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Predictive Analytics Market in Banking - Emerging Trends and Growth Drivers | Top Industry Players Profiled

01-17-2019 04:11 PM CET | IT, New Media & Software

Press release from: Allied Market Research

Predictive Analytics Market in Banking - Emerging Trends

Data mining is a thing of the past; today, business entities need real-time access to customer and business-related information, in order to take early and better decision. Predictive analytics in the banking sector is a new technology to derive customer insights. Predictive analysis tools are used by banks to arrive at data-driven logical conclusions to provide better and personalized customer experience. It helps in risk assessment and regulatory management of the financial institutions as well as assists in customer relationship management (CRM).

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Credit card companies might use predictive analysis to set credit lines for specific customers. Insurance companies can use predictive analytics to set premium amounts. Government agencies can use the system to curb fraudulent activities. Fraud detection ability and risk assessment through predictive analytics provide a strong base to this market. However, the possibility of inaccurate analysis can be an issue that might restrict the market.

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We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high-quality data, expert views and analysis, and high-value independent opinions. Our research process is designed to deliver a balanced view of the global markets and allow stakeholders to make informed decisions.

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