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Financial Analytics Market is Growing Rapidly and Enhanced Technologies in Business Intelligence (BI) and Business Analytics
Financial analytics refers to the technologies, applications, skills, and practices implemented for the data exploration to derive the valuable insights that support business decisions. Financial analytics integrates multiple forms of analytics and is supported by consulting support services, data integration tools, database management, Online Analytical Processing (OLAP) and visualization, and reporting tools. It also uses techniques such as data mining, natural language processing, statistical and quantitative analysis, and artificial intelligence. In addition, the finance domain knowledge is the key factor for financial analytics portfolio. The integration of domain knowledge and analytics develops the appropriate analytic application that allows enterprises to take specific business decision.
The financial analytics market is growing rapidly because of the enhanced technologies in Business Intelligence (BI) and business analytics, high data intensity, competitive differentiator, and increased focus on data transparency. Financial analytics has been gaining good traction in the market; most of the enterprises are implementing these analytics to simplify the financial analysis in less time. Financial analytics represents the data in various patterns and uses advanced visualization for real-time analysis. In the financial analytics market, each solution and service plays an important role. The consulting and support services account for the largest market share, and analytical and visualization tools are growing rapidly in the financial analytics market due to increasing demand for each solution across diversified industry verticals. The Banking, Financial Services, and Insurance (BFSI) vertical are driving the overall financial analytics market, and healthcare and life science, manufacturing, and transportation and logistics are the emerging verticals.
In terms of region, North America (NA) is the largest market for the financial analytics market, as North America is one of the largest regions which has huge penetration rate for BI and business analytics market. North America has a large demand for financial analytics in BFSI, consumer goods and retail, and government industry. The Asia-Pacific (APAC), Latin America (LA), and Middle East and Africa (MEA) are the emerging regions in the overall financial analytics market.
Financial Analytics Market [by Types (DBMS, Query, Reporting & Analysis, OLAP, Visualization), Applications Assets & Liability, Budgetary Control, General Ledger, Payables, Receivables, Profitability, GRC] - Worldwide Market Forecasts (2013 - 2018)
North - Dominion Plaza,
17304 Preston Road,
Suite 800, Dallas, TX 75252