Insights Engine Market Volume Forecast and Value Chain Analysis 2017-2027
With the increasing focus of organizations towards predictive data, enterprises are using insights engines to gather and analyze data, as it being able to translate this into customer-centric growth is a distinguishing factor. For implementation and integration of Insights Engine, it requires leadership from the top to ensure that every function, from R&D to marketing to CMI itself, maintains a singular focus on understanding and meeting consumers’ fundamental needs. Insights Engine improves the search experience with proactive data analysis and automatically shows results from the actual search.
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Insights EngineMarket: Drivers and Challenges
The major factor driving the adoption of Insights Engine is increasing use of planning cycle in the organizations. This is the stage wherein resource allocation and budgeting are decided and performance of empl oyees is monitored against goals. The involvement of Insights Engine process within planning, helps in alignment of their activities during the planning cycle and helps to manage various functional areas such as finance, marketing and others in making strategies.
The key challenge restraining the Insights Engine market is the lack of trained personnel who can work on business intelligence tools and predictive analytics tools. Moreover, one cannot completely rely on Insight Engine tools as these tools can also have errors. So it can be risky, if the results from these tools are not checked and verified properly. Other challenges are lack of proper governance and data inconsistency.
Insights Engine Market: Segmentation
Segmentation on the basis of Industry:
Insights Engine is used by various industries to speed up workflow and to improve qualitative work processes.
Retail and Consumer Goods
IT & Telecom
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In Insights Engine market there are many vendors some of them are MindBreeze, Market Logic Software, Coveo, Google, HP, Attivio, Lucidworks and others.
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