Worldwide Management Decision Industry to 2026 - North America Is Expected to Hold a Major Share of the Market - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Management Decision Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Management Decision Market is expected to register a CAGR of 15.26% over the forecast period from 2021 - 2026.

Companies Mentioned

• IBM Corporation
• Oracle Corporation
• SAS Institute Inc.
• TIBCO Software Inc.
• FICO (Fair Isaac Corporation)
• Pegasystems Inc.
• SAP SE
• Actico GmbH
• Sapiens International Corporation
• Equifax, Inc.
• Scorto, Inc.
• Experian Information Solutions, Inc.
• Sparkling Logic, Inc.
• InRule Technology, Inc.
• DMC Dubai (Decision Management Consultants)

Key Market Trends

BSFI is Expected to Hold Significant Share

• Even in the digital world, various companies must meet risk management and compliance requirements. The financial and insurance industries are particularly affected by credit risk assessment, fraud detection, anti-money laundering, and digital handling of insurance claims, which are just a small selection of typical decision management use cases. Management decision solutions provide the methods and technologies to comprehensively digitalize the corresponding checks and calculations, store them centrally, and execute them consistently and automatically in all systems and business processes. Financial transactions need to be audit-proof, and transparency and traceability are central aspects of management decision solutions.
• Digital transformation and mobile banking have considerably changed communication between customers and companies. Instead of static mass communication, customers want frequent updates based on their specific requirements and situation. Be it for services or product information, customers expect the digital channels to provide the same level of customization as is available with their trusted bank advisors. ING Germany, a Dutch multinational banking and financial services corporation, opted for a combination of predictive analytics, big data, and business rules management to implement the customer's next best action requirements. Predictive analytics ensures the selection of the correct database. Big data enables the processing and use of large amounts of data in real-time, and business rules management decisions to select and control optimal content.
• In February 2020, Milliman, Inc., a global actuarial and consulting firm, and Enova Decisions, a financial technology and analytics company, announced a strategic collaboration to bring the latest advanced analytics to insurers. The coalition brings together Milliman's deep domain expertise and data resources and Enova Decisions' real-time analytic capabilities, giving insurers an innovative platform for retaining customers, optimizing sales operations, and maximizing current and future value customers. Also, PNC Financial Services Group Inc. combined IBM Operational Decision Manager and IBM Business Automation Workflow software for the automation of 50 business processes and put more than five million automated business rules in production.

North America is Expected to Hold Major Share

• The North American region houses the presence of significant players such as Oracle Corporation, IBM Corporation, and SAS Institute, Inc., to name a few. The emergence of robust management decision models made different types of organizations in the North American region opting the solutions for supply chain optimization, customer management, debt collection, fraud, and financial inclusion. For instance, in 2019, Procter & Gamble (P&G), an American multinational consumer goods corporation, has optimized its consumer product transitions with the help of a management decision solution, saving millions of dollars and allowing it to reduce time spent on initiative planning. The supply chain innovation has boosted analytic efficiency by 90%, reducing the weekly analysis time to less than five minutes.
• In April 2020, FICO announced the 2019 winners of the FICO Decisions Awards, which recognize organizations achieving remarkable success using FICO management decision solutions where a significant number of North American companies were winners. For instance, BNSF Railway, one of the largest freight railroads in North America, has optimized its management of assigned train crews, allowing it to significantly reduce operational costs while complying with all union, industry, and company regulations. Discover's PULSE Network, one's of the USA's leading debit/ATM networks, has dramatically improved its fraud detection, blocking 30% more fraud, increasing the value-detection rate 40%, and improving the false-positive ratio by 25%.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

4.1 Market Overview

4.2 Industry Attractiveness - Porter's Five Force Analysis

4.3 Assessment on the impact due to COVID-19

5 MARKET DYNAMICS

5.1 Market Drivers

5.1.1 Increasing need for business agility which requires faster and efficient decision making

5.2 Market Restraints

5.2.1 High monetary cost involved for the implementation

6 MARKET SEGMENTATION

6.1 By Component

6.2 By Deployment Type

6.3 By End-User Industry

6.4 Geography

6.4.1 North America

6.4.2 Europe

6.4.3 Asia Pacific

6.4.4 Latin America

6.4.5 Middle East and Africa

7 COMPETITIVE LANDSCAPE

7.1 Company Profiles

8 INVESTMENT ANALYSIS

9 FUTURE OF THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/js6f8g