The global augmented analytics market size is expected to reach USD 22,390.1 million by 2025, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 25.2% from 2019 to 2025.
Data
has become one of the most critical assets for any organization. Every organization’s
progress depends on how correctly the data resources are being used. To ensure
that data resources are appropriately used, enterprises are depending on data
scientists, which are rare resources, to get actionable insights. This has
driven the adoption of augmented analytics among organizations, which
eliminates the dependency on data scientists. The augmented analytics
technology allows enterprises to get consistent data with fewer errors in
lesser time. It also accelerates data preparation and discovery with the help
of advanced tools such as machine learning and artificial intelligence. In
addition, it eliminates the requirement of any technical person to write
algorithms for creating data analysis models that can determine insights.
The
field of data analytics has evolved significantly in recent years. The
increasing requirement of data scientists to analyze massive volumes of data to
derive actionable insights has generated the need for augmented analytics. The
technology automates the data science steps and analysis used in the process of
advanced analytics, thereby providing actionable insights from data. This is
done by using linguistic and statistical technologies to break down big data
into small chunks that are more usable.
The
augmented analytics technology has helped in delivering more detailed and
relevant insights from the copious amount of data stored within an organization
or generated during everyday operations and procedures. Factors such as rising
demand of intelligent business tools in the field of data analytics, increasing
adoption of smart discovery tools for business users, rising need for an
increase in productivity, and the growing adoption of technology across
diversified industry verticals are propelling the growth of the augmented
analytics market.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/augmented-analytics-market
Further key
findings from the report suggest:
- Increasing
adoption of predictive and prescriptive analytics to determine the
information and appropriate reasoning for any analysis coupled with the
growing need for data quality management to clean and prepare data and
distribute it across the enterprise will spur the growth of the market
- The adoption
of cloud-based analytics is expected to increase due to capabilities such
as agility and quick response time along with robustness offered by the
cloud
- The
integration of artificial intelligence and automation into augmented
analytics technology is augmenting the user experience by providing
capabilities such as chatbots to enable real-time services to customers
- The North
American region dominated the augmented analytics market in 2018. The Asia
Pacific region is projected to register the highest CAGR from 2019 to 2025
- Key
competitors in the market are Microsoft Corporation, IBM Corporation, SAP
SE, Qlik Technologies Inc., Tableau Software Inc., Sisense Inc.,
Salesforce.com, Inc., TIBCO Software Inc., SAS Institute Inc., and
MicroStrategy Incorporated.
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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