To gain wide-ranging information about the top players in this market sphere, their product portfolios, and key strategies adopted by them.The prescriptive analytics ecosystem comprises the following major vendors: IBM Corporation (U.S.), FICO (U.S.), River Logic, Inc. (U.S.), Ayata (U.S.), Angoss Software (U.S.), Profitect (U.S.), Frontline (U.S.), Panoratio (Germany), TIBCO Software (U.S.), NGData (Belgium).
The prescriptive analytics market size is estimated to grow from USD 1.16 billion in 2016 to USD 4.58 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 31.7%.
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The key players in the Prescriptive Analytics Market include – IBM Corporation (U.S.), FICO (U.S.), River Logic, Inc. (U.S.), Ayata (U.S.), Angoss Software (U.S.), Profitect (U.S.), Frontline (U.S.), Panoratio (Germany), TIBCO Software (U.S.), NGData (Belgium)
The report segments the Prescriptive Analytics market on the basis of type, which includes software &services and on the basis of services, such as managed services and professional services. Under professional services, the report is further segmented into support &maintenance and consulting services, under deployment models, it is segmented into hosted and on-premises, and under verticals, it includes Banking, Financial Services, & Insurance (BFSI), government, healthcare, retail & e-commerce, manufacturing, energy & utilities, transportation, IT & telecommunications, and others(real estate, travel & hospitality, and research)in the regions of North America, Europe, APAC, Middle East &Africa (MEA), and Latin America.
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The prescriptive analytics market size is estimated to grow from USD 1.16 billion in 2016 to USD 4.58 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 31.7%. Emergence of advanced technologies such as, big data and IoT and rising popularity of real-time accessibility of data for efficient business applications has fueled the growth of prescriptive analytics solutions.
However, complex analytical work flow and dynamic nature of data are acting as the restraining factors for the prescriptive analytics market.
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The prescriptive analytics software helps the company in decision making based on the historical and projected scenarios. Prescriptive analytics software uses the outcomes from predictive analytics and generates alternative solutions, which can be used to reach businesses objectives.
Furthermore, the prescriptive analytics solution enables organizations to increase efficiency and to save overall operational costs.
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