Predictive Analytics Market Projected to reach $28.1 billion by 2026

Long before big data became cool in technology conversations, a baseball team manager and a Harvard Economics graduate applied Big Data analytics to baseball to create sporting history.

The concept was made popular by the movie, Moneyball, which recounts the compelling tale of the resurgence of the cash-strapped Oakland A’s which had just lost its star players to free agency.

Billy Beane, the then General Manager for the A’s, and Paul DePodesta, the Assistant General Manager, began analyzing baseball statistics to value and purchase players, which led to the team winning 20 consecutive games between August and September 2002.

Data-driven decision-making is now commonplace across key business functions including marketing, information technology, finance, and supply chain.

https://is.gd/NBPmt3 However, over the past few years, factors such as digital disruption, increased competition for talent, and changing workforce models have compelled HR leaders to embrace evidence-based decisions that can be linked to key business objectives.

Specific insights on what to expect in the future is a tremendous competitive advantage for organizations, and HR can leverage this technology to transform the business impact of the function drastically.

The tools are becoming more powerful, and the results are becoming more informative.

How Predictive Analytics helps in Healthcare

The researchers, as well as doctors, can benefit from predictive analytics to see what can happen.

The more data you have, the more accurate and detailed result you will get (like a trend line or risk score.)

All these insights give a foundation for prescriptive analytics, which also calculates probabilities.

Precise Treatment & Personalized Healthcare - Make Better Decisions

Transportation Predictive Analytics IndustryThe availability of advanced analytics is projected to motivate the growth of the market for prescriptive analytics.

Reports that scrutinize the information and communication technology industry have been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities.

Moreover, the upsurge in cyber-crime is expected to create favorable traction for the prescriptive analytics market in the coming years.Segmental AnalysisThe segmental study of the prescriptive analytics market is conducted on the basis of application, deployment, organization type, component, business sector, vertical, and region.

Based on the application types, the prescriptive analytics market is segmented into revenue management, network management, operation management, supply chain management, and others.

On the basis of deployment, the prescriptive analytics market is bifurcated into on-cloud and on-premise.

Based on the business sector, the prescriptive analytics market is segmented into marketing, operations, finance, HR and sales.

In BFSI industries fraud detection, application screening, credit and collections are the major areas of concern to retain the loyal customers and to attract new customers.

Predictive analytics solution help banks and financial institutions to capture and analyze the customer data which help in fraud detection, application screening, customer acquisition and retention, understanding the consumer behavior, and feedback management.

Furthermore, the solution also helps in targeted marketing to acquire new customers and liquidity planning according to the past usage pattern such as to predict the potential consumer requirement.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/6845Industry NewsIn March 2018, SAP SE launched the application edition of its predictive analytics software.

The application also offers enterprises with the flexibility to add and modify the models.In May 2018, ONYX Insights released an advanced predictive analytics feature integrated to its ONYX fleetMONITOR platform for BP Wind Energy, a wind power producer.

This platform offers operation monitoring for 585 turbines across10 windfarms in the US.

Use of data driven predictive analytics platform offers safe and reliable operations of the wind turbines.Predictive Analytics Market Key playersThe prominent players in the market of predictive analytics are Radius Intelligence Inc. (US), Microsoft Corporation (US), Dundas Data Visualization, Inc. (Canada), Tibco Software Inc. (US), IBM Corporation (US), Tableu Software (US), SAS Institute Inc. (US), SAP SE (Germany), Oracle Corporation (US) and NTT Data Corporation (Japan).Other players include BOARD International (Switzerland), Rapidminer Inc. (US), Angoss Software Corporation (Canada), Ignite Technologies, Inc. (US), and Fair Isaac Corporation (US) among others.Regional AnalysisThe global market predictive analytics is estimated to grow at a significant rate during the forecast period from 2018 to 2023.

IRI®, a fast-growing, innovative, global provider of technology, data, and predictive analytics for the consumer, retail and media sectors, today announced that Euan Jarvie will join IRI as president of the Europe, Middle East and Africa region, effective immediately.

In this role, Jarvie will drive strategy, commercial activity operations and financial performance for the EMEA region, and oversee its assets, alliances and partnerships.

Jarvie will also join IRI’s Executive Leadership Team.