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New Product Launches and Product Development Were the Key Strategies Adopted by Industry Players in Operational Analytics Market
Operational analytics is a type of analytics in which business users can access the operational data and can perform queries to generate insights using this data. It equips business users with easy-to-use data exploration, data preparation, appropriate analytics, and data visualization tools & techniques. It helps companies cut inevitable losses, gain operational insights, and grab new opportunities.
This business sector includes an expansive number of vendors providing software and services; for example, IBM Corporation (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), SAS Institute (U.S.), HPE (U.S.), SAP SE (Germany), Alteryx (U.S.), Cloudera (U.S.), Bentley Systems (U.S.), and Splunk (U.S.). Players in this business sector have embraced different strategies to extend their worldwide presence and market share. New product launches and product development were the key strategies adopted by industry players to accomplish development in the market. Apart from these, partnerships, collaborations, strategic alliances, agreements, and acquisitions are some of the other significant strategies embraced by the market players in the operational analytics market.
Microsoft Corporation is one of the eminent leaders in the operational analytics market. The organization primarily serves the regions of North America, Asia-Pacific (APAC), Latin America, Middle East and Africa (MEA), and Europe. Microsoft’s long-term strategy leans more towards inorganic growth strategy, where the company looks forward to expanding its market with partnerships and collaborations. In April 2016, Microsoft collaborated with Rolls-Royce to offer advanced operational intelligence to airlines by integrating Microsoft Azure IoT Suite and Cortana Intelligence Suite into its service solutions to expand its digital capabilities.
The fundamental objective of IBM Corporation is to meet every industry client requirement and in addition provide new advancements to analytics with operational analytics tools. The organization serves clients across different industries; for example, communications, Banking, Financial Services, and Insurance (BFSI), energy & utilities, hospitality, healthcare, retail, travel & transportation, metals & mining, government sector, media & entertainment, and education. IBM Corporation is headquartered in the U.S., with presence across 175 countries worldwide. IBM Corporation is considered as one of the strongest suppliers for operational analytics tools. The organization follows both organic as well as inorganic strategies to deal with the expansion of its market share. Operational analytics products offered by IBM basically include IBM SPSS, IBM Cognos, IBM Predictive Maintenance and Quality, IBM PureData System, and IBM Intelligent Operations Center. In September 2016, IBM announced the launch of cloud-ready systems, services, and solutions that comprise z Systems for cloud enabling z Systems operational data to be efficiently consumed in near real time by the clients’ cloud or local enterprise operational analytics platform.
The global operational analytics market is expected to grow from USD 4.65 billion in 2016 to USD 10.93 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 18.6%.
Operational Analytics Market by Type (Software, Services), Business Function (IT, Marketing, Sales, Finance, HR), Deployment Models (On-Premises, On-Demand), Application, Industry Vertical, and Region - Global Forecast to 2021
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