In spite, organizations apply all kinds of data and analytics solutions, but they are still unable to meet their business goals. Organisations are continuously in search of better and faster ways to get more business value from the data. Business users demand new data analysis to keep pace with competitors. Insights-as-a-service addresses this problem which is a software service that delivers actionable insights. Insights-as-a-Service is generally a cloud-based offering, but in some cases, professional services are also the part of the services offered. Insights-as-a-Service connects to multiple data sources to deliver insights.
SaaS offerings and Insights-as-a-service differ, wherein, SaaS offerings provide analytics along with insights while Insights-as-a-service provides action plans. Insights-as-a-service is similar to cloud-based services which not only provide insights to business corporations but also help organisations with insights to achieve their business goals.
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Market drivers & challenges:
Due to the growth of big data, companies need to get customer insights in order to sell their products and services. Companies also need to extracts insights on the ROI. These factors drive the Insights-as-a-service market as it help to gain the insights thereby improving the overall business outcomes.
Insights-as-a-services market is driven by the need for businesses to scale up large amount of statistical data and gain insights in order to figure out future steps that need to be taken by the businesses. The need for customer lifecycle management by many software organizations to retain customers also drives Insights-as-a-Service market.
Many small and medium scale enterprises are moving towards adopting cloud based Insights-as-a-services as they offer many advantages such as quick response & improved decision making, and customer satisfaction, which result in faster growth in revenue which is one the major driver for the growth of Insights-as-a-service market.
Global Insights-as-a-Service market: Segmentation
Global Insights-as-a-Service Market is segmented based on the application type, vertical and region.
On basis of application global Insights-as-a-Service market can be segmented to Revenue cycle management, Customer Life Cycle/ relationship management, category management, Branding and Marketing insights, supply chain management and others.
On the basis of vertical global Insights-as-a-Service is segmented into BFSI, retail, telecom, healthcare, energy, education, automobile, public sector and others.
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On basis of region, global Insights-as-a-Service market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
North America region is dominant in Insights-as-a-Service market due to growing demand from large enterprises and big data companies in North America and followed by Western Europe during the period. Asia-Pacific region is expected to grow at a faster rate during the forecast period.
Key Market Players:
Some of the Key players in Insights-as-a-Service market include IBM Corporation, Dell EMC, Capgemini SA, Deloitte & Touche LLP, Accenture LLP, Oracle Corporation and NTT Data Corporation.
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