Albany, NY -- (SBWIRE) -- 05/30/2019 -- Process analytics is the combination of tools and methods implemented to process instances, data, and models to support decision-making in organizations. In modern days process data is stored across systems, applications, and services in the enterprises. Process analytics analyzes the completed processes and their model's behavior. Process analytics evaluates current undergoing process instances. Process analytics predicts the behavior of process instances in the future. Process analytics discovers meaningful patterns in process execution data. Process analytics provide visibility into the complex business process. Process analytics helps in correlating data across various data sources and also rapidly onboard new data sources as the underlying process changes. Process analytics contributes in analyzing the data in real time.
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Process Analytics market: Drivers and Challenges
Process analytics are implemented in the end to end process of the organizations to identify the gaps and enhance the process for better results. Process analytics are deployed either by on-premise or through the cloud. Process analytics used through cloud reduces the hardware purchase cost and maintenance cost. Process analytics, when deployed by cloud, helps the small and medium enterprises to concentrate on R & D activities.
Data privacy and security is the primary challenges for process analytics market. When deployed by cloud bandwidth limitation is one the challenge for process analytics. Complex system structure, lack of integration with legacy systems are also the challenges for process analytics market.
Process Analytics market can be segmented as follows:
On the basis of Types
- Software
- Service
On the basis of Deployment Models
- On-premises
- On-demand
On the basis of Industry Verticals
- BFSI
- Telecommunications and IT
- Retail and e-commerce
- Government and defense
- Healthcare
- Manufacturing
- Energy and utilities
- Construction and engineering
- Others(Education, research, travel and hospitality, and outsourcing services)
Process analytics market: Regional Outlook
On the basis of regions, Process analytics market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.
North America and Western Europe Process analytics market is predominantly mature as compared to the other regional market as they are fast in the adoption of technology. Process analytics market in Asia Pacific excluding Japan and Japan are expected to possess maximum potential in the forecast period. Process analytics market in Latin America and Middle East and Africa are also projected to witness positive growth during the forecast period.
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Process analytics market: competition landscape
Key Vendors for process analytics market include, Microsoft Corporation, Oracle Corporation, SAP SE, Splunk Inc, Verint Systems Inc, SAS Institute, Tableau Software Inc, Alpine Data Labs, MicroStrategy Incorporated, IBM Corporation
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