New York, U.S., Nov. 14, 2022 (GLOBE NEWSWIRE) — The Global BPO Business Analytics Market Size was valued at USD 16.8 Billion in 2021, the market is expected to grow by USD 71.60 Billion in 2030, at a CAGR of 22.06%. BPO business analytics, which is a subset of data management and business intelligence solution, refers to the use of processes or approaches such as predictive analytics, data mining data science and statistical analysis to analyze, summarize and transform data into meaningful information, identify and predict trends and outcomes, and ultimately make logic and research-based decisions to succeed in the business world. Region Covered: North America (US, Canada), Europe (Germany, UK, France, Spain, Italy and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, Rest of Europe) Asia-Pacific) and Rest of the world (right-of-way)

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Many companies are interested in BPO not only for its skills and financial aspects, but also because it can provide almost immediate solutions. Many business analysis disciplines are already available in a way that can be applied to specific business situations today. Every business aspires to develop consistently and in the long term. However, as a business grows, it will face obstacles that could be seen as by-products of growth. Growing companies are discovering concepts such as Big Data, Cloud, mobile platforms and social media, which set them apart from their competitors. ITO and BPO have grown 34% at compound annual rates over the past five years and are expected to grow 24% annually for the next five years. Analytics service providers can help their customers become 360 ​​degree knowledge competitors. Initially, vendors primarily targeted professional services organizations, offering horizontal services such as business and financial research and analysis. Client organizations have often acquired separate services from the analytics service provider, such as research or analytics.

During the forecast period, sales of business analytics BPO services in the United States are expected to offer profitable revenue prospects. The growing demand for business analytics outsourcing from industries such as BFSI, retail, telecommunications, and healthcare is credited with North America’s dominance. Leading companies like IBM and Cognizant, to name a few, will continue to drive sales in the country. Models enabled the same instance of data to support batch analysis, interactive analysis, global messaging, database, and file-based models in various types of businesses across the country as fast processing increased.

Browse key industry information spread across 240pages with 83 market data tables and The figures & graphics of the report”Global BPO Business Analytics Market SizeShare & Trends, COVID-19 Impact Analysis Report, by Application (HR, Finance, Customer Service, Logistics, Sales & Marketing and Others), by Verticals (BFSI, Manufacturing, Healthcare, Retail, telecommunications and others), and by region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), analysis and forecasts 2021 – 2030”, in detail with the table of contents

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Due to the increasing rate of industrialization and increasing number of start-ups investing in business analytics solutions, the demand for business analytics BPO services in developing countries is likely to increase. Marketing, IT and data-rich companies are no longer the only ones using analytics. To gain competitive advantage, organizations across all industries and types, including industrial and FMCG companies, are gradually embracing analytics and investing both capital and operational resources in data science. .

Data analytics has become increasingly important in decision-making processes in the banking and financial services industry. Data volume and speed have become key variables in investment banks and other businesses that use real-time information. In such circumstances, Data Analytics comes into play when the volume and size of data exceeds the collection capacity of standard databases. Financial services firms face a rapidly changing disruptive marketplace that includes regulatory, cost and customer retention issues. The banking, financial services and insurance (BFSI) industry is one of the most enthusiastic users of analytics. Banks face a difficult environment due to economic uncertainty, an increasingly demanding consumer profile and regulatory challenges.

Additionally, the need for analytics solutions is driven by a greater demand for customer focus. In this environment, banks are quickly recognizing the value that advanced analytical skills can bring. On the supply side, advances in technology and human knowledge have enabled service providers to meet this growing demand from banks and perform tasks that were previously impossible. Service providers are rapidly expanding their capabilities, primarily through acquisitions and strategic alliances. During the projection period, the demand in the BFSI sector is expected to increase. Financial institutions are faced with changing customer needs, rigorous risk control and management, and increasing competition in a very dynamic market due to the spread of mobile devices and applications and the increased use of the Internet.

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The banking and financial sector is growing at a rapid pace. BPO business analytics services are used by banking and finance organizations to reduce risk, gain competitive advantage and ultimately drive profitability. The huge increase in the amount of data that needs to be reviewed and processed in banking and finance has made Big Data Analytics a must. In these industries, understanding the value of data science is essential and should be incorporated into all decision-making processes based on actionable insights from customer data. Big Data is also the next step to ensure highly responsive and secure banking and financial services to increase customer satisfaction. In this extremely competitive market, it is essential for companies to invest heavily in Data Analytics.

Key companies and recent developments: The report also provides elaborate analysis focusing on current business news and developments, including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This helps to assess the overall competition in the market. Companies covered: Accenture PLC, Capgemini SE, Cognizant Technology Solutions Corp, Concentrix, Exlservice Holdings Inc, Genpact Ltd, IBM Corporation, Infosys Limited, Mu Sigma Inc, NTT DATA Corporation, Tata Consultancy Services Limited (TCS), Tech Mahindra Ltd, Wipro Ltd, WNS Global Services and other 30+ top tier key players we added in the final report.

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BPO Business Analytics Market Dynamics, Impact of Covid-19 on the BPO Business Analytics Market, Vendor Profiles, Vendor Assessment, Strategies, Technology Assessment, Product Mapping, Industry Outlook, economic analysis, segmental analysis, BPO business analysis market sizing, analysis charts, etc.

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