Predictive analytics is a subset of advanced analytics that employs techniques such as artificial intelligence, machine learning, modeling, statistics, and data mining to generate future predictions.
A major reason driving the growth of the predictive analytics market is the growing demand for market insights from unstructured data such as documents, call center transcripts, email messages, social media material, and social networking sites. Only 20% of data in a company is structured, while the other 80% is unstructured. With the use of language processing technology and a number of analytical tools, the Predictive Analytics Market extracts insights from unstructured data. Companies can use these insights to understand client mindsets, purchase inclinations, and feelings in ways that structured data alone cannot predict. As a result, the growth of unstructured data is propelling the predictive analytics industry forward.
Predictive Analytics Market: Taxonomy
By Type:
Services
Managed Services
Professional Services
Solutions
By Type:
Services
Managed Services
Professional Services
Solutions
Financial Analytics
Risk Analytics
Customer Analytics
Marketing Analytics
Sales Analytics
Supply Chain Analytics
Network Analytics
Web and Social Media Analytics
By Deployment:
On-premises
Cloud-based
By Organization Size
Small and Medium Enterprises
Large Enterprises
By Verticals
Banking Financial Service and Insurance (BFSI)
Telecommunication and IT
Regional Insights into the Predictive Analytics Market
The global predictive analytics market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa based on geography. North America dominated the market and is expected to continue to do so for the rest of the projection period.
Background on the Predictive Analytics Market
Risk Analytics
Customer Analytics
Marketing Analytics
Sales Analytics
Supply Chain Analytics
Network Analytics
Web and Social Media Analytics
By Deployment:
On-premises
Cloud-based
By Organization Size
Small and Medium Enterprises
Large Enterprises
By Verticals
Banking Financial Service and Insurance (BFSI)
Telecommunication and IT
Regional Insights into the Predictive Analytics Market
The global predictive analytics market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa based on geography. North America dominated the market and is expected to continue to do so for the rest of the projection period.
Background on the Predictive Analytics Market
Oracle Corporation, SAP SE, Microsoft Corporation, SAS Institute, Inc., Fair Isaac Corporation (FICO), NTT Data Corporation, Tableau Software, Inc., Tibco Software, Inc., and Rapidminer, Inc. are among the market's leading players.
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