Management decision is the process of improving decision making by using all available information to increase precision, consistency, and agility of decisions and making good choices taking known risks and time constraints into consideration. It is a process, or a set of processes used to improve and streamline action items. It makes use of different tools such as business rules, business intelligence, continuous improvement, artificial intelligence, and predictive analytics. It treats decisions as reusable assets and introduces technology at decision point to automate decision-making process. This decision may be fully automated or presented as possible choices for a human to select. Organizations which are dealing in financial services, banking, and insurance are integrating this software into their business process systems as well as their customer facing applications, which provides a significant growth to the management decision market growth.
Growth in need for faster operational decisions and rapid change in regulations across countries are the major factors that drive the growth of the management decision market. In addition, acceleration of return on investment for organizations fuel the growth of the market. However, resistance from the middle management to adopt management decision software hampers the market growth. Furthermore, adoption of big data and cloud computing in management decision software and increase in investments on analytics are anticipated to provide major opportunities in the market.
The management decision market is segmented into component, deployment mode, organization size, application, industry vertical, and region. In terms of component, it is bifurcated into solution and services. By deployment mode, it is segmented into on-premise and cloud. As per organization size, it is bifur cated into large enterprises and small & medium enterprises. By application, it is divided into synthetic collection management, customer experience management, fraud detection management, pricing optimization, credit risk management, and others. As per industry vertical, it is categorized into BFSI, retail & agriculture, IT & telecom, education, healthcare and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The key players profiled in the management decision market analysis IBM Corporation, Oracle Corporation, SAS Institute Inc., Fair Isaac Corporation, TIBCO Software Inc., Sapiens International., Pegasystems Inc., Sparkling Logic, Experian Information Solutions, Inc. and Equifax, Inc. Current and future market trends are outlined to determine the overall attractiveness of the market.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global management decision market along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about the key drivers, restraints, and opportunities and their impact analysis on the management decision market share is provided.
- Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the management decision industry.
- The quantitative analysis of the global management decision market size from 2018 to 2026 is provided to determine the market potential.
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KEY MARKET SEGMENTS
By Deployment Mode
By Organization Size
- Large Size Organization
- Small and Medium Size Organization
- Collection Management
- Customer Experience Management
- Fraud Detection Management
- Pricing Optimization
- Credit Risk Management
By Industry Vertical
- Retail & Agriculture
- IT and Telecom