Analytic is the tool useful for interpretation, communication and discovery of meaningful patterns in data. The automation of above mentioned process is said to be automated analytics. An automated analytics process often includes data retrieval, data management, model scoring, optimization & insights & reports, and media planning among others. Wherein, once the new data is gathered, many data management steps become necessary. For instance, data merging, clearing, aggregation filter, and transformations. If all these mentioned process are manual, then work efficiency is anticipated to hamper. However, implementation of automated analytics sets off all required data management processes and hence improvise the data analysis to make effective business strategies. Automated analytics helps to take firm and right business decisions. Unlike manual analytics, automated analytics provide recommendation to a human. In prescriptive analytics, automated analytics itself takes an action on the output of their analysis.
Few instance consider airline companies reviewing the price changes for airline seats, banker reviewing applicants’ applications for personal loan, if they use employees for tasks, they would need to increase their employee strength. However, these mentioned processes are automated using automated analytics tools. Automated analytics play crucial role and are becoming necessary in the world, to feature real-time data analysis. Automated analytics, to function efficiently, it is required to be embedded into the other systems that brings forth data to the analysis and developed to take necessary action in real time. Organizations are increasingly adopting automated analytics inside of data warehouses.
The growing trend of rapid innovations and technological advancement in digitization and hence automated analytics implementation is witnessing the growth for global automated analytics market and anticipated to show similar trend during the forecast period. The adaptation of automated analytics in big data analysis is anticipated to drive the global automated analytics market during forecast period. Automated analytics increases agility through faster integration of enterprise data warehousing and business intelligence applications. Across big data automated analytics reduces the manual human efforts and access to timely and accurate business analytics. It maintains the complete control over end-to-end data flows. Furthermore, it also saves time and reduce risk with high performance managed file transfers. However, more initial developer time requirement for customized automated analytics feature, and increase tooling needs is anticipated to obstruct the automated analytics market during the forecast period.
Additionally, automated analytics’ feature which includes real-time automatic computation and instant data processing is anticipated to seek significant opportunities across retail, finance, gaming, and telecommunications industries among others to grow the overall market in the coming years.
Automated analytics market is segmented as by technology, by type, by end-use, and by geography. The technology segment is further classified as fraud detection, complex competitive analysis, call center optimization, consumer sentiment analysis, and intelligent traffic management among others. Based on type segment, the global automated analytics is subdivided into predictive, diagnostic and descriptive among others. Furthermore, end-use segment of automated analytics market is classified as publisher analytics, advertiser analytics, and both publisher & advertiser analytics. Global automated analytics market, based on geography, is divided into five regions which includes North America, Europe, Asia Pacific, Middle East and Africa (MEA), South America. On regional basis the North America segment is anticipated to contribute largest market share in the current market. Europe is anticipated to show marginal growth with significant compound annual growth rate during the forecast period. Asia pacific, Middle East & Africa are expected to witness the similar growth in near future.
Some of the major players in the global automated analytics market, who provide the automated data analytics tools includes, Actian Corporation, Adeptia, Inc., Altova, Astera Software, Informatica, IBM Corporation, Pentaho Corporation, Talend, Oracle Corporation, SAP, Elixir Technology Pte Ltd., CloverETL, QlikTech International AB, Lead Liaison LLC, and SnapLogic, Inc.
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