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Predictive Analytics Market 2019-2023 Trends and Opportunities With Key Players - IBM, Information Builders, Microsoft, SAS, Oracle, Teradata, TIBCO and FICO
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The focus of business enterprises has changed from conventional business intelligence (BI) to predictive analysis, due to the fact that they have understood the importance of data and its analysis for future assessment. Outdated business intelligence solutions are struggling to sustain in this highly competitive world. The revolution of BI to predictive analytics has given new opportunities to the big market players, as well as the new startups in the predictive analytics market.
The global predictive analytics market can be segmented on the basis of end-use industries, which involve insurance, banking and financial services, pharmaceutical, government, retail, transportation and logistics, public administration and utilities, telecom and IT, manufacturing, healthcare, tourism, engineering and construction, energy, media and entertainment, sports, and others. By application, the market can be divided into customer and channel, sales and marketing, operations and workforce, finance and risk.
The growing need for product differentiation has led to the introduction, and adoption of new technologies, which will positively impact the overall market. The increased establishment of small and medium sized businesses (SMBs), growth in cloud adoption, and increasing business interest and are some of the other opportunities, which are expected to bring a major boost to the global predictive analytics market.
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Some of the key competitors in the global predictive analytics market are International Business Machines Corp., Information Builders., Microsoft, SAS Institute Inc., Oracle Corp, Teradata Corp, TIBCO Software Inc. and Fair Isaac Corporation.
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