big data analytics, advanced analytics, and others. Also, a majority of players offering operational analytics solution are from this region. High established economies such as US, Canada, and others, invest higher share on research and developments of technologies such as analytics and big data which fuel the growth of operational analytics market in the region.

Following North America, Asia-Pacific is expected to grow at a significant pace due to government policies in support of digitization and industrialization in countries like China, India, and Japan. Furthermore, with the increased adoption of technologies such as big data analytics, Internet of Things and others, the market of operational analytics is expected to grow with the highest CAGR in this region.

The global operational analytics market is expected to grow at a CAGR of 15%, reaching approximately 11 billion by the end of 2023.

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Intended Audience

Associations, Organizations, Forums, And Alliances
Customer Experience Solution Providers
Government Bodies and Departments
Analytics Service Providers
Cloud Service Providers
Technical Universities
Managed Service Providers
Professional Service Providers
Research and Development Companies
Market Research and Consulting Firms
Technology Standards Organizations
Technology Investors

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