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The latest report by IMARC Group, titled “Financial Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global financial analytics market size reached US$ 9.3 Billion in 2021. Financial analytics helps in collecting, monitoring, visualizing, analyzing and predicting data for evaluating the financial performance of a department or company and making better decisions. It also enables companies to determine uncertain risks and helps in enhancing and extending their business processes more effectively. Financial analytics utilizes analytical tools and business intelligence (BI) for budgetary control, compliance and risk management, and asset and liability management.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Financial Analytics Market Trends:
In recent years, financial analytics has gained immense popularity across the globe as it helps in shaping up future goals; enhancing decision-making strategies; measuring and managing tangible assets such as cash and equipment; providing an in-depth insight into the organization’s financial status; and improving the cash flow, profitability, and business value. Besides this, financial analytics affects all parts of a business as a subset of business intelligence and enterprise performance management. It plays a crucial role in helping companies to predict and plan for the future. Furthermore, the transformation of businesses and advancements in technologies from big data to data warehouses and customer analytics software have also prompted various firms to use financial analytics around the world. Looking forward, the market value is projected to reach US$ 17.5 Billion by 2027, expanding at a CAGR of 11.39% during 2022-2027.
Market Summary:
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