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(I-SoftwareNews.Com, August 13, 2018 ) Market Overview:-
Predictive Analytics Market size is anticipated to witness growth over the forecast timeline owing to the emergence of e-commerce and the growing data traffic. Increasing demand for mobility and accessibility of cloud-based solutions coupled with the transformation from traditional business intelligence (BI) methods to help achieve high and advanced analytical techniques is offering several growth opportunities to the predictive analytics market.
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The predictive analytics technology is being utilized by several businesses as a useful tool for reducing risks associated with fraudulent claims and for surging marketing efficiency. It is mainly used by organizations to increase their bottom line and competitive advantage. The presence of interactive and easy-to-use software, availability of faster & cheaper computers, and rising adoption of innovative technologies are contributing to the growth of the Predictive Analytics Market. In addition, increasing volumes, data types, and the extraction of valuable insights by analyzing current data to help make predictions of future opportunities and trends is expected to fuel the industry growth.
Top Key Players:-
The key players in the predictive analytics market include IBM Corporation, SAP, Microsoft Corporation, SAS Institute, Oracle, Dell, FICO, Tibco Software, Alteryx, and RapidMiner. Considering the latest developments in the industry, organizations are eyeing on easier ways to bridge the data gap and inclining more toward more streamlined cloud platforms to boost the time to insights along with shrinking the barrier between internal and external data. IBM is offering several products under its predictive analytics portfolio –SPSS Modeler, SPSS Analytical Server, Analytical Decision Management, SPSS Data Collection, SPSS Statistics, SPSS Predictive Analytics Enterprise, and Social Media Analytics.
Market share calculation in this report is not done based on companies covered in it. The calculation of predictive analytics market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.
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Regional Segmentations: -
In the Asia Pacific region, predictive analytics market is expected to grow fast owing to the rapid developments in the economies such as China, India, and Japan. The need to provide real-time data analysis is contributing to the growth of the industry in the region. In addition, predictive analytics market has a huge growth potential due to the high adoption and implementation of the technology in various sectors such as BFSI, IT and telecommunications, and SMBs.
The U.S. is anticipated to dominate the predictive analytics market owing to the high adoption rate of cloud computing and several latest technologies. Technological advancements and massive data surge often faced by the organizations along with the growing demand for structured data are expected to drive the predictive analytics market in the region. Rising demand for prediction of consumer behavior and trends offer significant growth opportunities for the industry.
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Based on application segment, the predictive analytics market can be classified into risk management, networking management, sales and marketing management, human resource management, operations management, and supply chain management. In the risk management, the software can obtain potential areas of risk from the substantial number of data points collected by the organizations and going through them to detect risk and trends in the data which can influence the businesses. On implementation of these analytics solutions, organizations can quantify risk-related issues, evaluate, and formulate a course of action to reduce the risk factors.
End users in the predictive analytics market are in the BFSI, IT & telecom, energy, manufacturing, government & public, transportation & logistics, healthcare, travel, and hospitality sectors. In the BFSI sector, predictive analytics has several growth potentials owing to the enormous repositories of customer profiles and transactional data. In the IT and telecom sector, the predictive analytics market is anticipated to be the must-have technology owing to the complexity inherent in modern day cloud architectures along with the interrelations among architecture components.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Source: EmailWire.Com 
Source: EmailWire.com
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