Predictive analytics is business intelligence technology that produces a predictive score for each customer or other organizational element. Predictive analytics uses a variety of statistics and modeling techniques, and utilizes data mining, business intelligence tools, and machine information, to make predictions. The emergence of enormous amount of structured and unstructured data and ground-breaking technology deployments are the major drivers for the predictive analytics market.
The global predictive analytics market, valued at
Title: Predictive Analytics Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019
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Predictive analytics is used across different industry verticals such as banking and financial services, insurance, government, pharmaceutical, telecom and IT, retail, transportation and logistics, healthcare, and energy, among others. Global predictive analytics market in 2012 was dominated by the banking and financial services segment, which accounted for 16.8% revenue share. Banking and financial services are progressively deploying predictive analytics as it facilitates organizations to analyze and predict several factors related to cost, revenue, and reporting on the basis of big data.
The unprecedented shift of business intelligence to predictive analytics offers new-fangled opportunities to the major players and new startups in this market. Some of the major players in this market include
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