Operational Analytics Market Estimate To Boost Growth In Demand By 2024


Operational analytics is rapidly growing with transition from traditional business models to advanced business intelligence (BI) and analytics techniques. The use of big data is helping organisations to operate in more data driven and smarter manner. Moreover, operational analytics enables better decision making for steady growth of businesses across industries, with well-structured data processing, streaming business applications such as customer relationship management (CRM) and real time information system.

Decision management has become an important part of business that provides understanding of information required to make decisions in the right format. Operational analytics enables smart decision management through automated data sharing with connected databases, which include discovery, extraction and learning of big data. Data guides and drives all decisions and company’s actions in present digital businesses. Operational analytics solutions help in organising these large data sets and discover various patterns that help in recognising consumer problems important for businesses to address.

Major challenges faced by the global operational analytics market growth include implementation of operational analytics in small and medium enterprises (SMEs) with lack of efficient data management services, inheriting advanced analytics technologies with limited support tools, insufficient skilled technical staff, easy data availability & secure data sharing, maintaining confidentiality & data privacy among organisations and mapping rate of technological changes.

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Traditional information technology ecosystem is slow in supporting predictive analytics on currently hosted IT platforms. In addition, many business policies related to information technology often restrict operational analysts from querying databases due to risk of failure.  Frequent changes in business IT operations, complex value chains, minimum awareness and lack of information to end users and cost of ongoing changes in technology maintenance may restrain growth of the global operational analytics market.

With robust IT infrastructure, sophisticated database management systems and highest revenue generating regions, North America region is expected to show high growth in operational analytics market. Increasing economic regions such as APAC has more growth potential with increasing demand of advanced analytics services and growing technology requirements.

Some of the major players in the global operational analytics market are Hewlett Packard, SAP SE, IBM Corporation, Oracle Corporation, VMware, Bentley Systems and Microsoft Corporation.

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