Self-service analytics encompasses tools and platforms that enable business users to explore and analyze data independently rather than relying on IT or data analysts to generate reports or dashboards. These tools often have user-friendly interfaces, drag-and-drop capability, and other features that allow users to build visualizations quickly and reports from data sources such as spreadsheets, databases, and other data repositories.
Self-service analytics is a rapidly growing trend in data analysis and business intelligence. As making decisions based on data becomes more vital for success, organizations must empower their employees to access and analyze data promptly. Some of the key factors responsible for the growth of the self-service analytics market include ease of use of analytics tools, self-service analytics tools have intuitive interfaces for non-IT professionals, and drag-and-drop functionality that allows users to build visualizations and dashboards quickly. Self-service analytics tools are typically less expensive than traditional business intelligence solutions. By giving business users direct access to data, self-service analytics tools help democratize data within organizations, enabling more people to make data-driven decisions. As data volumes and complexity grow, businesses are looking for tools to help them make sense of their data. Self-service analytics provides a way for businesses to unlock insights from their data which owes to demand in the self-service analytics market.
The COVID-19 pandemic had a positive impact on the self-service analytics market. The pandemic highlighted the need for businesses to quickly access accurate data and insights to make informed decisions in a rapidly changing environment. As a result, there has been an increased demand for self-service analytics tools that allow non-technical users to access and analyze data quickly. In addition, technological advancements like AI and machine learning also result in the increased demand for self-service analytics.
North America is one of the significant markets for self-service analytics, driven by the presence of major vendors and high adoption rates among enterprises. Europe and Asia Pacific are the fastest-growing markets for self-service analytics, driven by the increasing adoption of cloud-based solutions and the growing need for real-time data analysis.
Major players in the self-service analytics market are investing heavily in research and development to introduce new actuators to the market which are more reliable and efficient. They also adopt various strategies such as collaboration, merger, product launch, and acquisition. For instance, in November 2022, IBM launched new software, Business Analytics Enterprise, which consists of analysis tools, including budgeting, planning, reporting, dashboards, and forecasting, for users to make data-driven decisions quickly and navigate unpredictable disruption.
By Deployment Type
IT & Telecom
Retail & E-commerce
Energy and Utility
Media & Entertainment
Middle East & Africa
TATA Consultancy Services Limited
TABLEAU SOFTWARE, LLC,
Cloud Software Group, Inc.
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