Predictive Analytics Market - IBM, Microsoft, SAS Institute Inc., Oracle Corp, Teradata Corp, TIBCO Software Inc


Marketing is going through its own revolution, which is far beyond outdated strategies to analytics, and data-driven approach that delivers quantifiable results. The innovative technological implementations and emergence of massive amount of data overflow are driving the predictive analytics market. 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 Outdated business intelligence solutions are struggling to sustain in this highly competitive world.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.

Predictive analytics involves a variety of statistical methods ranging from data mining, modeling, and machine learning, which are helpful in analyzing by gone and current facts to make predictions about future, or unknown events. Predictive analytics is an area of information mining that deals with extracting information from data and using it to forecast trends, along with behavior patterns. The future may accompany any unfamiliar or anonymous event, but predictive analytics can be applied to any type of unknown stages, whether it was past, present, or future. 

The insurance segment, banking, and financial services dominate the global predictive analytics end use industry market, and are anticipated to remain as the leading end-use industries. Rising consumer-driven digital information is expected to fuel the growth of the manufacturing and retail sectors, during the forecast period.

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The growing concern of manufacturers to streamline production flow, increase product quality, and reduce time-to-market, has made analytics an indispensable part of any business. North America has led to the massive growth of the predictive analytics market, owing to the increasing demand for advanced business intelligence, in the region. Europe has become the fastest growing region, due to the large-scale adoption of predictive investigation, across many productions.

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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