Data analytics outsourcing denotes outsourcing of data and
statistical research, in addition to the application of 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. A number of companies prefer using data
analytics to analyze large amount of data through various quantitative and
qualitative techniques to gain market and customer insights.
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There has been a significant increase in the data
generated by organizations, owing to greater adoption of mobile devices and
social media, and increasing multimedia content. Aggrandized data generation by
organizations across various sectors and decreasing cost of data storage
solutions have fostered the adoption of data analytics outsourcing among
enterprises for successful business decisions 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 drive them toward outsourcing data analytics.
The data analytics outsourcing market is in its nascent
stage and is expected to grow rapidly during in the future, owing to the rising
awareness about advantages and increasing productivity of its use. In addition,
increasing investment in social analytics and real-time analytics provides
ample growth opportunities to the market players. However, privacy concerns of
confidential data, data security issues, and limited availability of skilled
workforce possessing data analytics knowledge restrict the growth of the data
analytics outsourcing market.
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Competitive Intelligence on
prominent manufacturers of data analytics provide key insights in terms of
strategies implemented to gain significant share in the data analytics market.
Some of the leading manufacturers profiled in this report includes Tata
Consultancy Services Ltd., ZS Associates, Inc., WIPRO Ltd., Genpact Ltd.,
Accenture and Capgemini.
Value chain analysis
Data analytics outsourcing value
chain comprises different phases including data collection, data storage,
analytics, advanced analytics, and representation. Each phase shares a specific
value at their point of operation, which in turn contributes to the competitive
value of the product. The R&D activities, innovations, marketing strategies
and aesthetics enhance the value associated with the end-deliverable by each
player.
Top winning strategies
The top winning strategies have
been analyzed by performing a thorough study of the leading players of the
world data analytics outsourcing market. The market is largely driven by
partnerships and collaborations. Increasing demand from organizations to make
effective data driven decisions drives the market growth. The vendors in the
market offer highly advanced and customized products to strengthen their market
presence. The other leading strategies in the market include product launch,
acquisition and geographic expansion through opening new centers.
Top impacting factors
The significant increase in data
generation by organizations influences world data analytics outsourcing market.
Moreover, reduced data storage costs also drive the growth of the market.
However, high initial cost and data privacy concerns limit the growth of this
market. All these factors collectively influence the market growth, both positively
and adversely.
Top investment pockets
The analysis presented in this
section highlights the attractiveness of each segment in order to identify
lucrative market areas of investment. Outsourcing of data analytics is applied
in industries including BFSI, telecom, healthcare, retail, media and entertainment
and others. Presently, the market of data analytics outsourcing is driven by
BFSI, owing to the increasing availability of transactional data and greater
need to implement risk and fraud analytics. However, during the forecast
period, healthcare and telecom are some of the most lucrative sectors for
application of data analytics outsourcing.
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POTENTIAL
BENEFITS FOR STAKEHOLDERS
- This report provides an in-depth analysis
of data analytics outsourcing market with current and future trends to
elucidate the imminent investment pockets in the market
- Current and future trends have been
outlined to determine the overall attractiveness and single out profitable
trends to gain a stronger foothold in the market
- The report provides information regarding
key drivers, restraints and opportunities along with impact analysis
- Quantitative analysis of the current
market and estimations during the period of 20152020 have been provided to
showcase the financial appetency of the market
- Porter’s Five Forces Model and SWOT
analysis of the industry illustrate the potency of the buyers and
suppliers participating in the market
- Value chain analysis in the report
provides a clear understanding of the roles of stakeholders involved in
the value chain
DATA ANALYTICS
OUTSOURCING MARKET SEGMENTATION
The market is segmented on the basis
of type, application, vertical and geography.
MARKET BY TYPE
- Descriptive
- Predictive
- Prescriptive
MARKET BY
APPLICATION
- Sales Analytics
- Marketing Analytics
- Risk & Financial Analytics
- Supply Chain Analytics
- Others
MARKET BY
VERTICAL
- BFSI
- Telecom
- Retail
- Healthcare
- Media & Entertainment
- Others
MARKET BY
GEOGRAPHY
- North America
- Europe
- APAC
- LAMEA
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