The Strategic Importance of Cloud Analytics for Competitive Advantage

1. The Strategic Importance of Cloud Analytics for Competitive Advantage According to a research report "Cloud Analytics Market by Offering ((Solutions (Advanced Analytics, Cloud Bl Tools), Deployment Mode (Public, Private, Hybrid)), Services), Data Type, Data Processing (Real-Time Analytics, Batch Analytics), Vertical and Region - Global Forecast to 2029" by MarketsandMarkets, the cloud analytics market is expected to expand at a compound annual growth rate (CAGR) of 27.1% from USD 35.7 billion in 2024 to USD 118.5 billion in 2029. Cloud analytics uses the power of the cloud to transform data analysis and storage. Businesses can obtain actionable insights that are essential for both SMEs and large corporations by storing and analyzing data in the cloud. This method makes it easier to spot trends, forecast future events, and obtain insightful knowledge. Cloud analytics provide a chance to reduce procurement and maintenance costs while combining data and turning it into useful intelligence. For quicker analytics, it entails using both cloud-stored data and the cloud's quick processing capacity. But cloud infrastructure gives businesses access to scalable, solutions for safe, effective data processing and storage that allow them to fulfill big data demands and spur innovation. By offering the services segment to account for higher CAGR during the forecast period The growing use of data-driven decision-making across industries has led to the services section of the cloud analytics market experiencing impressive growth. These services give companies the ability to quickly and effectively analyze enormous volumes of data stored in the cloud, allowing them to derive insightful information for strategic planning, optimization, and innovation. Analytics services can handle a variety of data types and analytical workloads thanks to the scalability and flexibility of cloud infrastructure, enabling businesses to extract actionable knowledge from their data instantly. The demand for cloud analytics services is anticipated to rise as companies continue to place a high value on agility and competitiveness, spurring additional innovation and growth in the cloud analytics market. Your Success Blueprint: Downloadable PDF on Game-Changing Business Opportunities By Type, advanced analytics solution is expected to hold the largest market size for the year 2024 Data-driven decision-making is changing as a result of the cloud analytics market's explosive growth in advanced analytics adoption. To gain deeper insights from their data, organizations in a variety of industries are increasingly using cloud-hosted advanced analytics tools. The increasing recognition that conventional analytics techniques are insufficient to handle the complexity of contemporary data ecosystems is the driving force behind this approach. With the use of AI, predictive modeling, and machine learning algorithms, advanced analytics can predict trends, find hidden patterns, and streamline company operations. Without having to make large upfront expenditures in hardware and software, businesses may access robust analytics capabilities by utilizing the scalability, flexibility, and affordability of cloud infrastructure. Consequently, the market for cloud analytics is seeing quick growth, propelled by sophisticated analytics' revolutionary ability to spur innovation, improve operational effectiveness, and obtain a competitive advantage in the data-driven economy of today. By Vertical, Healthcare & Life Sciences is projected to grow at the highest CAGR during the forecast period

2. The advent of cloud analytics is causing a revolutionary change in the healthcare and life sciences industries. In order to generate insightful conclusions and support well-informed decision-making, this technology combines enormous volumes of data from multiple sources, such as wearable technology, genomic data, and electronic health records. Organizations may now effectively manage and analyze large datasets that were previously difficult to handle thanks to cloud analytics' scalability, flexibility, and affordability. Healthcare practitioners and life sciences businesses can improve patient care, streamline clinical workflows, and expedite drug discovery processes by utilizing sophisticated analytics approaches like machine learning and predictive modeling. Additionally, cloud-based analytics makes it easier for academics, physicians, and other stakeholders to collaborate, which promotes creativity and propels improvements in population health management and personalized care. Cloud analytics is essential to maximizing the promise of data-driven healthcare and life sciences projects as the sector continues to embrace digital transformation. Asia Pacific is expected to grow at the highest CAGR during the forecast period Cloud analytics use is rapidly increasing in the Asia Pacific area, changing how companies make data-driven decisions. Cloud-based analytics solutions are being adopted by businesses in a variety of industries in order to improve operations, encourage innovation, and obtain useful insights. Furthermore, the need for real-time analytics that are accessible from any location has increased due to the widespread use of mobile devices and internet connectivity. Businesses and governments alike understand the strategic importance of using analytics to stay competitive in the global economy. As a result, the Asia Pacific region is becoming a key player in the global cloud analytics landscape as investments in talent development and cloud analytics technology increase. IBM (US), SAS Institute (US), Oracle (US), Google (US), Microsoft (US), Teradata (US), Salesforce (US), AWS (US), NetApp (US), Qilk (US), Sisense (US), SAP (Germany), Atos (France), Altair (US), Microstrategy (US), Tibco Software (US), Hexaware Technologies (India), Zoho (India), Rackspace Technology (US), Splunk (US), Cloudera (US), Domo (US), Hewlett Packard Enterprise (US), Incorta (US), Tellius (US), Rapyder (US), Hitachi Vantara (US), Board International (Switzerland), Ridge (Israel), Jaspersoft (US), Yellowfin (Australia), Deonodo (US), GoodData (US), Thoughtspot (US), and Infogain (US) are some of the major providers of cloud analytics software and services. These businesses have strengthened their positions in the cloud analytics market through collaborations, acquisitions, and product releases, among other organic and inorganic growth techniques. About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

3. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook. Contact: Mr. Rohan Salgarkar MarketsandMarkets™ INC. 1615 South Congress Ave. Suite 103, Delray Beach, FL 33445 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com