{"id":483851,"date":"2020-05-12T07:50:02","date_gmt":"2020-05-12T07:50:02","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=483851"},"modified":"2020-05-12T07:50:02","modified_gmt":"2020-05-12T07:50:02","slug":"predictive-analytics-market-is-projected-to-reach-approximately-239-billion-by-2025-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/predictive-analytics-market-is-projected-to-reach-approximately-239-billion-by-2025-grand-view-research-inc_483851.html","title":{"rendered":"Predictive Analytics Market Is Projected To Reach Approximately $23.9 Billion By 2025: Grand View Research Inc."},"content":{"rendered":"
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
Massive data dependence and adoption of advanced technologies such as AI, machine learning, and big data is expected to drive the demand for predictive analytics solutions over the forecast period. <\/div>\n
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The global predictive analytics market<\/a> <\/strong>size is expected to be valued at USD 23.9 billion by 2025, registering a CAGR of 23.2% over the forecast period, according to a study conducted by Grand View Research, Inc. Massive data dependence and adoption of advanced technologies such as AI, machine learning, and big data is expected to drive the demand for predictive analytics solutions over the forecast period. These solutions transform collected data into insights; for instance, they detect patterns to determine a suitable course of action. They have also been instrumental in the development of search advertising and recommendation engines. Growing awareness about the importance of available data and its analysis for predicting the future scenario is offering a competitive edge to end users, thereby driving the demand for these solutions.<\/p>\n

Key factors driving the demand for predictive analytics solutions are enhanced product usability, adoption of new technologies, massive data deluge, and newer levers of differentiators. In addition, growing need for database management, data warehouses, forecasting, data mining, smart logistics, CRM, and data visualization in dashboards is supporting the growth of the market. These solutions help map the various stages of the buyer journey, which would help organizations adopt suitable marketing campaigns, subsequently leading to higher sales and customer retention. Increasing demand for these solutions from organizations to equip their business functions with analytical capabilities are also expected to drive the growth of the market over the forecast period.<\/p>\n

Techniques for implementing predictive analytics include machine learning, deep learning, regression, regression modeling, mathematical, text mining, neural nets, genetic algorithms, clustering, decision trees, and data exploration techniques to gain insights from historical and present data. These techniques are increasingly being adopted by organizations for various applications such as CRM, direct marketing, risk management, portfolio management, fraud detection, underwriting, and credit scoring. These solutions therefore help organizations decide future strategies based on predicted outcomes for enhancing the overall performance in the coming years.<\/p>\n

These solutions find applications in various end-use industries such as BFSI, healthcare, retail, manufacturing, government, sports, transportation and travel, IT, energy and utilities, and entertainment. These solutions help manage diversified applications across the aforementioned verticals. For instance, in the manufacturing industry, these solutions can be used for equipment maintenance management, workforce management, and cross-selling and up-selling. Moreover, the IT and telecom industry can adopt these solutions in sales, marketing, and CRM by implementing churn and pricing optimization.<\/p>\n

Get Details For “Sample Report, TOC, Segmentation & methodology of Predictive Analytics Market” Click Link Below:<\/span><\/strong>
https:\/\/www.grandviewresearch.com\/industry-analysis\/predictive-analytics-market<\/a><\/strong><\/p>\n

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Further key findings from the report suggest:<\/strong><\/p>\n