Prescriptive analytics market is rapidly growing across the globe, as there is rise in data discovery tools, innovation in data preparation tools, evolution in business oriented social networks and easy access to multi structured data. Many enterprises are adopting this solution to make better decisions and have greater control on business application. Prescriptive analytics finds the best path of action for the given situation for enterprises. It also takes structured and unstructured data, to prescribe how to take advantage of this predicted data for business future outcomes. Prescriptive analytics helps the enterprises in decision making based on past and projected scenarios. In addition to that, prescriptive analytics solutions enable enterprises for efficiency and also reduce overall operational costs.
Prescriptive AnalyticsMarket: Drivers and Challenges
The major driver for Prescriptive Analytics Market is development in advanced technologies such as Internet of Thing (IoT) and big data and rising status of real time accessibility of data for effective business applications has powered the growth of prescriptive analytics market.
However, high cost of investment, complex analytical workflow, data integrity and safety concerns and lack of trained professional is restraining the prescriptive analytics market.
Prescriptive AnalyticsMarket: Segmentation
Segmentation on the basis of deployment:On-Premises,On-Demand.
Segmentation on the basis of application:Operation Management,Risk Management,Supply Chain Management, Network Management, Workforce Management, Revenue Management, Others.
Segmentation on the basis of industry:IT and Telecommunications, anufacturing,Transportation and Logistics,Defense and Government,BFSI,Healthcare,Retail,Energy and Utilities,Others.
Prescriptive AnalyticsMarket: key players
Some of the key players for Prescriptive Analytics Market are Ayata, Frontline Systems, Inc., IBM Corporation, Profitect, Inc., River Logic, Inc., SAP SE, SAS Institute, Inc., TIBCO Software Inc.
Prescriptive AnalyticsMarket: Regional Overview
Prescriptive Analytics Market is currently dominated by North America due to the technological advancements in this region.Asia Pacific Prescriptive Analytics Market is expected to have the highest growth rate during the forecast period.
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