1. Market Research
  2. > Advanced IT Market Trends
Predictive Analytics in the Real World

Predictive Analytics in the Real World

  • October 2015
  • 17 pages
  • ID: 3356427
  • Format: PDF
  • By Frost & Sullivan

Summary

Table of Contents

Executive Summary

After centuries of scientific progress in understanding the structural and periodic patterns of the natural world, as well as our success in developing so many useful technologies that leverage these patterns, most humans are reasonably confident that our future will continue to unfold in a similar fashion.

The expectation that we will continue to find and utilize patterns, not only in the natural world but also in the realm of human and man-made system behavior, underlies the current enthusiasm for predictive analytics.

Amazon, Google, and Netflix have clearly demonstrated that predictions based on past user behavior can be profitable; fueling speculation that organizations of all types might benefit by uncovering the hidden patterns in their own data stores, and using these patterns to inform beneficial changes in their processes and systems.
Predictive applications can be used not only to find patterns that will increase sales and improve customer service, but also to improve the performance of complex systems. For example, even tiny changes to automated production processes, or catching anomalies before they turn into major malfunctions, can boost performance and profitability.
In short, it just makes sense to think that hidden patterns in the data that are being collected about our behavior, and about the behavior of our devices and systems, will be useful in predicting, influencing, and even changing, future behavior.

The concept is so compelling, and the data so voluminous, that a burgeoning array of new database and analytical software tools are coming to market, joining the existing statistical and decision modeling solutions, to advance the process of prediction. Some of these new tools are based on well-worn statistical paradigms.
Others feature algorithms developed in highly specialized realms of scientific research; while still others are being brought into commercial application, from research, into various types of machine learning. Some of the newest predictive analytic solutions offer bundles of algorithms and automated mechanisms (more algorithms), to evaluate their performance, and to identify the ones that best fit the available data and the desired predictions.

These algorithms owe their ability to work efficiently and rapidly to ongoing improvements in the software development frameworks that enable them, and in the ways that compute resources are scheduled and optimized.

The pace and intricacy of these developments make the field of predictive analytics one of the most complex and challenging subsets of the Big Data and advanced analytic market. There is also a very wide gap between the practitioners of predictive analytics—most of whom are statisticians, scientific researchers and data scientists—and the people who most want to use predictive analytics for commercial and industrial applications.

Bridging this gap with accurate information and clear communication is imperative if predictive applications are to satisfy business users’ expectations. The purpose of this report is to assist in building this bridge: first, by placing predictive analytics in a practical conceptual context for business people; then, by exploring several of the promising solutions that are coming to market.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.
Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers
Global Cloud Analytics Industry

Global Cloud Analytics Industry

  • $ 4950
  • February 2020

Cloud Analytics market worldwide is projected to grow by US$36.2 Billion, driven by a compounded growth of 7.2%. Cloud BI Tools, one of the segments analyzed and sized in this study, displays the potential ...

Global Content Analytics Industry

Global Content Analytics Industry

  • $ 4950
  • February 2020

Content Analytics market worldwide is projected to grow by US$6.4 Billion, driven by a compounded growth of 20.6%. On-Premise, one of the segments analyzed and sized in this study, displays the potential ...

Global Data Mining Tools Industry

Global Data Mining Tools Industry

  • $ 4950
  • February 2020

Data Mining Tools market worldwide is projected to grow by US$680.9 Million, driven by a compounded growth of 12%. Services, one of the segments analyzed and sized in this study, displays the potential ...


ref:plp2015

Reportlinker.com © Copyright 2020. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on