RADAR Market Analysis and Forecast, 2014-2020 Market Size of Financial Analytics Forecast Report | Seite 2

Report
Description
Report Description
Financial analytics is extensively used for research in the equity and corporate bond markets. It
plays a central role in the fundamental analysis of any business. Fundamental analysis of
businesses implies investigating its financial statements and health, competitive advantages,
management, competitors and markets. Financial analytics assist businesses in implementing
Business Intelligence and analytical tools to obtain accurate insights from the financial data that
is required in formulating business decisions. The Banking, Financial Services and Insurance
(BFSI) sector is employing financial analytics for improving standard financial functions namely
asset and liability, general ledger, budgetary control, payable, governance, receivable,
profitability, compliance management and risk.
The development of innovative business models such as business-to-employee, business-toconsumer and business-to-business has extended new opportunities for financial analytics.
Additionally, due to technological development and its influence on business processes in an
organization along with high degree of automation in financial department for different financial
transactions, is expected to drive the market growth. Thus, with changing technological
environment, modern approach to financial data analysis is required across all types of industry
verticals. The financial analytics market is developing swiftly owing to enhanced technologies in
business analytics and BI and extended focus on data transparency. Moreover, increasingly rising
data intensity and use of financial analytics as competitive differentiator is driving the financial
analytics market.