Press release
Data Science Platform Market - Forecast, Demand, Outlook 20 Illuminated by New Report
With more companies recognizing the need for a data science platform – an upcoming technology – its market is slated to grow at a good clip in the near future. A data science platform essentially provides tools to integrate and explore data from different sources and create and implement models. It helps to keep data science work transparent, reproducible, and scalable. A data science platform can be deployed either on-premise or on-demand. The latter is expected to see higher uptake in the near future due to low cost of operation, ease of deployment, and improved scalability and integration.
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A report by Transparency Market Research offers essential information about the global market for data science platform. It does so by offering essential insights into market dynamics and the extent to which they impact the growth of the market. It also presents a granular analysis of the factors promoting or hindering it. Further, the report profiles leading companies in the market and discusses their cost and revenue structure, business strategies, market shares, competitive edge, and operations. Further, the report leverages market-leading analytical tools to gauge the various threats and opportunities awaiting the key players.
Global Data Science Platform Market: Trends and Opportunities
Advanced analytics and predictive modeling have gained traction these days among savvy businesses wanting to strategize carefully to deliver value to customers. However, higher investment in big data and data science hasn’t actually bore fruit for companies in the way it should. The reason: Ineffective data science workflow with data scientists working across many disconnected tools, while trying to manage the humungous data pool, dearth of engineering support, and inability to operationalize their output. A data science platform helps to tackle such challenges by providing tools needed to build, socialize, and deploy data science projects in one place. On account of such advantages, the global market for data science platform is slated to expand at a breakneck pace in the years to come.
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A global data science platform can perform functions such as logistics, marketing, human resources, sales, risk, logistics, customer support, and operations. Logistics, among them, accounts for a leading market share as they allow entities to draw data from numerous sources. Data science platforms have aided organizations to answer business queries with proper inputs arrived at through them. Further, data science platform also helps support effective network planning and network optimization through actionable insights derived from historical data of transportation routes.
Some of the end-use industries resulting in its swift uptake are information and telecom, banking, financial services, and insurance, transportation and logistics, healthcare and life sciences, energy and utilities, media and entertainment, manufacturing, government and defense, retail and consumer goods, and energy and utilities, among others.
Global Data Science Platform Market: Regional Outlook
From a geographical standpoint, North America is a key market on account of the concentration of key market players in the two continents and a large number of savvy organizations who have been quick to adopt new technologies. In the next couple of years, however, Asia Pacific is slated to clock maximum growth because of higher Foreign Direct Investments (FDIs), government policies stoking digitalization, smart city initiatives, and industrialization.
Companies Mentioned in the Report
Some of the noteworthy companies competing in the global market for data science platform, profiled in the report are IBM, Microsoft Corporation, Wolfram, DataRobot Inc., Sense Inc., RapidMiner Inc., Domino Data Lab, Dataiku, Alteryx, Inc., and Continuum Analytics, Inc.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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