Prescriptive Analytics Market 2021 Growth, COVID Impact, Trends Analysis Report 2027

The Global Prescriptive Analytics Market is projected to expand at a significant CAGR during the forecast period. Prescriptive analytics can suggest certain decision options to take advantage of future opportunities, reduce anticipated risk, and analyse the implication of every decision. To improve the accuracy of prediction and reach a better decision, prescriptive analytics can be used which automatically process new data and provide feasible solutions. The development of a complex mathematical algorithm and enhanced speed of computing applied to the data sets have made prescriptive analytics possible by using specific techniques such as simulation, optimization, and decision-analysis method.

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The major players in the prescriptive analytics market include Oracle Corporation, Microsoft Corporation, SAS Institute Inc., and SAP SE. The market is moderately competitive and few big companies are focused on product differentiation by using the tool of innovation. For instance, Oracle’s Autonomous Data Science Cloud Service was labelled as the leader in notebook-based machine learning and analytics, earning the highest average current offering score for its solution roadmap. According to the National Retail Federation, in 2017, for each company closing a store, 2.7 new companies were opening the store which increased the demand for in-store analytics. Complex analytical work and the dynamic nature of data along with lack of advanced analytical knowledge among the workforce and diversity of data models depending on the business needs are some of the restraining factors in the adoption of a prescriptive analytics solution. However, the demand for real-time accessibility of data in healthcare and other major industries for efficient business operation is expected to propel the growth in the prescriptive analytics market.

Prescriptive Analytics Market- Segmentation

By Component

• Software
• Service
• Professional Service
• Managed Service

By Data Type

• Unstructured Data
• Semi-Structured Data
• Structured Data

By Business Functions

• Human resources (HR)
• Marketing
• Sales
• Finance
• Operations

Segment by Region

North America

• US
• Canada
• Mexico

Europe

• Germany
• France
• Italy
• Spain
• UK
• Rest of Europe

Asia-Pacific

• Japan
• China
• India
• Australia and New Zealand
• Rest of Asia-Pacific

Rest of the World

• South America
• Middle East

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• We cover more than 15 major industries, further segmented into more than 90 sectors.
• More than 120 countries are for analysis.
• Over 100+ paid data sources mined for investigation.
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Recent Developments

o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment

Key Questions Answered by Prescriptive Analytics Market Report

• What was the Prescriptive Analytics Market in 2020 and 2021; what are the estimated growth trends and market forecast (2021-2027).
• What will be the CAGR of Prescriptive Analytics Market during the forecast period (2021-2027)?
• Which segments (product type/applications/end-user) were most attractive for investments in 2018? How are these segments are expected to grow during the forecast period (2021-2027)?
• Which manufacturer/vendor/players in the Prescriptive Analytics Market was the market leader in 2018?
• Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.

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This release was published on openPR.