The multichannel analytics market is expected to grow from $3.61 billion in 2014 to $9.89 billion by 2019, say analysts at the research firm, MarketsandMarkets.
By region, North America and Europe are expected to be the biggest markets in terms of revenue contribution, while Asia-Pacific, Middle East and Africa, and Latin America are expected to experience increased market traction, during the forecast period.
Multichannel analytics helps the business to dynamically organize the customer interaction data which is gathered via multiple channels into conceptual groups or clusters so that the emerging trends and patterns could be easily identified. These insights are derived from interactions occurring over different channels such as Web, call center, mobile, mails, campaigns and many more.
MarketsandMarkets broadly segmented the multichannel analytics market by solutions such as query and reporting, multidimensional analysis, visualization and data mining and predictive analytics. The multichannel analytics market is also segmented on the basis of applications such as customer retention and acquisition, cross-selling and up-selling, loyalty and customer experience management, campaign management, and sales and performance management.