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(I-SoftwareNews.Com, March 21, 2018 ) Global Prescriptive Analytics Market Vertical, and Regional Market Size, Status and Forecast to 2025
Prescriptive analytics is the other name of business analytics, which includes descriptive and predictive analytics that seek to provide optimal recommendations during a decision making process and determines ways in which business processes should be modified. Benefits of prescriptive analytics include – reduced risk, increases revenue, high efficiency, gross margin management, cost reduction, automatic adjustment of sales price, and direct and measurable impact on the return on investment.
The prescriptive analytics ecosystem comprises solutions and service providers such as IBM Corporation (U.S.), FICO (U.S.), River Logic, Inc. (U.S.), Ayata (U.S.), Angoss Software (U.S.), Profitect (U.S.), Frontline (U.S.), Panoratio (Germany), TIBCO Software (U.S.), and NGData (Belgium).
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Prescriptive analytics is related to both descriptive and predictive analytics. While descriptive analytics aims to provide insight into what has happened and predictive analytics helps model and forecast what might happen, prescriptive analytics seeks to determine the best solution or outcome among various choices, given the known parameters.
However, prescriptive analytics is not fail proof, but is subject to the same distortions that can upend descriptive and predictive analytics, including data limitations and certain unaccounted-for external forces. The effectiveness of prescriptive analytics also depends on how well the decision model captures the impact of the decisions being analyzed.
Access More Details at http://www.kminsights.com/reports/global-prescriptive-analytics-market--by-data-type--structured--unstructured--semi-structured---business-function--marketing--finance--operations--hr--sales---organization-size--large-enterprises--small-and-medium-organizations---component--software--services---deployment-model--cloud-based--on-premise---application--network-management--risk-management--operation-management--workforce-management--revenue-management--supply-chain-management---vertical--and-regional-market-size--status-and-forecast-to-2025-170175
The major driver for Prescriptive Analytics Market is development in advanced technologies such as Internet of Thing (IoT) and big data and rising status of real time accessibility of data for effective business applications has powered the growth of prescriptive analytics market.
However, high cost of investment, complex analytical workflow, data integrity and safety concerns and lack of trained professional is restraining the prescriptive analytics market.
Market Dynamics:
Market Drivers
1.1 Increasing cybercrimes and need for crime prediction and prevention
1.2 Need of advanced business intelligence tools
1.3 Rising investments in big data infrastructure
1.4 Increasing adoption of big data technologies and IoT
1.5 Emergence of real-time accessibility of data for efficient business operations
Market Restraints
2.1 Poor knowledge about advanced analytics among the workforce
2.2 Diversity of data models based on business needs
2.3 Poor adoption of advanced analytics technology
2.4 Operational complexities
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Source: EmailWire.Com 
Source: EmailWire.com
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