The global BPO business analytics market analyst says businesses need a robust platform with the growing adoption of both big data and cloud computing technologies that deliver value at enterprise-scale levels. SaaS has led to the increased adoption of business analytics solutions. It has advantages over business analytics software and allows establishing synergy between the cloud and business analytics.
Complete report on BPO business analytics market spread across 84 pages, analyzing 6 major companies and providing 21 data exhibits is now available at:
Market Outlook of BPO Business Analytics Market
The analysts forecast global BPO business analytics market to grow at a CAGR of 37.42% during the period 2016-2020. The need to achieve operational efficiency and regulatory compliance is a key growth driver for this market. Decision makers worldwide are under tremendous pressure to optimize their business operations, acquire new customers, and increase their market share, thereby driving long-term profitability. Business analytics is used for strategic decision making, enabling organizations to understand their customers, optimize operational cost, and improve business efficiency and competitiveness. The demand for regulatory compliance and transparency is high across sectors such as BFSI and healthcare. Enterprises in these sectors need to comply with regulatory norms such as Basel III and Solvency II. Business analytics outsourcing helps enterprises addresses such compliance requirements by increasing their transparency.
The adoption of systems such as ERP, CRM, SCM, and SFA by enterprises and the industrial Internet revolution have led to the generation of large volumes of data. Moreover, with the increased adoption of big data, the use of business analytics has also surged with a greater need to understand data. Data analytics tools and technologies help derive powerful insights and make efficient use of big data. This helps organizations make strategic decisions based on actionable insights for their business activities.
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End User Segmentation and Analysis of the BPO Business Analytics Market – BFSI, Manufacturing, Healthcare, Retail, Telecom and Others
The BFSI end user segment led the market during 2015, accounting for a market share of more than 25%. BFSI organizations worldwide are reaping benefits of business analytics to enhance business productivity and gain competitive advantage. The generation of large volumes of transactional data in this segment is driving the demand for business analytics. Moreover, the growing need to comply with regulatory norms and make them more transparent has propelled the demand for analytics in the BFSI sector.
Competitive Landscape and Key Vendors
The global BPO business analytics market is highly fragmented with the presence of large and small players. The market is extremely competitive with vendors competing to gain a greater market share. Players in the market are constantly looking for ways to increase their market share through mergers and acquisitions and partnerships. They are also focusing on differentiating themselves by offering mobile-enabled business analytics solutions, predictive analytics, and cloud-based business analytics services. This research report expects the competition in the market to intensify as large players increase their global footprint.
The key vendors analyzed in BPO business analytics market are Accenture, Capgemini, Genpact, IBM, and TCS.
Other prominent vendors in the market include Absolutdata, Aegis, CGI, Chainalytics, Cognizant, Dell, Dunnhumby, EXL Service, Fractal Analytics, HP, Infosys, Minacs, Mu Sigma, Neeyamo, Opera Solutions, Tech Mahindra, Wipro, and WNS Global.
Further, the BPO business analytics market report states that privacy concerns and data security are major challenges in any organization as business data are critical.
Another related report on Analytics is Global Retail Analytics Market 2016-2020, the analysts forecast global retail analytics market to grow at a CAGR of 20.59% during the period 2016-2020.
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Key players in the global retail analytics market: Angoss Software, Experian, IBM, Microsoft, Oracle, SAP and SAS institute
Other prominent vendors in the market are: Adobe, Information Builders, Infor, MicroStrategy, QlikTech, Tableau and Tibco Software
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