Outsourcing has become a common strategy used by businesses of all shapes and sizes. The following two reports explore the business outsourcing market.
Outsourcing refers to the process of hiring a third-party vendor or service provider to perform work for a company. According to some reports, more than 2.3 million jobs were outsourced in 2015. Analysts expect this number to grow even higher in the future, as outsourcing offers a myriad of benefits for businesses.
Among the most notable benefits of outsourcing is cost-savings. Hiring employees here in the U.S. can cost big bucks, but businesses can hire employees overseas for a fraction of the cost.
According to the Data Analytics Outsourcing Market by Type (Descriptive, Predictive and Prescriptive), Application (Sales Analytics, Marketing Analytics, Risk & Financial Analytics, Supply Chain Analytics and Others) and Vertical (BFSI, Telecom, Retail, Healthcare, Media & Entertainment, Others) - Global Opportunity Analysis and Industry Forecast, 2014 - 2020 report by Allied Market Research, the global outsourcing market is expected to grow at a compound annual growth rate (CAGR) of 29.1% through the forecast period to reach $5.9 billion by 2020. As explained by the authors, there's been an "exponential increase" in data generated by enterprises over the past few years. Rather than analyzing this data themselves, many companies are outsourcing this task to analytics companies elsewhere. It's a cost-effective solution that saves money, reduces labor needs, and increases the company's total profits.
Some of the key data analytics outsourcing vendors profiled in this report include Fractal Analytics Ltd, Tata Consultancy Services Ltd., ZS Associates, Inc., WIPRO Ltd., Opera Solutions, and Mu Sigma, Inc. and others.
The Strategic Focus Report – Business Process Outsourcing report by Wise Guy Reports is a second comprehensive report on the business outsourcing market, although it covers the entire business process outsourcing market rather than just the data analytics sector. The report provides an in-depth analysis of the market, complete with revenue opportunities, market size, growth (by technology, region, sector and size band), investment priorities and more.
Within this report, you'll also find information on the latest trends affecting the business process outsourcing market, including market drivers on both the supply and demand side; market inhibitors that may result in slow growth, and the top ICT vendors in the market along with their respective forecast data. In essence, this is a comprehensive and professionally researched report on the business process outsourcing market.
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