Global Automated Analytics Market: Snapshot
Analysis of various types of data that are produced by business enterprises are invaluable, as a comprehensive assessment of the data can reveal and detect areas that can be improved on for greater profits. However, rawness of the data can make it harder for interpretations and thereby the hopes of discovering meaningful information that can be used for profitability. For this, the concept of automated analytics has come to the fore wherein machines or preset programs manage the extraction of data and generate insightful reports that can be used for optimization. According to this business intelligence study by Transparency Market Research, the demand in demand in the global automated analytics market will continue to expand at a notable CAGR during the forecast period of 2017 to 2025, particularly on the back of prosperity that a number of small and medium enterprises are showing in a number of emerging economies.
In the near future, natural language generation (NGL) and deep learning is expected to become standard across the automated analytics market that is spreading quickly. Deep learning and natural language generation are expected to work as a tool for the data scientists and data integrators to perform applications such as speech control, query resolves, anomaly detection, facial recognition, and sentiment analysis. Research institutes formulate a major part of investment for various companies to develop their niche technologies and these facilities stand to gain fruitfully from automated analytics tools. So are engage academics and consulting companies. On the other hand, NGL promises to create spoken or written content along with visualization interfaces, which can be used to broaden audience landscape for an enterprise as well as reduce cost and time. In addition to that, the rapid rate with which cloud platform are deployed and adopted, the vendors operating in the global automated analytics market will gain new opportunities.
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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.
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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