Predictive Analytics Market Projected to be Worth $24 Billion by 2025
Businesses want to see results. The best method a business can use to mitigate risk and guarantee maximum returns is through the use of predictive analytics. Being able to utilize data through machine learning and predictive modeling allows businesses to make decisions which improve efficiencies, reduce risk and increase revenues. As businesses start to realize these benefits and begin to adopt predictive analytics, growth in the predictive analytics industry is expected to skyrocket.
Organizations are Demanding Data-Driven Decision Making
In a study conducted by Market Insight Reports, the predictive analytics industry is projected to increase in value at a compound annual growth rate of 22.35%. This means that the predictive analytics industry is estimated to be worth $24.45 Billion USD by 2025. These staggering figures show how improvements in AI technologies in a data-driven society can play a crucial element to improve a company’s growth and profitability. The healthcare, telecom and financial services industries are expected to be the largest to capitalize on these technological advancements. To be ahead of the competition, your business needs to take advantage of the technology and data available today.
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To learn more about what Predictive Success can do to help your organization utilize data and to hire top talent, contact us. Or to try the Predictive Index Behavioural Assessment for yourself click here .
Source: Tanmay. 11 May, 2018. “Predictive Analytics Market Anticipated to Grow at a CAGR of 22.35% by 2025”. Expert Consulting. Retrieved from theexpertconsulting.com