Business analytics software increasing due to Low Cost & Enhanced Usability

Business analytics software conducts predictive analysis to derive decision-making inputs and insights through the application of statistical tools and methods in business performance data. It analyzes business data and information through continuous investigation and exploration of old business performance data to obtain decisive insights for business planning. A business analytics software helps an organization to optimize business operations and facilitates strategic decision-making. The outputs are mostly used by financial analysts, managers, security personnel, and key decision makers of organizations. The demand for cloud-based business analytics software is increasing among small- and medium-sized enterprises chiefly due to its low cost and enhanced usability.

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The growth of the global business analytics software market is driven by factors such as increase in adoption of business analytics software by multiple organizations, surge in demand for cloud-based business analytics software among SMEs, and numerous benefits provided by business analytics solutions. In addition, ability of business analytics software to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner propel the growth of the industry.

The global business analytics software is dominated by key players such as IBM Corporation, Fair Isaac Corporation, SAP SE, Microsoft Corporation, Oracle Corporation, Salesforce.com, Inc., SAS Institute Inc., Adobe, Qlik, and Google LLC.

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