Massive Growth for Advanced Predictive Analytics Software Industry

Massive Growth for Advanced Predictive Analytics Software Industry

Predictive analytics encompasses a variety of statistical techniques from data mining, predictive modeling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. In companies, predictive models use patterns from historical and transactional data to identify risks and opportunities. Models capture relationships between many factors to enable assessment of risks or potentials associated with particular conditions and guide decision making for candidate transactions.

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Some of the key players of Advanced Predictive Analytics Software Industry:

Acxiom LLC, FICO, IBM, Microsoft Corporation, Oracle Corporation, SAP AG, SAS Institute, Inc., TABLEAU SOFTWARE, LLC, A SALESFORCE COMPANY., Teradata Corporation, TIBCO Software, Inc. (Vista Equity Partners)

The defining functional effect of these technical approaches is that the predictive analysis provides a predictive rating (probability) for each person (customer, employee, health patient, product SKU, vehicle, component, machine or other organizational unit) in order to determine to inform or influence organizational processes that relate to a large number of people, such as B. Marketing, credit risk assessment, fraud detection, manufacturing, healthcare, and government business, including law enforcement.

Predictive analytics is used in actuarial, marketing, financial services, sports / fantasy sports, insurance, telecommunications, retail, travel, mobility, healthcare, child protection, pharmaceuticals, capacity planning, social networking, and more. One of the most popular uses is credit scoring, which is used in financial services. Scoring models process a customer's credit history, loan application, customer details, etc. to rank individuals based on their likelihood of making future loan payments on time.

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