In essence, data analytics is the science of analyzing data sets to find trends, answer questions and draw conclusions. It is a varied and complex field that often relies on specialized software, algorithms and automation, which goes hand in hand with Artificial Intelligence. (a market also analyzed by Baker Tilly).. The objective is to help individuals or organizations to make informed decisions based on patterns, behaviors, trends, preferences...
Some of the benefits of data analytics are as follows:
The steps in the data analysis process can be summarized in five:
In short, the sector is already a consolidated market as shown by the activities and figures, but this does not mean that it is not a sector with a great future and potential due to the number of development opportunities that exist in it and the new companies with new ideas that are created every day.
Financing has skyrocketed in the last year 2021, thanks to the greater relevance and specialization of this sector. It has more than doubled the financing of 2020, showing an increasingly consolidated sector, but with a lot of future ahead, auguring a more than promising future.
In terms of acquisitions, 2021 has also been a record year, almost doubling the previous year's figure. It makes clear a more than upward trend in the sector taking into account that 2021 has been a special year and hardly surmountable (for the moment) in terms of number of operations.
There are 220 companies that have completed an IPO in the Data Analytics sector. In 2021 there has been a peak of 30 companies, more than twice as many as in 2020. The latter are companies listed on the US stock exchange and are, unsurprisingly more established companies. Companies specializing in Big Data, Information Technology or Business Development. The most recent have been American companies such as Planet (Aerospace), Wejo (Car data), Braze (Customer Engagement).