The global business analytics market is anticipated to grow at a CAGR of 10.1% during the forecast period. Business analytics tool includes a variety of application software that captures quantitative and qualitative data to enable smarter decision-making. Most companies leverage business analytics software to know a holistic overview of key insights of their companies which aids to improve efficiency, productivity, and profitability. Thus, the increasing adoption of business analytics software is accelerating market growth.
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Furthermore, the growing requirement for customer analytics coupled with increasing big data trends due to changing customer demand and changing business environment is pushing business analytics players to come up with an innovation that is supporting the market growth during the forecast period. For instance, in November 2021, Oracle announced a new cloud analytics solution that gives insights to supply chain & manufacturing customers such as the need to detect, understand, and resolve issues faster throughout the supply chain. Oracle business cloud analytics delivers pre-built metrics and dashboards that are ready to use from day one and leverages machine learning to help businesses and supply chain leaders control costs, reduce risks, ensure customer satisfaction, and drive revenue.
In December 2020, Oracle extended the availability of a cloud-based MySQL database service with a new analytics engine that can perform transaction processing and business analysis tasks within the same database system. The software offers a high-performance, lower-cost alternative to competing systems such as the AWS RDS database and Redshift cloud data warehouse, Google Cloud SQL, and Microsoft Azure SQL Database. The MySQL database is widely used for online transaction processing (OLTP) applications, managing data generated by retail, financial, and other operational applications. Thus, the launch of new offerings in the business analytics market is further propelling the market growth during the forecast period.
Global Business Analytics Market Report Segment
By Component
- Software
- Services
By Deployment
- Cloud
- On-Premise
By Application
- Customer Analytics
- Supply Chain Analytics
- Marketing Analytics
- Pricing Analytics
- Risk and Credit Analytics
- Others
By End-Users
- BFSI
- Government
- Retail
- Healthcare
- Media & Entertainment
- IT & Telecom
- Others
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Business Analytics Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Adobe Inc.
- Cloudability, Inc.
- Densify, Inc.
- Domo, Inc.
- Fair Isaac Corp.
- Google LLC
- IBM Corp.
- Infor
- Looker Data Sciences, Inc.
- Microsoft Corp.
- MicroStrategy Inc.
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