Data analytics outsourcing denotes outsourcing of data and statistical research, in addition to applying computational resources for effective decision-making and advanced business solutions to third party vendors. Data analytics tools enable organizations to make better decisions, increase efficiency, reduce operational costs, provide customized offerings and enhance customer services. Several companies prefer using data analytics to analyze large amount of data through various quantitative and qualitative techniques to gain market and customer insights. There has been a significant increase in the data generated by organizations, owing to greater adoption of mobile devices, social media, and growing development of multimedia content. Aggrandized data generation by organizations across various sectors and decreasing cost of data storage solutions have fostered the growing need for taking successful business decisions based on market analysis and insights. Most of the organizations are increasingly recognizing the benefits and profitability of applying data analytics, however, lack of in-house skilled resources and expertise is driving them towards outsourcing data analytics. The data analytics outsourcing market is in its nascent stage and is expected to grow rapidly during the forecast period, owing to the growing awareness about advantages and increased productivity obtained from data analytics outsourcing. However, privacy concerns of confidential data and data security issues restrict the growth of the data analytics outsourcing market. However, increasing investment in social analytics and real-time analytics has provided ample growth opportunities to the market players.
The vendors in the market offer a wide range of data analytics outsourcing services to help consumers in formulating effective business strategies and maximizing profits. In addition, the service providers in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. For instance, in November 2013, Fractal Analytics collaborated with Sequoya, which is a customer management solutions provider. This partnership is aimed at providing predictive analytics solutions to retailers and consumer packaged goods manufacturers, further driving them towards real-time pricing and promotion decisions. In May 2015, Accenture introduced Accenture Analytics Applications Platform for delivery of actionable insights and data driven decisions. The platform also provides advanced analytics applications catering to needs of specific industries and applications. Other leading players in the market include Tata Consultancy Services Ltd., ZS Associates, Inc., WIPRO Ltd., Genpact Ltd., Accenture and Capgemini.
The world data analytics outsourcing market is segmented on the basis of type, application, vertical, and geography. Based on the type of data analytics outsourcing, the market is segmented into predictive, descriptive, and prescriptive. The application segment is categorized into sales analytics, marketing analytics, risk & finance analytics, supply chain analytics, and others. Data analytics outsourcing is implemented across domains, such as BFSI, telecom, retail, healthcare, media & entertainment, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and LAMEA.
The market is segmented on the basis of type, application, vertical and geography.
MARKET BY TYPE
MARKET BY APPLICATION
MARKET BY VERTICAL
MARKET BY GEOGRAPHY
SIMILAR MARKET STUDIES
Cloud Enterprise Application Software Market by Solution (CRM, ERP, SCM, Web Conferencing, BI, BPM, CMS, EAM, and Others) and Industry Vertical (Manufacturing & Services, BFSI, Healthcare, Retail, Government, Oil & Gas, Telecom, and Others) - Global Opportunity Analysis and Industry Forecast, 2016-2023
Enterprise application software is a collective set of computer programs with shared business applications that cater to the needs of an entire organization rather than an individual user. It provides services such as online payment processing, automated billing system, human resource management, IT service management, customer relationship management, enterprise resource ...
September 2017 | $5370 | View Details >>
This report studies the Computational Fluid Dynamics (CFD) market status and outlook of global and United States, from angles of players, regions, product types and end industries; this report analyzes the top players in global and United States market, and splits the Computational Fluid Dynamics (CFD) market by product type ...
September 2017 | $2960 | View Details >>
This report studies the Same-day Delivery market status and outlook of global and major regions, from angles of players, regions, product and end Application/industries; this report analyzes the top players in global and major regions, and splits the Same-day Delivery market by product and Application/end industries. The major players in global ...
September 2017 | $3300 | View Details >>
This report studies the Financial Leasing market status and outlook of global and major regions, from angles of manufacturers, regions and end industries; this report analyzes the top manufacturers in China and splits the Financial Leasing market by applications/end industries. The major players in global Financial Leasing market include CDB Leasing ICBC ...
September 2017 | $4000 | View Details >>
UPCOMING MARKET RESEARCH REPORTS
2017 © Copyright Big Market Research