The visual analytics market in the US education sector was valued at around $674 million in 2015 and is expected to surpass $1017 million by 2020, says Technavio.
Technavio has announced its latest market research report on visual analytics in the US education sector to its education technology portfolio. This market analysis discusses the major drivers and key emerging trends that will influence the growth of the visual analytics market in the US education sector during the forecast period 2016-2020. Some of the top vendors listed in this industry analysis include Oracle, Qlik Technologies, SAS Institute, and Tableau Software.
“The advancement in technology is leading to the evolution of digital classrooms. Educational institutions are adopting cloud computing solutions to meet strategic goals. The use of these solutions enables good business performance, retention talented faculty and staff, monitor expenses and revenue, and improve transparency. This technology helps reduce IT overhead expenses by offering expandable and on-demand services and tools,” says Jhansi Mary, a lead analyst at Technavio for research on education technology.
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The new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Easy representation and management of data
Educational institutions are using visual analytics to source funds such as fees, donations, and state and district funds, and maintaining transparency of financial resources. These institutions are strengthening their software portfolio by adopting advanced visual analytics tools. Visual analytics tools allow users to generate quick summaries in the form of histograms and association matrix and then is available in compact formats for analysis and summary projections.
Rising penetration of ERP solutions in educational institutions
ERP solutions are used for efficient functioning and allocation of funds across branches and departments. The advent of cloud-based software solutions is enabling proper integration of ERP solutions with the existing systems. ERP solutions help institutes to manage the increasing demand for quality education and enrollment pressure. It also helps with visibility and improves the performance of various business operations like administration, human resources, and financial performance. These software solutions help with better decision-making process of administration and management of an organization.
Emergence of self-service analytics
The banking and insurance segments are predominantly using predictive and statistical analytical techniques. Advanced analytical tools help in the analysis of historical data and provide information about future scenarios. Vendors are introducing self-service tools that empower decision makers with a technology that will allow them to explore various solutions to improve problem-solving abilities. Companies are designing advanced analytics tools with easy-to-use features that include auto-charting and pop-ups. For instance, SAS recently introduced two tools, such as SAS Visual Analytics and Visual Statistics in the self-service analytics category.
Growing demand for tools to manage institution funds
Educational institutions are using data visualization technology and visual analytics software solutions to enhance their enrollment programs, student and faculty performance, IT expenditure, and institutional research. For instance, Anglia Ruskin University, implemented QlikView to help department heads and administrative staff to assess individual student records and gain insights from them.
Other prominent vendors identified in this report are Domo, Dundas Data Visualization, IBM, Logi Analytics, MicroStrategy, and SAP.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, key financials, etc. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Visual Analytics Market in the US Education Sector 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Artificial Intelligence Market in the Education Sector 2016-2020
- ELT Market in China 2016-2020
- Education Technology Market in North America 2015-2019
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