According to Market Research Future, the global BPO Business Analytics market has been segmented into component, deployment, organization size, application, vertical,and region/country. The global BPO business analytics market size is expected to register an exponential CAGR of 18.2% from 2021 to 2027
Business analytics, a data management solution and business intelligence subset, refers to using methodologies such as predictive analytics, data mining, and statistical analysis to analyze and transform data into useful information, identify and predict trends and outcomes, and ultimately make intelligent, data-driven business decisions.
The data volume across the BPO companies is growing exponentially with the advent of social media, the internet, and smartphone users. Business analytics is becoming more vital to analyze historical data to gain new insights and improve strategic decision-making. Ithelps BPO organizations maximize the value of their data, unearth insights, build plans and respond in real-time to customer demand.
Among the BPOs, business analytics is one of the major technologies being used to automate business processes. More BPO companies rely upon business analytics technology to make business more productive and offer a better customer experience. BPO businesses can highly profit from business analytics because of the volume of data they gather. By analyzing current data, BPO businesses can generate strategic insights for their clients and build better customer relationships. The rise of disruptive technologies has completely reshaped BPO-customer relationships now. The major application of business analytics technology is more prevalent in call centers. Call center speech analytics, call center desktop analytics, self-service analytics, predictive analytics, and text analytics are the five types of analytics in which predictive analytics has significant demand. The advantages of business analytics are it improves agent performance, improves customer experience, helps in cost reduction, creates new products and services, and speeds up decision-making.
The application of business analytics in the BPO industry is making a significant impact. With the applications of analytics, the companies are significantly leveraging their revenue by using sophisticated tools and techniques for statistical surveying, root-cause analysis, and optimization. Modern, high-quality business analytics software solutions are developed to ingest and process the vast datasets that businesses encounter and can use for optimal business operations.
The BPO business analytics market is expected to gain significant revenue from the various continents during the projected period. The geographic analysis of the global BPO business analytics market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is classified into the US, Canada, and Mexico. Europe is classified into the UK, Germany, France, and the Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and the Rest of Asia-Pacific.North America holds the leading share within the market; this can be attributed to the rapid digitalization across the BPO companies.The Europe region holds the second position in the global market in terms of revenue. The UK, Germany, and France are the major growth engines of the market.Asia-Pacific is expected to grow with the fastest CAGR rate during the forecast period. The region has seen a rapid boom the market growth owing to the digitalization among the BPO sector.
Accenture PLC (Ireland), Capgemini SE (France), Cognizant Technology Solutions (US), Exlservice Holdings Inc. (US), Genpact Limited (US), International Business, Machines Corporation (US), Infosys Limited (India), Mu Sigma Inc. (India), NTT DATA Corporation (Japan), TATA Consultancy Services Limited (India), Tech Mahindra Limited (India), Wipro Limited (India), Dell Technologies Inc. (US), Fujitsu Ltd. (Japan), and Hewlett Packard Enterprise Development LP (US) are the key companies operating in the global BPO business analytics market.
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BPO Business Analytics Market Research Report: Information by Component (Software and Services), Deployment (Cloud-Based and On-Premises), Organization Size (SMEs and Large Enterprises), Application (Finance & Accounting, Human Resources, Knowledge Process Outsourcing, Procurement & Supply Chain, Customer Services, and Others), Vertical (BFSI, IT and Telecommunication, Healthcare, Manufacturing, Retail, Transportation and Logistics, and Others), and Region (North America, Europe, Asia-Pacific, South America, and Middle East & Africa) – Forecast to 2027
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