Business Analytics Market 2020 Technology Advancement and Future Scope 2025

business analytics

Business Analytics market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2020 to 2025 are profiled in this report.

The Business Analytics Market was valued at USD 67.92 billion in 2019and is expected to reach USD 103.65 billion by 2025, at a CAGR of 7.3% over the forecast period 2020- 2025.

The Business Analytics market is highly competitive and consists of a number of major players: Oracle Corporation, IBM Corporation, SAP SE, Microsoft Corporation, Tibco Software, Inc., SAS Institute, Inc., Infor, Inc., Microstrategy Incorporated, QLIK Technologies, Inc., Salesforce.com Inc. (Tableau Software Inc.) and Others

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Scope of the Report

Business analytics refers to the skills, technologies, practices for continuous iterative exploration, and investigation of past business performance to gain insight and drive business planning. Business analytics software is being used by companies for query reporting and analysis tools, advanced and predictive analytics, location intelligence, content analytics, data warehousing platform, and enterprise performance management.

Key Market Trends

Healthcare Sector Accounts for a Significant Share in the Market

– With more fiscal and regulatory pressure than ever before, healthcare providers are rethinking how they can operate and create new systems to make care more cost-effective. In this regard, business analytics can go a long way in helping clinics, hospitals, and medical practices discover new ways to streamline operations.
– The Healthcare Information and Management Systems Society (HIMSS) led a study that shows a 6% increase in the number of organizations using clinical and business intelligence (C&BI) since 2013.
– Moreover, with the implementation of the Health Information Technology for Economic and Clinical Health (HITECH) Act, Electronic Medical Records (EMRs) have become mandatory, and the adoption has risen to more than 90% of healthcare providers.
– Business analytics can be utilized to improve almost any aspect of healthcare operations. For instance, by analyzing patterns in emergency-room care, hospitals can refine their staffing strategies, determining how many nurses may be required during different shifts.
– For Philips Group, health monitoring and analytics accounted for the majority of the sales of healthcare informatics. Furthermore, 52% of the providers are using their EMR/HIS (Hospital Information Services) vendor for C&BI. With this increase in healthcare informatics and EMRs, business analytics in the industry is expected to have significant growth potential.

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North America to Lead the Market

– Along with mobile, social, and cloud, analytics and associated data technologies have risen to become one of the core disruptors of the digital era. Over the past few years, major organizations in the region have transitioned from traditional data management approach toward a business-driven data approach.
– The emergence of agile processing models enabled the same instance of data to support batch analytics, interactive analytics, global messaging, database, and file-based models in different types of organizations in the United States.
– Recently, the Mount Sinai Medical Center in Miami Beach was able to determine that it was overpaying for pacemakers for cardiovascular care and was able to negotiate a better price with the supplier by leveraging business analytics.
– Using global positioning data and other related metrics, emergency medical services (EMS) providers have been able to improve response time. Jersey City Medical EMS was able to cut its average response time to less than six minutes by using business analytics.

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What are the market factors that are explained in the report?

–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

–Analytical Tools: Business Analytics Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

The research includes historic data from 2025 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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