“Predictive analytics is a method used by organizations to extract relevant information from past data sets to identify trends and predict future outcomes. Predictive analytics solutions improve the decision-making process of organizations by analyzing the trends with the help of data mining, regression, clustering, and other tools. Technological advancement and the massive amount of data deluge faced by the companies have acted as the major drivers for the predictive analytics in the region. The region is expected to witness the market growth at a CAGR of 25.7% from $670.5 million to $2,106.8 million by the end of year 2019.
In this report, the predictive analytics market covers industry verticals such as Banking, Financial Services & Insurance (BFSI), healthcare, telecom & IT, media & environment, consumer goods & retail, environment & government and others. BFSI segment has the maximum use of the predictive analytics techniques thereby dominating the other verticals.
The report also segments the market on the basis of application segments such as customer analytics, marketing analytics, risk analytics, fraud analytics, network analytics, operations & workforce management and others. The customer analytics segment holds the highest share among applications in 2014.
The major players included in the report include IBM, Oracle, SAP, SAS, Teradata, and MicroStrategy. These players are engaged in regular innovation and are adopting different strategies such as mergers and acquisitions, partnerships and product launches to increase their share in the market. The developments and changes in the market have also been included along with the insight on these companies in the market.
â¢ Predictive Analytics Market, By Application
ï Customer Analytics
ï Marketing Analytics
ï Operations & Workforce Management
ï Risk Analytics
ï Fraud Analytics
ï Network Analytics
â¢ Predictive Analytics Market, By Vertical
ï Consumer Goods & Retail
ï Environment & Government
ï Telecom & IT
ï Media & Entertainment
â¢ Predictive Analytics Market, By Geography
ï Rest of Europe