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Financial Analytics Market to Record an Exponential CAGR by 2024
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The financial analytics market has wide application such as BFSI (Banking, Financial Services and Insurance) sector. These services are used for analyzing financial stature of a company such as techniques to represent data in graphical formats. By using graphical representation, complexity of data is minimized which would help to understand financial aspects with use of upgraded financial techniques. Other than BFSI sector financial aspects have wide applications such as government, Information technology (IT), entertainment, media, retail and consumer goods, manufacturing, among the others.
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The market can be segmented according to the type, applications, verticals, and organization size. On the basis of type, the segmentation can be further classified as visualization tools and OLAP (Online Analytical Processing), support and consulting services, data integration tolls, among others. The financial analytics market has broad applications such as receivable management, general ledger management, and profitability management among the others. The major players of the market include TIBCO, IBM, SAP, among the others. These companies provide and are developing financial analytics solutions either integrated as BI suites or as individual sectors.
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