Prescriptive Analytics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025
Prescriptive analytics is connected to both predictive and descriptive analytics. While predictive analytics helps to forecast what might occur and descriptive analytics provide information into what has happened, prescriptive analytics helps to provide the best results among different choices, given the known parameters. Prescriptive analytics can imply decision making options for how to take benefit of an upcoming opportunity or reduce a future risk and demonstrate the implication of every decision option. In addition, prescriptive analytics can automatically and continually process new data to develop the accuracy of predictions and offer better decision options. In addition, increasing popularity of real-time accessibility of information for efficient business operations is positively driving the global market. Moreover, growing cyber-crimes is further booming the market of prescriptive analytics due to the rising need for crime prediction and prevention information. However, complexity in workflow and dynamic nature of information are acting as a restraint to the prescriptive analytics market. Many manufacturers are focusing on this matter and they are trying to make it user-friendly, therefore the impact of this restraint is medium and is expected to be low during the forecast period. Obtain Report Details @ http://www.transparencymarketresearch.com/prescriptive-analytics-market.html By component, the market of prescriptive analytics can be divided into software and services. By service, component can be further segmented by managed service and professional services. By data type, the market is segmented by structured data type, unstructured data type and semistructured data type. In terms of application, the market of prescriptive analytics is divided into operation management, risk management, revenue management, supply chain management, network management, workforce management and others. By business function, the market of prescriptive analytics is segmented into sales, marketing, human resources, finance, and operation. In terms of deployment, the market is segmented into on premises and on demand.