If you are thinking of upskilling with a business analytics online course or a data analytics training program then you will be pleased to know that the market situation of analytics is looking bright even during a global economic slowdown. According to a survey report by the Reportlinker.com, the global cloud analytics market will grow at the rate of 20.06% CAGR to reach USD 47,982.30 Million by the end of 2025!
Isn’t the global economy under a lot of stress and is expected to contract? Well yes!
So, when the entire global economy is expected to experience slowdown, how come analytics is doing so good?
The answer to this question lies in the fact that there is a rising urgency for digital transformation and during the lockdown this urgency has increased several-fold. The entire world had to experience some kind of lockdown due to the outbreak of Covid-19 and even now several parts of the world are under several lockdown restrictions. This has forced enterprises to conduct important business activities online as employees has to work from home. However, companies who are yet to embrace digital transformation could not continue conducting business and even semi-digitized firms suffered a lot of problems.
The business organizations that had an existing cloud analytics platform in place emerged the real winners in this scenario.
Cloud analytics platforms helped organizations to keep track of changes, managing the supply chain efficiently and seeking new business opportunities. And all that working from home as cloud business analytics allows remote access.
This is why companies who already had a digital business strategy in place driven by business analytics, now are focusing on cloud analytics and investing more on it. Others, who had not yet adopted analytics are now more than eager to embrace it. Sensing the opportunity some companies are going even further to acquire entire analytics companies. For instance-
Synopsys Inc. acquiring Qualtera
Synopsys Inc. is the world’s 15th largest software company and is a global leader in electronic design automation and semiconductor IP. Recently the firm announced that it is going to buy semiconductor analytics company Qualtera. Qualtera is an analytics provider for semiconductor test and manufacturing and is also one of the fastest growing company in that sector. Synopsys is acquiring Qualtera in order to make its own products like Synopsis Yield Explorer and TestMAX gets more powerful with the perks of advanced analytics solutions offered by Qualtera.
Salesforce acquired Tableau
American cloud-based software company and customer relationship management solution provider acquired Tableau for an undisclosed amount on August,2019. Salesforce is considered to be among the top ten cloud vendors and is currently ranked #3 just behind Microsoft and Amazon. Tableau is the provider of a leading business analytics software platform of the same name and is considered one of the best when it comes to GUI based software suits for seamless business analytics online course. A lot of customers of Salesforce were in the middle of digital transformation. When Salesforce was able to offer Tableau, which is an easy to use analytics platform, it made the digital experience of the same customers richer as they are able to make great decisions based on cloud-based analytics.
Both Salesforce and Synopsys are looking very strong at the moment and are expected to be at a competitive advantage over rivals!
Data analytics is reshaping the banking industry of the world!
One of the key industrial sectors of the world is the banking sector. It determines the strength of the economy of a country and if it fails then the entire economy comes crashing down. And data analytics is proving to be highly beneficial for major banks around the world.
Banks have access to a lot of both internal and external data which when analysed efficiently through data analytics can provide deep insights. These deep insights can be used for product development, customer service and growth. More importantly data analytics helps in making the smarter decisions and also with cyber security. In a continuously digital environment, Banks are very much eager to deploy analytics solutions. Quantizig is a global data analytics firm which is smartly utilizing the importance of analytics in banking by offering tailor made analytics tools for banks. For instance, its advanced financial risk analytics solutions help banks in calculating financial risks with the help of a predictive analytics model. The model allows banks to get rid of unnecessary risks and non-compliant activities seamlessly and thus is a huge success.