Advanced Analytics Market Scenario:
The global advanced analytics market is witnessing the boons of cloud-based technologies and high adoption of artificial intelligence. Information is power and the more one analyzes it, the better predictive results become. This gives an edge to advanced analytics riding on which the global advanced analytics market is expected to achieve a CAGR of USD 22 billion valuation with a CAGR of 15% during the forecast period (2017-2023). Market Research Future (MRFR) in their latest analysis revealed that the advanced analytics market can enjoy several boons that can trigger its advanced analytics market prospects.

Integration of cloud technology is expected to play big in taking the global Advanced Analytics Market ahead. At the same time, big data is also impacting the foundation of the market by gaining momentum. Data is of prime importance for many industries as they have turned customer-centric. These businesses rely primarily on their service to their customers which is why growth banks mostly on data analytics. However, initial setup cost for advanced analytics is high which can be dampening factor.

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Competitive Landscape:
Companies to impact the global advanced analytics market are Oracle Corporation (U.S.), IBM Corporation (U.S.), SAS Institute (U.S.), SAP SE (Germany), Fico (U.S.), Statsoft (U.S.), KNIME AG (Switzerland), Microsoft Corporation (U.S.), Angoss Software Corporation (Canada), and others. These companies have been profiled by MRFR for their latest report on the advanced analytics market. The tactical moves these companies have made are based on an intention to top the market which, subsequently, helps expansion of the advanced analytics market.

In March 2019, Egon Zehnder announced and confirmed their ownership of a part of Switzerland-based Sinequanon, a firm that is known for their extensive impact on AI and advanced analytics. The firm uses its expertise in improving the work culture in offices and enhance the performance of workers. Zehnder’s interest lies mainly in shaping their leadership skills by using the analytics provided by Sinequanon.

Segmentation:
The global advanced analytics market has been segmented in the report made by MRFR on the basis of type and application. This analysis has its focus centered on the details and it has been backed substantially by data collected by esteemed analysts.
Based on the type, the advanced analytics market comprises big data analytics, customer analytics, statistical analysis, visual analytics, social analytics, business analytics, risk analytics, and predictive modeling.

Based on the application, the advanced analytics market includes government & defense, BFSI, consumer goods & retail, IT & telecommunication, transportation & logistics, healthcare, and others. The BFSI application segment includes regulatory reforms, operational efficiency, customer profitability, credit risk analysis, risk management, budgeting & planning, fraud detection & management, and process optimization. The IT and telecommunication application segment consists targeting offer & campaign management, customer profitability analysis, revenue assurance, cell site optimization, network dynamics & congestion control, and social network analysis. The healthcare application segment encompasses predictive modeling, and financial performance & monitoring. Defense health and scenario planning comes under the government & defense segment. The transportation & logistics application segment gets strong grounds by having segments like supply chain planning, inventory optimization, sales & operational planning, and quality lifecycle management. The consumer goods & retail application segment encompasses planning & organization, customer insight, price optimization, merchandize planning, and size optimization.

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Regional Analysis:
North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW) are the four regions that have been included in the report of the advanced analytics market.

North America’s market to witness substantial growth due to the presence of two heavyweights like the U.S. and Canada. These countries are known for their high expenditure and technological integration. The region is also known as the highest revenue generator. Presence of companies like SAS Institute, IBM Corporation, Oracle Corporation, Statsoft and Microsoft are expected to take the market forward by helping in developing sustainable strategies. The region is also reaping benefits of superior technology, sound infrastructure, and high investment.

Digital media is playing a key role in taking the advanced analytics market ahead. Emerging economies in the APAC are expected to focus more on this to gain more. At the same time, digital integration across industries is creating a plus, in terms of production and other support.

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