Management Decision is a set of processes that involves all aspects of designing, building, and managing automated decision-making models. Decision-making systems are developed on the basis of these models that help an organization to make a fact-oriented decision to improve its business performance and customers, employees & supplier’s interactions. There are various approaches of achieving management Decision strategies such as autocratic decision-making, participatory decision-making, consensus-based decision-making, and democratic decision-making. Majority of the management Decision tools and techniques help businesses to make data-based decisions. Management Decision is a part of analytically assisted decision making.
All the businesses are focused on quality of decisions as these decisions directly influence the quality of business operations. With management Decision systems, the decisions add value to a business through data, regulations, and market dynamics evaluations. Thus, surge in need for business agility and faster operational decisions is a major factor that drive the growth of the market during the forecast period. Moreover, rapid changes in government and industry regulations across countries propel the adoption of management decision software and its related services at a significant rate. This is attributed to the operational decision automation feature offered by management decision software that helps organizations to focus on decision modelling, execution, and managing operational decision automation as a complete decision-making methodology. However, lack of availability of skilled professionals with sufficient knowledge limits the market growth to a certain extent. Furthermore, ongoing partnership & product launches between major companies anticipate the growth of the management Decision market in the coming years.
The management decision market is segmented into component, deployment model, function, organization size, industry vertical, and region. By component, it is bifurcated into software and services. By deployment model, it is divided into on-premise and cloud. By function, it is classified into credit risk management, customer experience management, compliance management & fraud detection, pricing optimization, and others. By organization size, it is categorized into small & medium sized enterprises and large enterprises. By industry vertical, it is segregated into BFSI, IT & telecom, retail & e-commerce, healthcare, manufacturing, energy & utilities, government, automotive, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the management decision market include Tibco Software, Fair Isaac Corporation, Salesforce.com, Inc., IBM Corporation, SAS Institute Inc., Oracle Corporation, Manthan Software Services Pvt. Ltd., Sapiens International, ACTICO GmbH., and Experian Information Solutions, Inc. These major players have adopted various key development strategies such as business expansion, new product launches, and others, which help drive the growth of the global management decision market.
KEY BENEFITS FOR STAKEHOLDERS
- This study includes the management Decision market analysis, trends, and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities of the market.
- The management Decision market size is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the management Decision market.
KEY MARKET SEGMENTS
BY DEPLOYMENT MODEL
- Credit risk management
- Customer experience management
- Compliance Management & Fraud Detection
- Pricing optimization
BY ORGANIZATION SIZE
- Small and Medium Sized Enterprises
- Large Enterprise
BY INDUSTRY VERTICAL
- IT and Telecom
- Retail and E-commerce
- Energy and utilities
- North America
- ·Rest of Europe
- ·South Korea
- ·Rest of Asia-Pacific
- ·Latin America
- ·Middle East
Key Market Players
- Tibco Software
- Fair Isaac Corporation
- Salesforce.com, Inc.
- IBM Corporation
- SAS Institute Inc.
- Oracle Corporation
- Manthan Software Services Pvt. Ltd.
- Sapiens International
- ACTICO GmbH.
- Experian Information Solutions, Inc.