Data Analytics in KSA
Data analytics is a crucial component in the decision-making process of organizations. It is to identify patterns and trends in data, which can then be translated into actionable insights that lead to better outcomes. According to Statista report, the data analytics market will increase at a CAGR of 13.4% between 2022 and 2029, from USD 271.83 billion in 2022 to USD 655.53 billion by 2029. Banking, Government, Media & Entertainment, Healthcare, and Education, e-commerce are just a few industries worldwide that rely on rapid analytical solutions.
The Saudi government is determined to exploit data analytics to monitor and forecast the performance of the country's economy. The Saudi Data and AI Authority (SDAIA) and the Ministry of Economy and Planning have signed an agreement to explore how AI and data analytics can enhance national policymaking and economic expansion. It will enable Saudi Arabia to remain on the cutting edge of technological advancements in data analytics and artificial intelligence, thereby supporting Saudi Vision 2030. The Kingdom is inclined to develop futuristic data management and utilization capabilities to support growth, security, and economic well-being.
Private companies, who have access to large amounts of data, are able to use this information for their own profit. Public sector organizations are more interested in using analytics for social good and decision-making.
Conclusion
AMC does recognize this as an opportunity to support the clients on Data Analytics and it is a critical part of AMC's business portfolio. Visit AMC.com to get in touch with AMC for deeper market insights essential to shareholders or decision-makers of the company.