New York, Sept. 02, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Predictive Analytics Market by Business Functions, Application Models, Organization Size – Global Opportunity Analysis and Industry Forecast, 2014 – 2022” – https://www.reportlinker.com/p05955156/?utm_source=GNW
Predictive analytics is the use of data, statistical algorithms, and machine learning techniques to detect the likelihood of future outcomes based on historical data. Predictive analytics evaluates the patterns in data to determine if those patterns are likely to emerge again, which allows investors or businesses to amend the use of their resources to take advantage of possible future events. In addition, predictive analytics uses machine learning, data mining, and different business intelligence (BI) tools to make estimations about the future market trends. The techniques of predictive analytics is essential for companies to maintain a competitive edge over others.
Increase in adoption of Big Data analytics across various industries such as BFSI, retail, and manufacturing to gain valuable insights and surge in demand for statistical analysis due to the generation of massive volume of unstructured data from the various organizations majorly drives the growth of the predictive analytics market. In addition, surge in demand for data science and predictive modeling boosts the growth of the market. However, lack of skilled staff and high implementation cost are expected to hamper the growth of the market. Conversely, emergence of advanced technologies such as IoT and AI are expected to provide major opportunities for the growth of the predictive analytics market in the next few years.
The global predictive analytics market is segmented into component, deployment, enterprise size, industry vertical, and region. By component, it is divided into solution and services. Solution segment is further categorized into customer analytics, financial analytics, marketing, network analytics, risk analytics, supply chain analytics, web & social media analytics, and others. Depending on deployment, it is segregated into cloud and on-premises. According to enterprise size, the predictive analytics market is fragmented into large enterprises and small & medium enterprises. As per industry vertical, it is differentiated into BFSI, retail, IT & telecom, healthcare, government, manufacturing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global predictive analytics market analysis are Alteryx, Inc., Fair Isaac Corporation, Information Builders, International Business Machines Corporation, KNIME, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., and TIBCO Solution Inc.
KEY BENEFITS FOR STAKEHOLDERS
• The study provides an in-depth analysis of the global predictive analytics market along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analyses on the market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global predictive analytics market from 2019 to 2027 is provided to determine the market potential.
KEY MARKET SEGMENTS
o Customer Analytics
o Financial Analytics
o Risk Analytics
o Marketing & Sales Analytics
o Supply Chain Analytics
o Network Analytics
o Web & Social Media Analytics
By Enterprise Size
• Large Enterprises
• Small & Medium Enterprises (SMEs)
By Industry Vertical
• IT & Telecom
• North America
o Rest of Europe
o Rest of Asia-Pacific
o Latin America
o Middle East
KEY MARKET PLAYERS
• Alteryx, Inc.
• Fair Isaac Corporation
• Information Builders
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• SAS Institute Inc.
• TIBCO Software Inc.
Read the full report: https://www.reportlinker.com/p05955156/?utm_source=GNW
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