Pune, India -- (SBWIRE) -- 02/16/2019 -- Data science is a technology used for analyzing large amount of data. It is the analysis for source of information, content of the information and how that information could be transformed into a valuable asset for creating business opportunities and information technology strategies. Data science includes data discovery, which uses the data inference and exploration techniques. It also uses mathematical and algorithmic methods for solving complex business problems and discover hidden information. Data science helps companies to intelligently operate and develop strategies derived from evidence-based analytics. Patterns are identified between organized and unorganized data.

The Global Data Science As A Service Market is accounted by 2026 growing at a CAGR of +35% during the forecast period.

Data science is helping companies to improve the efficiency, determine market opportunities. There are various components of data science such as tactical optimization, predictive analytics, nuanced learning, recommendation engines and automated decision engines. Data science uses the predictive modeling, attribution modeling and segmentation modeling techniques for analyzing the information.

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Using the cloud infrastructure, data science as a service is delivering the information by reducing the costs required for resources and infrastructure. Also, resources are utilized as and when they are required further reducing the costs for an organization. Growing service industries are completely reliant on customer feedback and behavior. Big Data technologies provide tremendous growth opportunities for data science as a service market as large amount of data must be processed using new tools and techniques within the cost and time constraints.

Key Market Players Profiled in the Report are:
Microsoft Corporation, International Business Machines Corporation, SAS Institute, Inc., SAP SE, RapidMiner, Inc., Dataiku SAS, Alteryx, Inc, Fair Issac Corporation, MathWorks, Inc, and Teradata, Inc.

Key players in the Data Science As A Service market have been identified by region and the emerging products, distribution channels and regions are understood through in-depth discussions. Also, the average revenue of these companies, broken down by region, is used to reach the total market size. This generic market measurement is used as part of a top-down process to assess the size of other individual markets through a secondary source catalog, a database, and a percentage of basic research.

The report does not consider open source platforms such as R and Python and it only evaluates commercial data science platform vendors. Furthermore, the market is classified based on type into solutions and services. The market is also classified based on end user into banking, financial services, and insurance (BFSI); telecommunication; transportation & logistics; healthcare; manufacturing, and others. The market is analyzed based on four regions-North America, Europe, Asia-Pacific, and LAMEA.

Advanced technology in big data and increasing demand for public cloud are some of the key factors favoring the market growth. However, strict government regulations are hampering the market. Data explosion and huge investment costs are major challenges in the market.

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The key impacting factors of the data science platform market include data explosion, realization of importance of data science by organizations, increase in data collection & analysis from mobile devices, advancement of big data technologies, growing concern of data security & protection, and high initial investments. These factors have significantly contributed to the growth of the data science platform market and are anticipated to impact the market growth during the forecast period.

This report includes a study of the data science platform market with respect to growth prospects and restraints based on the regional analysis. The study includes Porters five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

The study is a source of reliable data on:
- Key market segments and sub-segments
- Evolving market trends and dynamics
- Changing supply and demand scenarios
- Quantifying market opportunities through market sizing and market forecasting
- Tracking current trends/opportunities/challenges
- Competitive insights
- Opportunity mapping in terms of technological breakthroughs

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