The business analytics & enterprise software industry includes development & distribution of customer relationship management (CRM), predictive analysis software, business intelligence (BI), business analytics, collaboration software and other enterprise oriented software solutions. It provides training & consulting services related with this type of software. The market includes publishing activities for various business analytics solutions for instance predictive analysis software & enterprise software solutions including enterprise resource planning. The IT companies are largely focusing on design & development of the effective business analytics tools like basic reporting to advanced & complex forecasting and data mining tools. These solutions permit the businesses & data analysts to extract the future insights from the provided corporate data which when transformed to the actions, delivers high levels of profitability & efficiency to the enterprise. Technologically advances in business intelligence & analytics software for instance Analytics Pro (by SAS) are driving this market
As per analysis, “Business Analytics & Enterprise Software Global Market Report 2020-30: Covid 19 Impact and Recovery” the key companies operating in the global business analytics & enterprise software market include IBM Corporation; SAP; Oracle Corporation; SAS Institute; Tableau Software Inc. and among others.
On the basis of type, business analytics & enterprise software market is segregated as business intelligence (BI) software, SCM software, customer relationship management (CRM) software, ERP software, and other software. On the basis of deployment model, market is segregated as on-premise deployment model and on-demand/cloud deployment model. In addition, on the basis of end-user industry, market is segregated as BFSI, healthcare, media, education, retail, manufacturing, IT & telecommunication and others.
The business analytics & enterprise software market is driven by rise in awareness about numerous benefits provided by this software, followed by rise in demand for cloud-based business analytics software among small & medium enterprises, acceleration of digital transformation in enterprises due to COVID-19 outbreak, rise in awareness regarding various benefits provided by business analytics solutions and increase in adoption of business analytics software by multiple organizations. Apart from this, lack of skilled workforce and high implementation cost are major hindering factors for market. Additionally, rise in need to gain insights for business planning, emergence of SaaS-based business analytics software and continuous technological advancements such as in cloud and mobility are leading opportunities for market. Moreover, rise in focus of enterprises on improving the workplace & growing profitability by using different business software and increase in popularity of social media marketing are key trend for market.
The COVID-19 or Corona Virus pandemic has brought radical changes to everyday lives of the individuals, work, and the surrounding environment. The pandemic has led to increase in adoption of cloud technology to assist the consumers across every industry to combat against this pandemic situation. Moreover, post COVID-19, it is expected that Big Data and cloud technology will be preferred by many healthcare companies to fight against such pandemic situations in the future and to forecast the possible situations before it happens.
It is estimated that future of the global business analytics & enterprise software market will be bright as a result of growth in technological advancements coupled with innovative predictive analysis tools during the forecast period.
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Global Business Analytics & Enterprise Software Market
Related Reports:-
Business Analytics & Enterprise Software Global Market Forecast To 2022
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