The global big data analytics market is anticipated to grow at a considerable CAGR of 14% during the forecast period. The latest trends in big data analytics aid associations in better-leveraging member behavior and other insights to improve member retention and recruitment. Big data analytics has always been a fundamental approach for companies to become a competing edge and accomplish their aims. Predictive analysis in big data can predict what may occur in the future. This strategy is extremely efficient in correcting analyzed assembled data to predict customer response. This enables organizations to define the steps they have to practice by identifying a customer’s next move before they even do it. For instance, in December 2021, Community Brands, the leading provider of software and payment solutions for associations, nonprofits, and schools announced the launch of a predictive analytics tool, Nimble AMS Predictions, to bring the power of AI (Artificial Intelligence) technology to associations on the Nimble AMS platform through the power of Salesforce Einstein.
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Customer Analytics allows companies to follow the entire cycle of their business’s relationship with its customer, to find out what works and what doesn’t, and make data-driven business decisions. Furthermore, with advancements in AI-guided machine learning technology, customer analytics tools allow businesses to work with, not only the quantitative data of whole numbers, statistics, and percentages, but the qualitative data of open-ended survey responses, social media monitoring, and opinion mining to get to the feeling and emotion of customer feedback. For instance, in March 2022, Adobe announced some new features for Customer Journey Analytics, its tool for tracking customers across platforms that is part of the company’s Experience Cloud portfolio. Moreover, Adobe launched a new experimentation feature in Journey Analytics that allows them to test real-world scenarios, analyze their results, and support businesses in better understanding how even small changes can affect a customer’s overall journey across their various properties.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Solution
o By Deployment
o By End-Users
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- including Cogito Corp., Couchbase, Inc., Dataiku Inc., Datameer, Inc., Dell Inc., Google LLC, Microsoft Corp., New Relic, Inc., SAS Institute Inc., and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Big Data Analytics Market Report Segment
By Solution
- Content Analytics
- Customer Analytics
- Fraud & Risk Detection
- Predictive Maintenance
By Deployment
- On-Premises
- Cloud-Based
By End-Users
- Aerospace & Defence
- Automotive
- BFSI
- Healthcare
- Government
- Manufacturers
- Others
