Augmented Analytics Market is anticipated to grow at a high CAGR from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “Augmented Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030.” According to the report, the global augmented analytics market is anticipated to grow at a high CAGR from 2020 to 2030.
Augmented analytics includes embedding artificial intelligence (AI), in the form of machine learning and natural language processing into traditional analytics. Augmented analytics allows faster access to insights derived from vast amounts of structured and unstructured data and helps uncover hidden insights, remove human bias, and predict bias. By deploying augmented analytics, not only can organizations democratize use of the data but can also go beyond predictions of future business events or scenarios and access unbiased prescriptive solutions.
The growing demand for augmented analytics across end-use industries, such as BFSI, retail & consumer goods, healthcare, telecom among others are leading to high adoption among enterprises. For instance, IBM is offering the NLP capability of an IBM Watson-powered feature called the Equipment Maintenance Assistant. It processes unstructured and structured data across documents that includes manuals, standards, safety procedures, reports and historical work logs. Based on that ingested data, the assistant platform provides solutions enabling to derive actionable insights and solutions.
North America accounted for the largest market share in the augmented market and is expected to continue its dominance for the next few years during the forecast period. The growth in this region can be attributed to the high adoption of new technologies, the presence of established key players and growing adoption of advanced analytics to improve their data analytics capabilities. Asia Pacific is expected to grow at the highest CAGR during the forecast period owing to the presence of developing economies such as India and China. In eeconomies such as India, there is a growing shift from traditional and tool-centric data and analytics projects to modern data and analytics programs with enterprises heavily investing in advanced analytics solutions driven by artificial intelligence and machine learning to increase accuracy of insights. For instance, Indian based Concretia Rock Products implemented Salesforce’s AI-powered analytics platform, Einstein Analytics to make smoother business decisions. With the use of Einstein Analytics, the company managed to eliminate the human intervention in their business processes, starting from lead generation, creating order to preparing the dispatch and collection of the orders. Additionally other aspects such as booking, ordering, invoicing and customer complaints were also automatized with the help of the platform.
Browse key industry insights spread across 150 pages with market data tables & figures & charts from the report, Augmented Analytics Market By Deployment Model (On-Premise, Cloud), By Organization Size (Large Enterprises and Small and Medium Enterprises), By Function (Data Mining, Forecasting & Econometrics, Text Analytics and Optimization & Simulation), By Department (HR, Finance, Marketing, Operations and Sales), By End-Use Industry (Banking, Financial Services and Insurance (BFSI), Media, Telecom, Retail, Healthcare, Education, Government and Public Sector, and Travel and Transportation) - Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/augmented-analytics-market/373
Some of the prominent players in the global augmented analytics market are IBM, SAP, SAS Institute Inc., QlikTech International AB, TABLEAU SOFTWARE, LLC, Salesforce.com, Inc, Sisense Inc., ThoughtSpot, TIBCO Software Inc., MicroStrategy Incorporated and others.
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