Operational Analytics Industry, Business Development Analysis and Future Challenges by 2024: Global Market Insights, Inc.
Global operational analytics market growth is presented in this latest research report that reviews industry growth drivers, trends, regional factors & companies as well as provides forecasts for next few years. Operational Analytics Market size is witnessing an upsurge due to the transition from traditional business to advanced business intelligence techniques. Operational analytics offers significant benefits for optimizing daily business operations. It helps in reducing the operating time and provide real-time data streaming. Several industries are undergoing digitization on account of technological advancements, which enhances the operational analytics market size from 2017 to 2024. It helps in augmenting the transactional effectiveness by boosting transactions, eliminating the risk of fraudulent practices, growing competitive spirit, and enhanced decision-making efficiency. The adoption of cloud-based technology is fueling the industry growth. The usage of this technology makes the operational process cost-effective and provides hassle-free maintenance of data. The adoption of IoT-enabled devices has increased to fetch important information and provide advanced features. The growing industry of connected devices is accelerating the operational analytics market share. Factors, such as operations optimization, usage of advanced data management technologies, and a huge focus on competitive intelligence are fueling the industry demand.
On-demand operational analytics is witnessing a huge demand owing to the costeffective and timely services it provide, which are mainly used by the small and medium scale enterprises. Increasing demand in retail, IT, and healthcare sectors offers immense growth potential over the forecast period. Lack of skilled workers and high initial investment are the factors hampering the operational analytics market growth. The change in the organizational structure further poses a threat to the growth of the operational analytics market share. The absence of governmental support and inability to handle third-party data sources will challenge the industry demand. The expansion of technologies, such as PaaS is anticipated to provide a huge opportunity. PaaS provides a high-level programming with reduced complexity which further surges the industry demand. 1|Page