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Performance Analytics Market is expected to Grow Due To Large Numbers of Organizations have Started Opt to This Solutions
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Global performance analytics market is expected to grow in the coming years as large numbers of organizations have started to opt for such solutions. These solutions help companies to consistently change and transform their operations to a goal oriented business culture with simple integrated business applications, which can analyses and examine the business performance. Performance analytics solutions are used in various industries such as banking and finance, telecommunication, information technology, healthcare and energy and utilities. The cloud based performance analytics had higher adoption rate as compared to on-premise model, owing to certain associated benefits with the former, such as flexibility, scalability and privacy that are being provided at affordable prices. BFSI was the largest user of performance analytics solutions.
The emergence of advanced vendor offering and growing adoption of cloud based performance analytics are the major trends observed in the market. Considering today’s competitive environment, companies are deploying various performance analytics applications that promote sales and marketing activities in order to help them to gain recognition among consumers and to increase the overall profitability of their business.
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Factors driving the performance analytics market include the growing need of organizations to meet regulations, compliance to deadlines and to generate insights from large volume of data. The performance analytics solutions help organizations in continuous monitoring of their core business activities, and in allocating resources to achieve maximum efficiency. Organizations today are focussing on the adoption of analytical tools that can act proactively against difficulties associated with their business processes and can help in making strategic decisions to overcome these situations. This leads to the further adoption of performance analytics solutions.
Some of the key players operating in the performance analytics market include SAS Institute Inc., IBM Corporation, Oracle Corporation, SAP SE, Optymyze, Siemens AG and Callidus Software Inc.
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