Global Predictive Analytics Market to Reach $7.16 Billion by 2020
Predictive Analytics is a tool that analyses current and historical facts and make predictions about future events. Predictive analytics application uses several techniques, such as data mining, statistical algorithms, predictive modelling, machine learning, artificial intelligence and others to predict future outcomes and insights.
Unlike traditional business intelligence and analytics tool which focus on giving information, predictive analytics provides actionable insight for informed decision making. Predictive analytics are increasingly adopted by many organizations including manufacturing, banking and financial services, energy and utility, healthcare, retail, IT and telecommunication, and such others to analyse the on-going trends and formulate future strategies
According to Quadrant Knowledge Solutions latest research on “Predictive Analytics Market Research Outlook” the market is expected to grow at a CAGR of 22.7% from 2016-2020 to reach a market size of $7.16 billion by 2020. Application in Business and financial service (BFS) industry is expected to grow at higher rate driven by applications, such as fraud detection and prevention, credit scoring, risk and compliance management.
Learn more from our latest Strategic Insights on Predictive Analytics
- Predictive Analytics Application for Credit Scoring, Risks, and Compliance Management
- Predictive Analytics for Banking and Financial Services (BFS) Industry
- Predictive Analytics for CLM (Customer Life Cycle Management)
- Predictive Analytics Model For Advance Sales and Marketing Strategies
Global Predictive analytics market research service is a part of Quadrant’s information and communication technology sector. This research service provides strategic insights, market forecast, market share, and detailed market opportunities of global predictive analytics market.
The study covers various applications of predictive analytics market including sales & marketing, customer relationship, fraud detection & security, financial risk management, predictive maintenance, operations management and such others.
On industry verticals, the study covers detailed analysis of banking & financial services (BFS), IT and telecommunications, retail & eCommerce, healthcare & life-sciences, government & public sector, manufacturing, energy and utilities, and others.
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About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients in achieving business transformation goals with Strategic Business, and Growth advisory services.
At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environment.
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