This type of sales trend is expected to continue for other companies in the predictive analytics market. One of the primary reasons is that predictive analytics tools offer businesses and governments new ways to lower costs, generate revenue and provide longer term economic stability.
Predictive analytics is not only considered necessary for companies to excel, but also is gaining notoriety as the only way for many companies to remain competitive. Jim Davis, SAS Senior Vice President and Chief Marketing Officer emphasized that his company's analytic products give companies the competitive edge, “Lightning-fast analytic insights provide a powerful competitive advantage. SAS Visual Analytics can evaluate numerous scenarios simultaneously, so banks can spot opportunities or detect emerging issues and respond immediately to market conditions. Retailers can personalize offers on the spot, based on structured and unstructured data from sales and social media, boosting sales.”
Why SAS is out in the lead is an open question. It could be because of its award winning products or its market focus. SAS has a diverse range of analytical tools packaged in an integrated analytics environment for predictive and descriptive modeling, data mining, text analytics, forecasting and a number of other business intelligence taks. It also offers industry specific solutions for customer intelligence and risk management. SAS focuses on the health care, banking, insurance, retail and communications market.
Similar ales increases are expected for the other predictive analytics vendors. The major reason is the growth of big data statistics warehoused in corporations and governments throughout the world. The automated pooling and analysis of this data will give businesses and governments the information they need to develop products and respond to marketing, economic and geopolitical conditions in real time.
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