- The Global Data Analytics Outsourcing market is expected grow at a CAGR of 30.14 percent during the period 2013-2018.
London, 12 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Data Analytics Outsourcing Market 2014-2018. One of the emerging trends in the market is the emergence of social analytics. Social analytics performs analysis based on consumer buying patterns and by collecting customer feedback. This will help in launching new products depending on customer needs, increasing the revenue of enterprises.
Data analytics outsourcing is the process in which organizations employ service providers to perform analytics on organization-wide data. This increases the organization’s efficiency and also helps it to strategize its decisions based on the outcome of data analysis.
Expansion of data is one of the major drivers in this market. With the presence of a large amount of data, enterprises need data analytics to automatically track the performance and behavior of the information stored in their IT systems. In addition, they require data analytics to develop innovative business strategies and improve their overall operational efficiency.
The Key vendors in the market are Fractal Analytics Ltd., Tata Consultancy Services Ltd. (TCS), Wipro Ltd. and ZS Associates Inc.
“The Global Predictive Analysis market is expected to grow in the future. Several analytics service providers have started embedding predictive analysis with data analytics outsourcing offerings, which help businesses perform well and also allows service providers to increase their market share,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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