What is Self-Service Analytics?
Self-service analytics (SSA) is a type of business intelligence (BI) that allows business users to access, explore, and analyze data on their own, without needing to rely on IT or data analysts for help. This is done through user-friendly tools and interfaces that are designed to be easy to learn and use, even for people with no prior experience with data analysis.
The Self-Service Analytics market is projected to grow from USD 4.1 Billion in 2023 to USD 17.0 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.2% during the forecast period (2023 - 2032).
Key Players
- Tableau Software (U.S)
- Microsoft Corporation (U.S.)
- IBM Corporation (U.S.)
- SAP SE (Germany)
- Splunk (U.S)
- Syncsort (U.S)
- Crimson Hexagon (U.S)
- Alteryx (U.S)
- SAS Institute (U.S)
- TIBCO Software (U.S.)
- Oracle Corporation (U.S.)
- Vista equity partners (U.S)
- DrivenBI (U.S)
Drivers
The burgeoning demand for analytics in data interpretation is likely to boost market growth over the forecast period.
Other factors adding market growth include the collective need for in-depth competitive insights, increasing investments in developing economies, cooperative, customizable, and simpler end-user interfaces, quick deployment options like cloud based solutions and applications, simple and enhanced provision for data analysis features, stress free access to base data for reporting and analysis, and growing need for accurate data.
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Benefits of Self-Service Analytics
There are many benefits to using self-service analytics, including:
- Faster decision-making: Business users can get the insights they need quickly and easily, without having to wait for reports from IT or data analysts. This can help businesses to make better decisions more quickly.
- Improved accuracy: By allowing business users to access and analyze data themselves, self-service analytics can help to reduce the risk of errors that can occur when data is manually entered or processed by IT.
- Increased data literacy: When business users have easy access to data and the tools they need to analyze it, they become more data-literate. This can help them to make better decisions in all areas of their work.
- Empowered employees: Self-service analytics gives employees the power to find the information they need to do their jobs more effectively. This can lead to increased job satisfaction and productivity.
- Reduced costs: Self-service analytics can help to reduce the costs associated with traditional BI, such as the cost of hiring and training data analysts.
Restraints
Factors such as security and privacy concerns, the high cost of deployment, lack of proper data, and reluctance of companies for some instances of technical misspecifications may act as market restraints over the forecast period.
Market Segmentation
The MRFR report throws light on an inclusive analysis of the global self-service analytics market based on deployment, application, and industry vertical.
- By Deployment
By deployment, the global self-service analytics market is segmented into on-request and on-premise.
- By Application
By application, the global self-service analytics market is segmented into the board and acquisition, inventory network, activities of the executives, prescient resource support, hazard and consistency of the executives, the board, extortion and security, client commitment and examination, and deals and showcasing.
- By Industry Vertical
By industry vertical, the global self-service analytics market is segmented into energy and utilities, transportation and coordination, media and amusement, fabricating, medical care, government and protection, telecom and IT, retail and web-based business, and BFSI.
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Regional Analysis
North America to Remain Driving Force in Self-Service Analytics Market
North America is predicted to remain the driving force in the market over the forecast period. Early adoption of latest technologies, the presence of key players in the region, the presence of a well-developed IT sector, and high focus on innovations obtained from technology and R&D are adding to the global self-service analytics market growth in the region.
APAC to Have Promising Growth in Self-Service Analytics Market
The APAC region is predicted to have promising growth over the forecast period. The rapid adoption of latest technologies across different industry verticals, increasing adoption of IoT and smart technologies, and the various government initiatives for upcoming projects like smart cities across APAC countries including India and China are adding to the global self-service analytics market growth in the region.
Industry Updates
June 2021- Cloudera Inc. will soon acquire SaaS companies Cazena and Datacoral. The additions of these two companies will support the public cloud offering of Cloudera and expand its market opportunity as the company will move beyond big data to self-service.
Other Related Reports:
Self Service Analytics Market Size
Self Service Analytics Market Analysis
US Self Service Analytics Market
Self Service Analytics Market Trends
Self Service Analytics Market Share
Self Service Analytics Companies
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