U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Augmented Analytics Market” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
Augmented analytics embeds machine learning algorithms, natural language generation, and other advanced analytics functionality into business intelligence (BI) to automate insights. Augmented analytics comprises data preparation, data discovery, and augmented data science and machine learning (ML). Augmented analytics utilizes automated ML to transform how data is developed, consumed, and shared. Non-technical users can easily interface with augmented analytics solutions by asking questions directly and getting answers instantly, radically decreasing reporting time, and accelerating strategy and performance. The growing adoption of it will enable organizations to optimize decisions and actions of not only data scientists but also all employees.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Rise in need to democratize the analytics and increase productivity, increase in awareness of enterprises to utilize growing streams of data from various sources in innovative ways, and to make the work of citizen data scientists and business users easier are some of the major factors that drive the growth of the global augmented analytics market. In addition, adoption of modern business intelligence tools by enterprises, which utilize artificial intelligence algorithms and machine learning is expected to fuel the growth of the market.
However, security concerns over critical data among industry verticals and slow adoption of advanced analytics solutions in the underdeveloped regions are the major factors that impede the augmented analytics market growth. Conversely, increase in investment in bots and rise in industry-specific solutions that are driving adoption of augmented analytics among different industry verticals are expected to provide lucrative opportunities for the growth of the global market.
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The global augmented analytics market is segmented based on component, deployment, organization size, business function, industry verticals, and region. In terms of component, the market is bifurcated into software and services. On the basis of deployment, it is fragmented into on-premise and cloud. Depending on organization size, it is segregated into small and medium-sized enterprises (SMEs) and large enterprises. By business function, it is classified into sales & marketing, finance, IT, operations, and others. By industry verticals segment, it is divided into retail, healthcare & life sciences, BFSI, telecom & IT, manufacturing, government, transportation & logistics, and others. Region wise, augmented analytics market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Augmented Analytics Market:
The study presents an in-depth analysis of the global augmented analytics market along with the current & future trends to elucidate imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the market is provided in this study.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the global augmented analytics industry.
The quantitative analysis of the global augmented analytics market from 2017 to 2025 is provided to determine the market potential.
Key Market Players
IBM Corporation
Microsoft
Qlik
SAP SE
Salesforce
SAS Institute
Sisense Inc.
Tableau Software
TIBCO Software Inc.
ThoughtSpot
Augmented Analytics Key Market Segments:
By Component
Software
Services
By Deployment
On-Premise
Cloud
By Organization Size
Small & Medium Sized Enterprises (SMEs)
Large Enterprises
By Business Function
Sales & Marketing
Finance
IT
Operations
Others
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By Industry Verticals
Retail
Healthcare & Life Sciences
BFSI
Telecom & IT
Manufacturing
Government
Transportation & Logistics
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
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Key Highlights:
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Five Forces Analysis: To enhance market understanding, we conduct a comprehensive five forces analysis that includes evaluating the bargaining power of buyers and suppliers, the threat of new entrants, the threat of substitutes, and the level of rivalry within the market.
Competition: We study leading players in the industry based on their company profile, product portfolio, capacity, product/service pricing, sales performance, and cost/profit analysis.
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