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Prescriptive Analytics Market - Rising Popularity of Automated Business Decisions that are being Implemented by Various Organizations is the Key Factor

03-19-2018 06:57 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
Prescriptive analytics can suggest decision options for how to take advantage of a future opportunity or mitigate a future risk, and illustrate the implications of each decision option. In practice, prescriptive analytics can continually and automatically process new data to improve the accuracy of predictions and provide better decision options.

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Advancements in the speed of computing and the development of complex mathematical algorithms applied to the data sets have made prescriptive analysis possible. Specific techniques used in prescriptive analytics include optimization, simulation, game theory and decision-analysis methods.

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Few of the major driving factors of prescriptive analytics market are the growing prominence of big data, rise in cyber-crimes and the need for crime prediction and prevention. Another major factor that aids the growth of prescriptive analytics market is the rising popularity of automated business decisions that are being implemented by various organizations across verticals.

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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