Predictive Analytics Market: Application in Retail Big Data with Improving Health Outcomes

Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future.

Market Highlights

Predictive analytics for marketing would have been adopted years ago – if only the compute power were more ubiquitous, the data were more accessible, and the software were easier to use. Now “predictive analytics” itself is almost a buzzword, after nearly 30 years of backward-looking marketing tracking.

Today, well over 30 years after the founding of Lotus Software, even medium-sized businesses are often still operating their marketing “scoreboards” in Google Sheets or One Drive… “throw it in a spreadsheet” still works. But businesses with an eye on the future want to know more than just what happened in the past. “Scoreboards” (most analytics tools and tracking) don’t tell you what the score will be. Some of our recent “AI for marketing” articles have gained readership because more and more executives are searching for ways to look forward with their numbers, not just back. SAS defines the term well.

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Key Benefits -like article will aim to cover the following:

• Current applications of predictive analytics for marketing
• The role of data and machine learning
• Existing market research on predictive analytics
• Prominent vendors and service providers in predicitive analytics

Top Industry Players:

This report studies the global Predictive Analytics market, analyzes and researches the Predictive Analytics development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like: IBM, Oracle, SAP, SAS Institute, Accretive Technologies, Angoss Software, HP, Information Builders, Megaputer Intelligence, Microsoft, Microstrategy, Pegasystems.

Existing Market Research on Predictive Analytics for Marketing
Like machine learning, predictive analytics is getting a lot of attention. While predictive analytics has been kicking around in the world of business and marketing for longer than ML, it only appears to have been this year (2016) that teams using some form of marketing analytics platform are starting to outpace those who still choose to go without. Forrester published a study a few years ago outlining two big challenges that modern marketers’ face:

• Creating more personalized and relevant messages for increasingly selective buyers
• Creating customized marketing campaigns that engage a wider range of key decision-makers and influencers earlier in the buying process

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Market Segment
• United States
• EU
• Japan
• China
• India
• Southeast Asia

Market segment by Type, Predictive Analytics can be split into
• Predictive Models
• Descriptive Models
• Decision Models

Market segment by Application, Predictive Analytics can be split into
• On Premise
• Cloud

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