Global Predictive Analytics Market is Expected to Grow at a CAGR of More Than 20.3% by 2027: Says Absolute Markets Insights
Predictive analytics market is increasing demand for real time solutions assisting in enterprises' overall financial activities
PUNE, India, March 12, 2019 /PRNewswire/ -- Predictive analytics has been helping the C-suite in various organizations to use existing data and identify trends for accurate financial planning, demand forecasting and budget related decision making. Organizations operating in the predictive analytics market have been developing solutions catering to various domains of an industry. SAP SE, a German multinational software corporation is one of the major contributors. SAP's Predictive Analysis Tool has recently integrated SAP HANA, which offers number of possibilities by using complex and heavy algorithms. It assists in cash flow management by forecasting cash requirements to avoid liquidity crisis and improve receivables management. Further, it can be leveraged to detect financial risks by establishing baseline criteria to identify outliers before company's overall performance is damaged.
A conscious use of predictive analytics reduces a variety of costs, by detecting the possibilities of underperformance. On a similar line, the technology assists in building performance reports. These financial reports incorporate a variety of data before predicting the final facts and figures, which aid in deriving actionable insights. Multiple firms from predictive analytics market are undertaking innovations to upgrade the use of technology, in the sphere of finance across different industry verticals. A leading retail bank, implemented Datameer's predictive analysis to efficiently analyze attributes and terabytes of data within a significantly short span of time. The predictive analysis of data from multiple sources for over 300 attributes, which encompassed sub-prime loans data, acquired wealth management data, and data from legacy retail banking systems among others, was discreetly carried out using the solution. Furthermore, the technology aided in ensuring the quality of the data and in timely reporting of risk profiles to investors and regulatory agencies. Predictive analytics, thus is largely contributing towards ease of scrutinizing petabytes of data generated to draw effective strategical conclusions.
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"Spending on predictive analytics – How helpful? Predictive analytics market providers are optimistically affecting FinTech sector. Established financial companies like Payoneer and PayPal are integrating predictive analytics in their business models, which have helped these firms to identify potential fraudsters. The technology has taken a fundamental position in the domain. Furthermore, predictive analytics also highlights immense capability to be integrated across other major business activities."
The detailed research study provides qualitative and quantitative analysis of the global predictive analytics market. The predictive analytics market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further, across all the major countries. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East, Africa, and Latin America.
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Key Findings of the Report:
- 58.6% of predictive analytics market was contributed by large enterprises in 2018, owing to the access of massive array of data and increasing focus on drawing strategic interventions
- Application in risk management is anticipated to be the most attractive market following the increasing reliability on tracking upcoming trends using the past data.
- Among the regions, Asia Pacific is estimated to demonstrate the most lucrative market over the forecast period owing to the rising deployment of predictive analytics in BFSI sector in the region.
- Key players functioning in predictive analytics market include IBM Corporation SAS Institute Inc., Amazon Web Services, Inc., BOARD International, and RapidMiner, Inc. among others
- In the contemporary period, organizations operating in the predictive analytics market are integrating predictive analytics solutions into enterprise software which includes business intelligence platforms, ERP systems and other digital analytics software.
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o By Offering
o Solution
o Services
- Managed Services
- Professional Services
- Support and Maintenance
- Consulting
- Training
o By Methodology
o Time Series Analysis
o Regression
- Linear
- Logistics
o Decision Trees
o Machine Learning
o By Application
o Financial
o Risk Management
o Marketing
o Sales
o Customer Relation
o Web and Social Media
o Supply Chain
o Network
o By Deployment
o On Cloud
o On Premise
o By Organization Size
o Small and Medium Enterprises
o Large Enterprises
o By Vertical
o Banking, Financial Services, and Insurance
o Telecommunications and IT
o Retail and Ecommerce
o Healthcare and Life Sciences
o Manufacturing
o Government and Defense
o Energy and Utilities
o Transportation and Logistics
o Others
o By Region
o North America
- U.S.
- Canada
- Mexico
- Rest of North America
o Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
o Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
o Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
o Latin America
- Brazil
- Argentina
- Rest of Latin America
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Absolute Markets Insights assists in providing accurate and latest trends related to consumer demand, consumer behavior, sales, and growth opportunities, for the better understanding of the market, thus helping in product designing, featuring, and demanding forecasts. Our experts provide you the end-products that can provide transparency, actionable data, cross-channel deployment program, performance, accurate testing capabilities and the ability to promote ongoing optimization.
From the in-depth analysis and segregation, we serve our clients to fulfill their immediate as well as ongoing research requirements. Minute analysis impact large decisions and thereby the source of business intelligence (BI) plays an important role, which keeps us upgraded with current and upcoming market scenarios.
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