Product ID: SQMIG45F2122
Global Operational Intelligence (OI) Market Size, Share, Growth Analysis, By Deployment Type(Cloud, On-Premise), By End-User(Retail, Manufacturing) - Industry Forecast 2024-2031
Report ID:
SQMIG45F2122 |
Region:
Global |
Published Date: February, 2024
Pages:
227
|
Tables:
72 |
Figures:
75
Global Operational Intelligence (OI) Market Insights
Operational Intelligence (OI) Market size was valued at USD 2.3 billion in 2019 and is poised to grow from USD 2.55 billion in 2023 to USD 6.13 billion by 2031, growing at a CAGR of 11.08% in the forecast period (2024-2031).
Operational intelligence (OI) is a data collecting analytics technology that uses automated data collection techniques such as machine learning (ML), artificial intelligence (AI), and data warehousing to monitor business processes and activities in real-time. Scalability, on-demand report generation, complicated event processing, and dashboards and visualizations are among its primary characteristics. It provides greater insights into the operation of IT systems and detects patterns of network activity to prevent data breaches.
OI is being utilized in conjunction with big data to provide key performance indicators (KPIs) and operational metrics. OI apps are largely aimed at front-line employees who, with timely business intelligence (BI) and analytics data, are able to make better-informed business decisions and respond to issues more promptly. Call center agents, sales reps, online marketing teams, logistics planners, manufacturing managers, and medical experts are just a few examples. Operational intelligence can also be used to automatically trigger responses in response to specific events or conditions.
OI is used to monitor huge volumes of data and assure vital financial system uptime. This, combined with a high amount of real-time data creation, is one of the primary reasons driving the Operational Intelligence (OI) Market growth. Furthermore, it is used in the logistics industry to acquire real-time insights into supply chain processes.
Increased patient-centric care is encouraging the use of OI in the healthcare industry to optimize resources and expedite workflows. Aside from that, small and medium-sized enterprises (SMEs) are combining OI with social media platforms to detect new trends and attract a larger audience. It is also used to simplify data acquired from an organization's IT infrastructure, allowing operators to make quick and reliable decisions. Other factors expected to contribute to market expansion include the expanding e-commerce industry and the increasing number of security breaches.
US Operational Intelligence (OI) Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Operational Intelligence (OI) Market Report Snapshots
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