Press release
Business Intelligence and Analytics Platforms Market Importance, Segmentations, Gross Margin and Segment Forecasts 2020-2028
Business Intelligence and Analytics Platforms Market
Business Intelligence (BI) reports are prepared in real time to aid businesses to take accurate and fast data-backed decisions. These platforms generally deliver easy to comprehend visualizations, including graphs, charts, and tabular data presentations. Moreover, certain business intelligence and analytics platforms generate interactive reports to enable users to switch between different variables to derive a better understanding of key business metrics.
Customer satisfaction is significant to a business profitability and surge in requirement to identify key metric necessary to improve customer loyalty is driving business intelligence and analytics platforms market revenue growth. BI platforms help enterprises to understand customer patterns and behaviors and gain access to real-time customer feedback that can be leveraged to reduce attrition/churn, as well as acquire new customers. Moreover, BI and analytics tools help businesses to analyze needs of customers and devise novel means of delivering improved services by making required changes.
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Key Players operating in the industry are:
Microsoft Corporation, SAS Institute Inc., IBM Corporation, MicroStartegy Inc., Tableau Software LLC, Tibco Software Inc., Oracle Corporation, QlikTech International AB, SAP SE, and Hitachi Vantara Corporation, Others
Some Key Highlights from the Report
In January 2021, Information Builders, Inc. was acquired by Tibco Software Inc., a leading market player. The acquisition was intended to add data management and analytics competences of Information Builders to the Connected Intelligence platform of Tibco software.
By platform type, advanced & predictive analytics platform segment contributed to a significant revenue share in 2020. Predictive analytics is widely deployed in finance and insurance industry to generate reliable and precise visualization of customer data to aid with effective business decision making. For instance, advanced analytics is used to determine credit scores to ascertain creditworthiness of consumer and in turn, decreased risks to business. Moreover, analyzing customer buying pattern and responses is essential in devising marketing strategies, and predictive analytics can be used to analyze data to recognize new market opportunities.
By industry vertical, retail segment contributed to largest revenue share in 2020. Business intelligence and analytics platforms help retail firms to stay updated with prevailing market dynamics and gain detailed insights about how actual outcomes appear as compared to planned revenue by product, location, store, region, and several other factors. These platforms help retail firms in product cost optimization by determining influence of factors such as hours of operations, hiring, and adequate resource allocation, on revenue.
Business intelligence and analytics platforms market in North America accounted for largest revenue share in 2020, due to high adoption of advanced technologies and increased investment by companies in end-use industries, such as retail, BFSI, and Telecom & IT on business intelligence tools & software. Additionally, presence of leading market players such as Microsoft Corporation, Tableau Software LLC, and Oracle Corporation are causative of market revenue growth in North America.
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Emergen Research has segmented the global business intelligence and analytics platforms market on the basis of platform type, organization size, mode of deployment, industry vertical, and region:
Platform Type Outlook (Revenue, USD Billion; 2018-2028)
Business Intelligence Platforms
Advanced & Predictive Analytics Platforms
Corporate Performance Management (CPM) Suite
Others
Organization Size Outlook (Revenue, USD Billion; 2018-2028)
Large Enterprise
Small & Medium Sized Enterprises
Mode of Deployment Outlook (Revenue, USD Billion; 2018-2028)
Cloud-based
On-Premises
Industry Vertical Outlook (Revenue, USD Billion; 2018-2028)
BFSI
IT & Telecom
Retail
Healthcare
Government
Manufacturing
Energy
Media & Entertainment
Education
Others
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Regional Outlook (Revenue, USD Billion; 2018-2028)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Sweden
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Israel
Rest of MEA
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Key Benefits of Buying the Global Business Intelligence and Analytics Platforms Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Business Intelligence and Analytics Platforms Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Business Intelligence and Analytics Platforms Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Business Intelligence and Analytics Platforms Market
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