Skip to main content

Financial Analytics Market Growth to be Fuelled by Advancements in Technology

 
Financial analytics is extensively used for research in the equity and corporate bond markets. It plays a central role in the fundamental analysis of any business. Fundamental analysis of businesses implies investigating its financial statements and health, competitive advantages, management, competitors and markets. Financial analytics assist businesses in implementing Business Intelligence and analytical tools to obtain accurate insights from the financial data that is required in formulating business decisions. The Banking, Financial Services and Insurance (BFSI) sector is employing financial analytics for improving standard financial functions namely asset and liability, general ledger, budgetary control, payable, governance, receivable, profitability, compliance management and risk.
 
The development of innovative business models such as business-to-employee, business-to-consumer and business-to-business has extended new opportunities for financial analytics. Additionally, due to technological development and its influence on business processes in an organization along with high degree of automation in financial department for different financial transactions, is expected to drive the market growth.
 
Thus, with changing technological environment, modern approach to financial data analysis is required across all types of industry verticals. The financial analytics market is developing swiftly owing to enhanced technologies in business analytics and BI and extended focus on data transparency. Moreover, increasingly rising data intensity and use of financial analytics as competitive differentiator is driving the financial analytics market.
Security concern and large number of business dimensions are the primary obstructions in the financial analytics market growth. These barriers are restraining the business enterprises to implement financial analytics to support a broad range of applications. Demand for cloud analytics is the next big thing coming in the market and extends enormous opportunity for financial analytics. The advent of cloud computing has pushed the financial planning to a new level and is expected to have long term impact on the financial analytics market. Companies such as host analytics Inc., offer cloud service based financial analytics to the business organizations.
 
The market for financial analytics is segmented by type, application, deployment type, and industry verticals. Types include data integration tools, Database Management System (DBMS), query, OLAP and visualization tools, reporting and analysis, analytical solutions, consulting and support services and others. Application segment comprises of assets and liability management, payables management, budgetary control management, profitability management, receivables management, governance and risk and compliance (GRC) management. Deployment type includes on-premise and cloud based. Industry verticals include banking, financial services and insurance (BFSI), healthcare and life science, consumer goods and retail, government, transportation and logistics, manufacturing, travel and hospitality, media and entertainment, telecommunication and IT, public sector and energy and utilities.
 
Some of the major players in this industry segment are SAP A.G., International Business Machines Corporation (IBM), Oracle Corporation, TIBCO Software Inc., and MicroStrategy Inc., are active vendors in the market. These vendors offer financial analytics either in the format of individual solutions or incorporated into business intelligence suites. Some other companies in this market include Deloitte Touche Tohmatsu Limited, Hitachi Consulting Corporation, Information Builders, Fair Isaac Corporation (FICO), Microsoft Corporation, Symphony Teleca Corp., Teradata Corp, Tableau Software Inc., Rosslyn Analytics Ltd. and SAS Institute Inc. among others.

Comments

Post a Comment

Popular posts from this blog

Global Thin Wafer Processing and Dicing Equipment Market - A cutting-edge technology, industry survey and new business opportunities 2024

Global Thin Wafer Processing and Dicing Equipment Market: Overview Rising demand for three dimensional integrated circuit used extensively across various miniature semiconductor devices is one of the important factor anticipated to boost the demand for thin wafer processing and dicing equipment in the coming years. Three dimensional integrated circuit are increasingly adopted across various space constrained applications including portable consumer electronic devices, sensors, MEMS and industrial products as it increases the overall performance of the products in terms of speed, durability, low power consumption, light weight and memory. Moreover, three dimensional integrated circuit also helps to reduce the area of consumption in a printed circuit board and in turn enables extensive cost reduction. Thin wafer of thickness 20 um – 50 um is an integral part of the three dimensional integrated circuit technology. Thus, anticipated increasing demand for three dimensional integra...
1 comment
Read more

Data Science Platform Market Set to Witness Significant Growth in the Coming Years

Data Science Platform Market: Overview Big data, advance analytics and predictive modeling are now becoming indispensable part of business houses, who are striving to optimize decision-making and deliver value to customers. With rise in enormous data generated in various digital platforms and corresponding increase in use of various data analytics tool the phrase “data science platform” has been tossed around about a lot recently. Data science platforms are supposed to be an arena where plethora of various data scientists works are collected. In colloquial term, data science platform terms defines that it provides various algorithm integrated with analytical tools that help data analyst to cluster and explore data from varied sources, and further design and implement models. These models sought from data science platform helps in framing decisions and strategies. Data science platform assist wide array of various suite of tools that is being introduced subsequently implemented ...
Post a Comment
Read more

Harbor Management System Market: Market Scope and Size by Application

Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Harbor management software assists in maintaining the safety and security of vessels. Certain type of this harbor management software has a facility wherein it can trace vessels near the harbor within a specific range. The vessels can be viewed through graphics. This helps harbor managers in identifying if a vessel is in the wrong location or if the vessel’s location information is incorrect. Through the graphical overview, harbor managers can also recognize if the vessels are moving toward each other, which can lead to a collision and can alert the vessels to divert their route a bit from t...
Post a Comment
Read more