Predictive analysis is a technique that consists of an array of statistical methods from machine learning, data mining that plays a vital role in evaluating the present and historical data.
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Emergence of predictive analytics has provided countless benefits for companies that understand the inherent value secured within their current enterprise data.
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Predictive analytics has revolutionised few areas of application in the recent years namely, CRM analytics, Collection analytics, customer relations, fraud detection, direct marketing, retail analytics, risk management among others.
There is an array of market drivers, restraints as well as opportunities that are influencing the predictive analytics market in Europe.
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The need to structure complex data that is essential for the company and technological development act as the major driving force. In addition, increased adoption of predictive analytics to make optimized and smarter decisions has also added to the popularity of the market in a big way.
However, lack of awareness about the benefits of the predictive analytics has hindered market growth. Nonetheless, the increased adoption rate in BFSI and retail is likely to create greater opportunities in the predictive analytics market.
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The Europe predictive analytics market is segmented by deployment model, applications, industry, size of the organization, and geography. Based on deployment model, the market segments covered in the report are on premise deployment model and on-demand deployment model.
Applications discussed in the report are network management, supply chain management, operations management and others. Industries served by the perimeter security market consists of BFSI, retail, hospitality, manufacturing and several other sectors.
Moreover, the adoption rate of predictive analytics has increased rapidly in small and medium business enterprises and large enterprises. Countries located in Europe experiencing tremendous growth include the UK, France, Germany and Rest of Europe.
Key market leaders are also covered in the market research report. List of companies discussed in the report includes Fair Issac Corporation, Microsoft Corporation, SAP SE, IBM and other.
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