Business Analytics: Key market research findings
- Surge in the adoption of big data analytics
- Convergence of mobility and business analytics
Technavio has released a new market research report on the global BPO business analytics market, which is expected to generate revenues of $22 billion by 2020. Business analytics is used for strategic decision making, enabling organizations to understand their customers, optimize operational cost, and improve business efficiency and competitiveness. Business analytics outsourcing helps enterprises addresses compliance requirements by increasing their transparency, and increasing their operational efficiency. The Americas account for 50% of the total market share, as the region is witnessing increased demand for business analytics outsourcing from sectors such as public, BFSI, and healthcare.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Enterprises are increasingly adopting systems such as enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM) and sales force automation (SFA), which has generated large volumes of data. With the increased adoption of big data, the use of business analytics has also surged with a greater need to understand data. Data analytics tools and technologies help derive powerful insights and make efficient use of big data. This helps organizations make strategic decisions based on actionable insights for their business activities,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
Organizations are implementing mobile-enabled business analytics owing to tremendous market pressures such as the need to improve employee productivity, enhance customer service, achieve higher business process efficiency, and provide real-time data access to faster and better decision making processes. The combination of mobility and analytics will help employees and companies to work more closely together, build new skills, and make faster and smarter data-driven decisions.
The leading vendors in the global BPO business analytics market include Accenture, Capgemini, Genpact, IBM, and TCS. This market is highly fragmented with the presence of large and small players. The market is extremely competitive with vendors competing to gain a greater market share. Players in the market are constantly looking for ways to increase their market share through mergers and acquisitions and partnerships. They are also focusing on differentiating themselves by offering mobile-enabled business analytics solutions, predictive analytics, and cloud-based business analytics services. This research report expects the competition in the market to intensify as large players increase their global footprint.
A more detailed analysis is available in the Technavio report, Global BPO Business Analytics Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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