Dark analytics is the analysis of dark data present in the enterprises. Dark data is generally is referred as raw data or information buried in text, tables, figures that organizations acquire in various business operations and store it but, is unused to derive insights and for decision making in business.
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Organizations nowadays are realising that there is a huge risk associated with losing competitive edge in business and regulatory issues that comes with not analysing and processing this data. Hence, dark analytics is a practice followed in enterprises that advances in analysing computer network operations and pattern recognition.
Dark analytics solution incorporates a system which allows users to develop end-to-end data pipelines to tackle extraction, integration, and prediction of data by machine learning techniques. Valuable insights from this data are gained by solving statistical inference problems at massive scale. Dark analytics assist in recognizing better unused opportunities mainly in sales and marketing processes by analysing customer behaviour insights.
Dark Analytics Market: Drivers and Restraints
Extracting insights for decision making by immediate analysis of real-time information from key business processes such as sales, production and distribution trends is the major factor driving the growth of dark analytics market. Moreover, factors such as gaining insights from and making the most of every data point, efficiency in terms of time, money and resources in processing unstructured data, and aid to minimise the accumulation of dark data by transforming it into valuable real time information are also some key factors resulting in the growth of dark analytics market.
However, security concerns and risks associated with data, and data storage costs are some factors restraining the growth of dark analytics market.
Dark Analytics Market: Segmentation
Dark analytics market can be segmented on the basis of analytics type, dark data type, end-user, and region wise. On the basis of analytics type market can be further segmented into predictive, prescriptive, diagnostic and descriptive. On the basis of dark data type it can be categorized into business, customer and operational dark data. In the end user type, dark analytics market is categorized into BSFI, Government, Retail and E-commerce, Travel and hospitality, and others. Region wise global dark analytics market can be segmented into North America, Europe, Asia-Pacific, Middle East and Africa and Latin America.
Dark Analytics Market: Regional Overview
North America is the biggest market for dark analytics market followed by Europe to ensure compliance of business processes and legal issues. Asia Pacific region is expected to show significant growth in the dark analytics market due to emerging start-ups and rise in adoption of analytics in enterprises. Latin America and Middle East regions are showing a considerable growth in this market owing to adoption of data driven strategies in business processes.
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Dark Analytics Market: Key Players
IBM Corporation, Deloitte, SAP SE, Teradata, Hewlett-Packard, EMC Corporation, VMware, Inc., Microsoft Corporation, are some of the key players in dark analytics market.
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