Software as a Service business analytics is a cloud-based model in which a third-party solution provider hosts tools of business analytics in a secure online location. SaaS-based analytics solutions provide services like dashboards and reports with affordable pricing.
SaaS management platforms helps customers to track every spending transaction, discover all instances of SaaS within their environment, measure utilization, document renewal dates and contract line-item content, and manage applications in a central system of record.
In recent years, with the continuously growing popularity of social media marketing, the need for social media analytics is also increasing. And this change is one of the major reasons that are driving the Saas-based business analytics software market worldwide.
The global SaaS-based business analytics can be applied to perform various tasks such as customer analysis, supply chain analysis, pricing analysis, marketing analysis, etc. SaaS is majorly used in the sectors including IT and telecom, retail, healthacare, manufacturing, BFSI, and others.
Many major companies such as Adobe Systems Incorporated, BRIDGEi2i Analytics, IBM Corporation, Microsoft Corporation, and Oracle Corporation, etc. are already dominating the market. For growth, some companies are seen performing inorganic strategies like mergers and acquisitions, collaborations etc. While some are doing organic growth strategies such as product launches or approvals etc.
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