About Augmented Analytics -
Augmented analytics is the use of machine learning and natural language processing to reinforce data analytics, data sharing, and business intelligence. Manipulation and presentation simplify data to present clear results and provides access to tools so business users can make everyday decisions confidently. Data analytics software can integrate increased analytics tools to handle massive data sets. Organizations can enter in raw data source information to these platforms that may then scrub, parse and return key data for analysis. The use of machine learning (ML) and natural language processing (NLP) offers augmented analytics tools the ability to understand and interact with information organically as well as notice valuable or unusual trends.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 28.8% |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Augmented Analytics - market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM Corporation (United States), Microsoft Corporation (United States), Qlik Software Company (United States), SAP SE (Germany), Salesforce.com (United States), SAS Institute (United States), Sisense Inc. (United States), Tableau Software (United States), TIBCO Software Inc. (United States), ThoughtSpot (United States) and Oracle Corp. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Microstrategy (United States), Information Builders (United States) and Domo Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Augmented Analytics - market by and Region.
On the basis of geography, the market of Augmented Analytics - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022. If we see Market by Organization Size, the sub-segment i.e. Small & Medium Sized Enterprises (SMEs) will boost the Augmented Analytics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Retail will boost the Augmented Analytics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. On-Premise will boost the Augmented Analytics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Business Function, the sub-segment i.e. Sales & Marketing will boost the Augmented Analytics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Software will boost the Augmented Analytics - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Retail and Logistics Sectors Have Started To Use Analytics, Augmented Analytics Make Things Easier and BI Vendors Can Be Expected To Acquire More AI Startups
Market Growth Drivers:
Increasing Volume of Complex Business Data and Growing Adoption of Advanced Business Intelligence and Analytics Tools
Challenges:
Lack of Skilled Workforce and Difficulty in Managing Data Quality and Safety
Restraints:
Apprehension about Technologies Replacing Humans
Opportunities:
Increase in Adoption of Artificial Intelligence, Machine Learning, and Natural Language Processing Technologies and High Adoption of Augmented Analytics Solutions among SMEs
Market Leaders and their expansionary development strategies
On 22 January 2019, Qlik, a prominent augmented analytics provider has announced the acquisition of CrunchBot AI-powered analytics bot along with Crunch Data Inc.’s experienced team of Artificial Intelligence and solution development professionals. The acquisition is expected to expand Qlik’s current augmented intelligence and cognitive capabilities by providing additional conversational analytics built leveraging Qlik’s platform and open APIs. and On 13 July 2018, Tableau has announced the acquisition of Empirical Systems Inc., an artificial intelligence (AI) startup. The acquisition is the latest move towards machine-augmented analytics.
On 19 March 2019, SAP SE, a leading augmented analytics company has announced enhancements to the SAP Analytics Cloud solution, including augmented analytics, enterprise planning workflows, business intelligence (BI), and data integration capabilities. and On 5 Dec 2018, Qlik has introduced new machine learning capabilities into its cognitive engine and platform. Precedent-based machine learning enables the Qlik cognitive engine to get smarter over time, continually learning from user interaction and feedback as well as other sources. It is the first analytics company to bring ML and AI capabilities together with human intuition in a way that truly augments the user’s power to discover.
Key Target Audience
Augmented analytics providers, Potential Technology Investors, Third-party vendors, Independent Software Vendors (ISVs), Enterprises, Regulatory Bodies and End-users
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.