Predictive Analytics Market Poised to Take Off by 2026
Predictive Analytics Market research provides industry analysis by
type, manufacturer, application along with key factors influencing
the growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
The predictive analytics is a branch of advance analytics, which is used to make future prediction
by adopting various techniques such as Artificial Intelligence, machine learning, modelling,
statistics, and data mining.
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Increasing demand for market insights from unstructured data such as documents, call centre
transcripts, email messages, social media content, and social networking sites is major factor
driving growth of predictive analytics market. In organization only 20% of data is structured and
80% of data is unstructured. Predictive analytics software extract insights from unstructured data
with the help of language processing technology combined with a variety of analytical tools. This
insights enables the companies to understand customer mind-sets, purchase preferences, and
sentiments that cannot be anticipated from structured data alone. Hence, growth of unstructured
data is driving growth of the predictive analytics market.
The cloud deployment model segment is projected to witness highest CAGR over the forecast
period, owing to various advantages such as low maintenance cost, remote location access, and
flexibility, which have accelerated the demand for cloud based predictive analytics solutions.