Management decision software has been adopted in large enterprises and has become an integral part of these large-scale organizations to sustain in the competitive market. Moreover, large enterprises prefer implementing software and services that are expected to guide them in increasing their profits, due to this reason the use of management decisions has increased.
Jersey City, New Jersey, Dec. 02, 2021 (GLOBE NEWSWIRE) — Verified Market Research recently published a report, “Management Decision Market” By Component (Software and Services), By Function (Credit Risk Management, Collection Management, Customer Experience Management), By Deployment Type (Cloud and On-Premises), By Industry Vertical (Energy and Utilities, Government, Healthcare and Life Sciences), and By Geography. According to Verified Market Research, the Global Management Decision Market size was valued at USD 4,056.28 Million in 2020 and is projected to reach USD 11,451.72 Million by 2028, growing at a CAGR of 14.07% from 2021 to 2028.
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Browse in-depth TOC on “Management Decision Market”
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126 – Tables
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Global Management Decision Market Overview
Decision Management is an approach that improves day-to-day business operations. It increases an organization’s business agility and adaptability by making its system easier to monitor and change. An organization’s agility is directly improved by leaner business processes and the ability to adjust or alter decision-making using business rules. In today’s world, organizations face a host of challenges. Implementation of Management Decisions helps organizations comply better with the ever-changing and stringent regulations.
Organization objectives that used to be straightforward now involve trade-offs between risk, resource constraints, and opportunity costs. Decision-making has become multi-dimensional, encompassing corporate and organization unit objectives as well as market characteristics. As firms expand their businesses beyond their local borders, there is increased regulation, including complex regulations involving additional stakeholders, factors, and approval/governance processes. There is an increased uncertainty as new business opportunities emerge and market conditions change rapidly.
The major factor that restricts the market growth is the resistance of middle management to adopt Management decision software. Agility requires a different way of working and traditional hierarchies can often be a major challenge. Middle management is a barrier to agile adoption. Agile culture and mindset may involve a less hierarchical, command-and-control structure, creating a challenge for organizations, especially in handling middle management.
The major players in the market are Sapiens, Oracle, FICO, SAS, TIBCO, IBM, Experian, ACTICO, Pegasystems, and Equifax.
Verified Market Research has segmented the Global Management Decision Market On the basis of Components, Function, Deployment Type, Industry Vertical, and Geography.
- Management Decision Market, By Components
- Deployment and integration
- Support and maintenance
- Management Decision Market, By Function
- Collection Management
- Customer Experience Management
- Fraud Detection Management
- Pricing Optimization
- Credit Risk Management
- Management Decision Market, By Deployment Type
- Management Decision Market, By Industry Vertical
- Banking, Financial Services, and Insurance (BFSI)
- Energy and Utilities
- Healthcare and Life Sciences
- Retail and Consumer Goods
- Telecom and IT
- Transportation and Logistics
- Management Decision Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
- North America
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