Financial Analytics Market Future Opportunity and Growth Analysis Report to 2030

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Financial Analytics Market Future Opportunity and
Growth Analysis Report to 2030
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• Industry Insights

• Financial analytics help organizations to
  streamline their business requirements without
  the need to depend on multiple management
  solutions. As both small and large-scale
  businesses are focusing on reducing overall
  expenditure and improving their decision-making
  strategies, the demand for financial analytics
  tools and services is expected to soar with time.
• Some of the key benefits of these tools include
  optimization of data workflow, improving
  productivity and financial visibility, and risk
  mitigation. Businesses are also adopting
  analytics tools to simplify the overall
  management of cash flow.
• Increasing dependence on advanced analytics
  solutions to track outstanding invoices will
  offer a boost to the global financial analytics
  market in the coming years.

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• Cloud computing has significantly transformed
  businesses in recent years. Traditionally,
  financial planning analysis (FPA) software was
  deployed on-premise to deal with budgeting,
  forecasting, and financial reporting. However,
  cloud-based solutions are rapidly replacing these
  methods due to their ability to connect to larger
  big data sources as compared to on-premise
  counterparts.
• Cloud-based financial solutions also offer users
  easy access from any location along with
  simplifying collaboration, scalability across
  enterprises, and cost-cutting. Technology
  sophistication and growing penetration of
  artificial intelligence (AI), and machine
  learning (ML) will further drive user inclination
  to cloud financial analytics tools.
• Fintech firms and banks across the world are
  heavily investing in financial analytics tools
  for transaction monitoring. The rising prevalence
  of financial crimes is boosting the demand for
  anti-money laundering strategies based on machine
  learning models.
• Estimates claim that, in 2021, the total cost for
  financial crime compliance was approximately
  49.9 billion in the U.S. and Canada, up by 58
  from 2019. Effective software and tools enable
  transaction monitoring alerts and amplify
  suspicious matter report (SMR) conversion rates.
  This helps organizations to predict anti-money
  laundering (AML) scenarios and mitigate
  associated risks.

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• Competitive Analysis

• Global Financial Analytics Market growth will be
  positively affected by the notable presence of
  reputed organizations, such as Alteryx, Inc.,
  Fair Isaac Corporation (FICO), Hitachi Vantara
  Corporation, GoodData Corporation, IBM
  Corporation, Microsoft Corporation

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