Financial Analytics Market

Oracle (US) and IBM (US) are leading players in Financial Analytics Market

The global financial analytics market size is expected to grow from USD 6.9 billion in 2018 to USD 11.4 billion by 2023, at a CAGR of 10.7% during the forecast period. The key factors driving the financial analytics market include an increasing need for reducing planning and budgeting cycles, and the emergence of new IT applications and infrastructure, such as big data and advanced analytics.

The major vendors offering financial analytics solutions globally include Oracle (US), IBM (US), Teradata, (US), TIBCO Software (US), SAP (Germany), SAS Institute (US), Alteryx (US), Qlik (US), FICO (US), GoodData (US), Birst (US), Google (US), Information Builders (US), Zoho Corporation (US), and Domo (US).

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The study includes an in-depth competitive analysis of the key players in the financial analytics market, along with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations, have been the most dominating strategies adopted by the major players, which helped them innovate their offerings and expand their reach.

IBM focuses on various aspects of enterprises and assists them in the overall business development. The company has built applications and automated time consuming tasks to increase business productivity. The financial analytics tools by IBM assist the finance departments across industries in developing planning, budgeting, and forecasting in a short time. Moreover, IBM invests heavily in its R&D activities, each year. In 2016, the number of patents filed by IBM was more than that of any other company for the 23rd consecutive year. IBM’s portfolio is a combination of advanced technologies derived from its undertaken initiatives for innovations and developments. IBM with its cloud-based solutions helps organizations govern their critical data on-premises with a proper risk and compliance management. With every new upgrade, the company has been delivering users advanced tools to simplify analysis and forecasting.

Oracle delivers software applications, platforms, and infrastructure technologies to both large enterprises as well as SMEs. The company caters to diverse business verticals, and, over the years, has expanded its geographical presence across the globe. The public company has a robust partner ecosystem that comprises distributors, system integrators, value-added resellers, consultants, and Original Equipment Manufacturers (OEMs). The key financial analytics software of the company is Oracle Financial Analytics, which can be integrated with Oracle E-Business Suite, PeopleSoft, JD Edwards, Siebel, Fusion Applications, SAP, and other systems to assist organizations in building and implementing quick, less risky, and cost-effective traditional Business Intelligence (BI) solutions. Oracle Financial Analytics helps its users reduce the time taken to generate reports for periodic financial statements or compliance with regulations such as Sarbanes-Oxley. Oracle Financial Analytics is a value addition to the company’s overall product offerings used by the businesses worldwide.

Related Reports:

Financial Analytics Market by Solution (Financial Functions Analytics and Financial Market Analytics), Application (Wealth Management, Transaction Monitoring, and Customer Management), and Industry Vertical - Global Forecast to 2023

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Report Code
TC 2187
Published ON
Mar, 2019
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