Scaling Up: Organization Size and the Advanced Analytics Market
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The Global Advanced Analytics Market is anticipated to grow from USD 35.3 billion in 2023?to USD 96.4 billion by 2030, registering a CAGR of 22.3% during 2025-2030. Advanced analytics refers to the complicated examination of data that is used to foresee trends and predict events. It examines the increasing big data and identifies patterns to generate deeper insights using cutting-edge methods such as machine learning and artificial intelligence (ML and AI), as well as complex statistical analysis and algorithms. To find relationships, trends, correlations, and outliers, advanced analytics employs both quantitative and qualitative methodologies. Data mining, machine learning, cohort analysis, cluster analysis, retention analysis, complex event analysis, predictive analysis, regression analysis, sentiment analysis, and time series analysis are all examples of advanced analytics techniques.
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Growth Drivers
Factors attributing to the growth of the market include rising innovations in machine learning and artificial intelligence to provide customized consumer experiences and an increased need to prevent fraudulent activities during the outbreak. Moreover, the increasing volume of organizational data, the mounting number of small and medium-scale enterprises in emerging economies, technological development in analytical tools, growing digital platforms, and the increasing advent of cloud technology will accelerate the growth of the advanced analytics market. Furthermore, the rising prominence of online shopping, increasing demand to counter Big Data challenges, and increased social network penetration will drive the demand for advanced analytics over the forecast period. The increased usage of advanced analytics to predict and forecast trading patterns, electricity consumption patterns, and traffic conditions will propel the growth of the market. Also, the increasing demand for IoT-based predictive solutions which aid in collecting and analyzing data from sensors like temperature sensors, motion sensors, air quality sensors, etc. with IoT networks will further bolster the growth of the advanced analytics techniques during the projected period.
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