Analytics as a service, also abbreviated as AaaS, refers to the provision of software based operations and analytics via web delivered technologies. Such type of solutions offers enterprises and businesses with an alternative to develop setup for internal hardware to perform business analytics. Analytics as a service is becoming increasingly popular and valuable option for businesses since setting up an overall analytics process might be a tedious and workintensive process. Businesses which require performing more analytics might need relatively more number of servers and other types of hardware. They might also require more staff for information and technology in order to maintain and implement such programs. If a business can deploy analytics as a service instead, it might be able to bypass such new added costs.
Some of the major growth drivers in the global analytics as a service market include business intelligence maturation, increased ability of technologies to process huge workload using cloud as well as lower initial and maintenance cost of ownership. Some factors such as rapid and continuous growth of unstructured and structured data from diverse social media platforms are some key reasons anticipated to impel the prospects for growth in the global analytics as a service market over the forecast period. Also, one of the major drivers in the global analytics as a service market is the rising adoption of data analytics across diverse business segments. Most benefits linked with data analytics comes up from its ability to recognize major patterns and to make related predictions based on past experiences. Based on the aforementioned criteria, various organizations are opting for data analytics in order to understand the patterns for customer acquisition, consumption as well as other factors to increase the overall revenues, save cost and maintain customer loyalty.
The global analytics as a service market can be segmented on the basis of solution, service, analytics type, deployment model, organization size, industry vertical and region. On the basis of solution, the global analytics as a service market can be segmented into financial analytics, customer analytics, marketing analytics, risk analytics, sales analytics, web and social analytics, supply chain analytics, network analytics and others. On the basis of services, the global analytics as a service market can be segmented into consulting, managed services and support & maintenance. On the basis of analytics type, the global analytics as a service market can be segmented into predictive, prescriptive, diagnostic and descriptive. By deployment model, the global analytics as a service market can be segmented into public cloud, private cloud and hybrid cloud. By organization size, the global analytics as a service market can be segmented into small & medium size and large business. By industry vertical, the global analytics as a service market can be segmented into BFSI, retail & wholesale, government, healthcare & life sciences, manufacturing, telecommunication and information technology, energy & utility, travel & hospitality, transportation & logistics, media & entertainment and others. On the basis of region, the global analytics as a service market can be segmented into North America, Latin America, Europe, Middle East & Africa and Asia-Pacific.
Major players operating in the global analytics as a service market are focusing on some key market strategies such as mergers and acquisitions to keep hold in the ever competitive market. Moreover, they are concentrating on collaborating with local players to increase their market reach as well as strengthen their goodwill in the global market. Some of the major players in the global analytics as a service market include Information Builders, eBay, MicroStrategy, LiquidHub, Qlik, Opera Solutions, Tableau Software and SAP among others.