According to the new market research report “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% during the forecast period. The base year considered for this report is 2015 and the forecast period is 2016–2021.
Major growth drivers of the mobile BI include increasing BYOD trend, rise in importance of mobile enterprise application platform (MEAP), data-driven decision-making, proliferation of in-memory computing. As organizations today have growing access to the real-time data they are leveraging it for gaining competitive edge over their competitors which is coupled with an increase customer satisfaction through enhancements in customer which are supporting factors accelerating the growth of the market.
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Objectives of the report:
• To describe and forecast the global prescriptive analytics market on the basis of components, data types, business functions, applications, deployment models, verticals, and regions
• To forecast the market size of the five main regional segments, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and Latin America
• To strategically analyze sub segments with respect to individual growth trends, future prospects, and contribution to the total market
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
• To analyze the opportunities in the market for stakeholders and to provide details of a competitive landscape for major players
• To comprehensively analyze core competencies* of key players
• To track and analyze competitive developments such as mergers & acquisitions, new product developments, and partnerships & collaborations in the market
Major Market Developments
1. In August 2016, River Logic partnered with GitaCloud to provide “Planning and Decision Analytics” to various industry verticals such as automotive, pharmaceutical consumer goods, and other manufacturing sectors in the North American and APAC markets.
2. In June 2016, FICO acquired QuadMetrics, a firm that implements predictive analytics to rate cybersecurity of organization. This acquisition is likely to leverage quantitative and qualitative insights to evaluate and identify the cybersecurity risks of an organization’s assets.
3. In May 2016, River Logic launched cloud-based prescriptive planning and performance management platform. The platform delivers embedded business knowledge, cutting-edge visualizations and capabilities, and numerous capabilities for trade-off analysis.
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Most of the vendors have adopted agreements, collaborations & partnerships, new product developments, product upgradations, and expansions as the key strategies to enhance their client base and customer experience. For instance, in August 2016, River cloud partnered with GitaCloud to provide “Planning and Decision Analytics” to various industry verticals such as automotive, pharmaceutical consumer goods, and other manufacturing sectors in the North American and APAC markets. Product upgradation has also been adopted by top players to innovate in this market space. For example, in April 2016, Angoss software released 9.6 version of software suite, with enhancements to KnowledgeSEEKER, KnowledgeSTUDIO, KnowledgeREADER, and InsightOPTIMIZER products. Angoss boosted its prescriptive analytics product, InsightOPTIMIZER, by integrating dataset and record level optimization.
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