Many organisations have been analysing present and past data for long time in order to predict the future outcomes. Prescriptive analytics is the latest emerging field of proposing the actions to perform such that business can get maximum profits with minimum risks. Prescriptive Analytics helps in making strategic and tactical decisions by providing with present and future impacts of each decision. The Global Prescriptive Analytics market was 1.46 Billion USD in 2018 and is estimated to reach 6.72 Billion USD by 2025 with a CAGR of 24.36% during the period
Growth by Region
North America is expected to lead the Global Prescriptive Analytics Market having more than half of the market share in 2017 followed by Europe and Asia-Pacific. Asia-pacific region will have the highest CAGR in the forecast period due to increase in the usage of advanced analytic solutions across the different industries.
Drivers vs. Constraints
Growth of recently introduced technologies such as Big Data, IoT and increasing popularity of real time accessibility of data for business decision making acts as drivers for Global Prescriptive Analytics Market. The increased accessibility of structured and unstructured data for the outcomes of forecast for better decision making is also a reason for a growing market.
Industry Structure and Update:
In November 2017, IBM launched an IBM Analytics Engine which initialized a new step in the evolution of big data analytics. This Engine separates the compute and storage infrastructure.
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