Transparency Market Research delivers key insights on the global management decision solutions market. In terms of revenue, the global management decision solutions market is estimated to expand at a CAGR of ~11% during the forecast period 2020-2030, owing to numerous factors regarding which, TMR offers thorough insights and forecasts in its report on the global management decision solutions market.
In the current market scenario, data-driven decision making is highly critical at every stage of the customer lifecycle. Growing digitization and extensive adoption of the Internet have led to huge data collection. However, enterprises across industries struggle to take decisions that have meaningful business impact.
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Management decision solutions enable an organization to integrate analytics with the database for decision making. The solutions automate the decision-making process. Financial services, retail, and the healthcare industry, which majorly use customer-facing applications generate a very high volume of data. This data is integrated with the analytical platform, which enables a more efficient, information-based, and consistent response to events. These industries are early adopters of management decision solutions due to their ability to manage a high volume of data and to conclude decisions in the most efficient and effective manner. The report analyzes the global management decision solutions market and provides estimates in terms of revenue (US$ Mn) from 2018 to 2030.
Key Growth Drivers of Management Decision Solutions Market
Increase in adoption of cloud-based technologies: The key driver of the global management decision solutions market is increasing the adoption of cloud technologies such as SaaS (Software as a Service). The demand for cloud-based management decision solutions is increasing globally. Cloud-based software and solution services provide better access and can be accessed by mobile devices as well. Cloud-based management decision solutions enable companies to improve and simplify their resource management functions compared to other business technologies. Cloud-based solutions are automated and further improve accuracy and efficiency. Cloud-based management decision solutions have the ability to provide self-service, which reduces the excess burden on management to make decisions. Such solutions are highly secured, as data is not lost when computer/system/laptop crashes. This solution allows management or other authorities to access organizational resource-related information at any location and at any time.
Focus on improving operational efficiencies through automated solutions: Real-time insights are gained through management decision solutions. This helps organizations to identify when and which resource has to be maintained as well as when to replace them. These solutions are data-driven i.e it uses data from different sources (internal & external) and make the decision accordingly. Management decision solutions integrate advanced analytics, decision modeling, and AI in an open and extensible architecture, and help managers to take reliability-centered data into account during the design phase. Management decision solutions optimize the processes for the day-to-day operation of resources, maximize production capacity, and minimize costs by running them to peak performance and minimizing downtime as much as possible. The solutions enable full visibility of the business, as enabled by on-demand access to the right information at the right time. The increasing need to improve operational efficiency is a major factor driving the market. Management decision solutions provide real-time monitoring, updates, and alerts related to assets and resources. Thus, an increase in the number of resources, their effective analysis, and reduced operational cost are the major factors projected to fuel the growth of the management decision solutions market.
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Industries aim to increase revenue and profitability, which require efficient decision-making. Thus, by using management decision solutions, organizations can improve performance and utilize resources, reduce operational risk, and monitor the data on a real-time basis.
Management Decision Solutions Market: Prominent Regions
In terms of region, the global management decision solutions market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold significant share of the management decision solutions market in 2019, and this trend is expected to continue during the forecast period 2018 to 2030. Within North America, the U.S and Canada are anticipated to drive the growth of the market. This is due to the strong adoption levels of cloud-based technologies by small & medium enterprises in the regions, and high focus on cost optimization. All the regions have the most competitive and rapidly changing markets in the world for improving the strategy of management decision solutions and its adoption in organizations.
The management decision solutions market in Asia Pacific is expected to reach the value of US$ 2,216.2 Mn by 2030 from US$ 518.8 Mn in 2020, expanding at a CAGR of 15.6%. According to the Global Survey of Speech Analytics & Conversational Service Automation, in the year of 2019, the interest with regard to analytics and applications for conversational AI within enterprises was approximately 59% for Asia Pacific. The strong interest with regard to enterprise level analytics is a major reason for the highest CAGR of Asia Pacific within the management decision solutions market. The management decision solutions market in Europe is expected to reach value of US$ 2,701.5 Mn by 2030 from US$ 691.1 Mn in 2020, expanding at a CAGR of 14.6%. Business intelligence, which includes decision making within the European market, is predicted to expand at a CAGR of 9.6% between the period 2018-2026. The U.K., France, Germany, Italy, and Spain are the key contributors within the region, whereas the U.K. and Germany account for the largest market share within the intelligent platform integration for decision making for Europe.
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Management Decision Solutions Market: Key Players
Key players operating in the global management decision solutions market include ACTICO GmbH, Decision Management Solutionss, Decision Time Ltd, Equifax, Experian Information Solutionss, Inc., Fair Isaac Corporation (FICO), IBM Corporation, OpenRules, Oracle Corporation, Parmenides, Pegasystems, RapidGen Software Ltd, RIB Datapine GmbH, SAP SE, Sapiens International Corporation, SAS Institute, Inc., Scorto, Inc., Sparkling Logic, and TIBCO Software Inc.
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