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Global Embedded Analytics Market Size, Share, Future Prospects and Forecast 2020-2026
The global embedded analytics market is anticipated to exhibit a considerable CAGR during the forecast period (2020-2026). Embedded analytics is the integration of business intelligence tools and capabilities within business process applications including enterprise resource planning (ERP), marketing automation, and customer relationship management (CRM) among others. To improve the information management effectively organizations form multiple industries such as healthcare, banking & financial services, energy & utilities, IT services, and manufacturing industries are implementing the embedded analytics software in their business.
Analytics functionality embedded within business software includes dashboards and data visualizations, benchmarking, static and interactive reports, mobile reporting, self-service analytics, and ad hoc querying, predictive analytics, visual workflows, and so on. Proper data visualization is way more superior to the raw data, which is driving the embedded analytics market in the business sector. The above functionality of the embedded analytics provides relevant information to the user to perform his everyday decision making more efficiently.
Several researchers have discovered a potential connection between robust data management strategy and companies’ financial performance. This enables businesses to reach the market faster with products and services that are efficiently associated with customer needs. Thus, the increasing presence of big data in the businesses is creating huge opportunities for the growth of the global embedded analytics market. In today’s competitive business environment, more and more businesses are likely to use these solutions in order to enhance the experience of their customers by tracking the social media activities of their targeted customers. Moreover, the businesses are deploying these platforms to perform sales and marketing management to get competitive intelligence over their competitors.
IBM Corp., Microsoft Corp., SAP SE, SAS Institute Inc., MicroStrategy Inc., Oracle Corp., Tableau Software, TIBCO Software (Vista Equity Partners), Birst, Inc. (Infor Inc.), Logi Analytics, Inc., and so on. are the key players operating in the embedded analytics market. These players are actively adopting different growth strategies such as mergers & acquisitions, partnerships, collaboration, and new product launches among others to remain competitive in the marketplace.
Recent Developments in Market
In June 2020, Logi Analytics, Inc. had released a new innovation, Logi Composer to its logi analytics platform. Logi Composer is designed and built with software development teams to offer the first out-of-the-box development experience for embedded analytics.
Global Embedded Analytics Market Segmentation
By Deployment Type
Cloud-Based
On-Premises
By End-User
BFSI
IT and Telecomm
Retail
Energy and Utilities
Manufacturing
Healthcare
Others
Global Embedded Analytics Market – Segment by Region
Orion Market Research (OMR) is a market research and consulting company known for its crisp and concise reports. The company is equipped with an experienced team of analysts and consultants. OMR offers quality syndicated research reports, customized research reports, consulting and other research-based services.
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