Companies are very familiar with the application of analytics tools Enterprise Resource Planning (ERPs) such as Tally, SPSS for deriving financial statements and analyzing financial reports. However, the increasing competition and stricter regulations are making companies resort to advanced analytics to answer specific question and forecast future financial scenarios. Increasing demand for analytics in their business operations is also driving the finance divisions to adopt analytics aggressively to match, analyze and operate on the same technological level.
What is Financial Analytics?
Financial Analytics is the usage of advanced technological tools for analyzing financial reports and handling financial information to gain insights for informed decision making. Analytics use a business’s monetary data stored in data warehouses and examine potential revenue streams, minimizing costs, increasing operational efficiency and transforming this data into actionable information for the business. Also, analytics helps promotes transparency for stakeholders and the market place by providing information using visuals and charts rather than using spreadsheets for a clearer understanding. The divisions where analytics plays a fundamental role are regulatory risk management, credit risk management, model risk management, revenue growth management, operation management, accounting and financial reporting, treasury management, for planning, budgeting and forecasting.
Market Research and Market Trends of Financial Analytics Market
- Head fund managers and top investors are no longer solely relying on human expertise for basic information and are instilling intelligence tools for leveraging data to increase value. Novus is the world’s leading intelligence platform for investors. They provide solutions to over 200 top level managers who manage funds in excess of $2.5 trillion under client assets management. The intelligence system combines all the data under desired sectors until last access and verifies the data, enabling easier decision making using trustworthy sources rather than a rumor.
- Investments made by financial service company State Street Corp shows how companies are bolstering their businesses to implement technology for analyzing assets and to assess risk. State Street Corp announced its plans to acquire investment data and analytics software provider Charles River Systems Inc. for $2.6 billion. The top managers in the firm believe this move will hope to tighten competition with other firms who have used technology to better serve their clients.
- The demand for data analytics firms specializing in FinTech is suggesting a growing trend with companies like Krenditech Holdings and Coinbase receiving significant funding from finance providers and venture capitalists. Krenditech Holdings, company form the European Union (EU) recently received $110 million funding PayU, a leading financial services provider in growth markets, highlighting the importance for lending companies to infuse analytics into their operations. Coinbase, a digital currency wallet platform raised $108.1 million through a later venture capital. These companies are prime examples of a budding stage and growth stage companies, relaying the importance data analytics in finance at present.
Who are the Major Players in Financial Analytics Market?
The major vendors in the Dark Analytics market are IBM Corporation, SAP, Amazon Web Services, Micro Focus, Dell EMC, Microsoft, Ave Point, Apple Inc., Teradata, Symantec and others.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry supply chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.