Global Prescriptive Analytics Market
Report Highlights
The Global Prescriptive Analytics Market was valued at USD 1.25 billion in 2016 and is projected to reach USD 15.05 billion by 2025, growing at a CAGR of 31.85% from 2017 to 2025.
Prescriptive analytics is the other name of business analytics, which includes descriptive and predictive analytics that seek to provide optimal recommendations during a decision making process and determines ways in which business processes should be modified. Benefits of prescriptive analytics include – reduced risk, increases revenue, high efficiency, gross margin management, cost reduction, automatic adjustment of sales price, and direct and measurable impact on the return on investment.
Market Dynamics:
1. Market Drivers
1.1 Increasing cyber crimes and need for crime prediction and prevention
1.2 Need of advanced business intelligence tools
1.3 Rising investments in big data infrastructure
1.4 Increasing adoption of big data technologies and IoT
1.5 Emergence of real-time accessibility of data for efficient business operations
2. Market Restraints
2.1 Poor knowledge about advanced analytics among the workforce
2.2 Diversity of data models based on business needs
2.3 Poor adoption of advanced analytics technology
2.4 Operational complexities
Market Segmentation:
The Global Prescriptive Analytics Market is segmented on the data type, business function, organization size, component, deployment model, application, vertical, and region.
1. Data Type:
1.1 Structured
1.2 Unstructured
1.3 Semi-structured
2. Business Function:
2.1 Marketing
2.2 Finance
2.3 Operations
2.4 HR
2.5 Sales
3. Organization Size:
3.1 Large Enterprises
3.2 Small and Medium Organizations
4. By Component:
4.1 Software
4.2 Services
4.2.1 Managed services
4.2.2 Professional services
4.2.2.1 Support and maintenance services
4.2.2.2 Consulting services
5. By Deployment Mode:
5.1 Cloud-based
5.2 On-premises
6. By Application:
6.1 Network management
6.2 Risk Management
6.3 Operation Management
6.4 Workforce Management
6.5 Revenue Management
6.6 Supply Chain Management
6.7 Others
7. By Vertical:
7.1 Healthcare
7.2 Government and Defense
7.3 IT and Telecom
7.4 Banking, Financial Services, and Insurance (BFSI)
7.5 Travel and Hospitality
7.6 Retail and e-commerce
7.7 Manufacturing
7.8 Others
8. By Region:
8.1 North America (U.S., Canada, Mexico)
8.2 Europe (Germany, UK, France, Rest of Europe)
8.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
8.4 Latin America (Brazil, Argentina, Rest of Latin America)
8.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. River Logic, Inc.
2. Frontline Systems Inc.
3. IBM Corporation
4. Ngdata
5. Tibco Software Inc.
6. Profitect
7. Angoss Software Corporation
8. Ayata
9. Panoratio
10. FICO
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Prescriptive Analytics Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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