Uploaded on Jan 16, 2023
Augmented Analytics Market
Augmented Analytics Market
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Increasing Demand in Businesses to
Predict the Future Outcomes Led by
Data Visualization Proliferates
Augmented Analytics Market
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In 2021, the augmented analytics market generated $8,854.7 million, and it is projected to
contribute $78,229.7 million in 2030, advancing at a 27.4% rate from 2021 to 2030, attributed to
the growing importance of the data collection and preparation, that results in rising profits of the
companies.
Moreover, APAC is predicted to experience the highest sales in the augmented analytics market in
the near future, due to the penetration of the key industry players. In addition, the increased
adoption of AI technologies and Business Intelligence in India is projected to grow tremendously
causing a market boom. It is due to the surging requirement for the integration and data
management in the experiments performed by data scientists, in Indian enterprises, along with
real-time streaming data.
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North America captures the significant augmented analytics market share, accounting for 33.3%,
ascribed to the presence of key players in the industries, and massive research and development
activities in the region. In addition, the analytic software provides support in detecting the data
patterns in unstructured data and facilitates data insights, to make better decisions that increase
the business profitability.
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For example, IBM and Deloitte partnering together announced an AI-enables analytic solution, Dapper in October 2021. It
provides assistance to data scientists, and business users in the management of insight assets, along with creating and
organizing them to support reliable internal reporting and AI solutions to further help businesses to focus on core
competencies.
In addition, APAC is the next significant contributor to the augmented analytics market, led by the shift from conventional
enterprise reporting tools to augmented analytic tools in India, China, and Japan, to further boost data preparation and
cleansing.
The major IT cities of India such as Bengaluru, Mumbai, Chennai, and Hyderabad are experiencing a surge in investments
made by companies in the automation of data processing. For example, Subex Ltd. launched an end-to-end augmented
analytic platform. It facilitates the convergence of data into insights, by building, interpreting, and tuning AI models, and
further supports actionable insights delivery from the data.
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Moreover, augmented analytics uses emerging technologies such as natural language processing, advanced statistics, and
machine learning to derive actionable insights from the data. It also helps in analyzing present and past trends to make future
predictions, and resolve problems. It further helps in evaluating organizational analytics with the help of cutting-edge
modeling, and statistical tools.
For example, BI tools such as Power BIQlikView, MicroStrategy, SAP, and QlikSense provide metrics, dashboards, forecasting,
measure, budgeting, planning, scoreboard, and visualization technologies, along with graphs and advanced charts. It further
helps in developing reports by utilizing statistical methods to make predictions for future projects.
In addition, the software category holds the extensive augmented analytics market share, attributed to the presence of the
massive amount of data and its accessibility across all the sectors, along with the increasing requirement for augmented
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analytic solutions. It further helps in automating the comprehension processes, data analysis, and deriving insights by
simplifying the entire process. Moreover, it can also identify patterns, showcase trends, and visualization.
Therefore, the emergence of advanced technologies, such as AI, BI, ML, and NLP that derive actionable insights from the data
results in the market boom.
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