“From the $300 million spent in 2018 on alternative data to pre-trade transparency to indexing to real-time market data, 2019 will see a hyper-focus on gathering more of the right data, storing it in new ways, analyzing it via machine learning and AI, and acting upon it more systematically than ever before.”
The global predictive analytics market will expand at a 17.80 percent CAGR over the forecast period to 2019. The market is estimated to reach $6.54 billion by 2019. In terms of applications, the segment of finance and risk management is expected to generate high demand in the global predictive analytics market.
“Over the past 40 years, the asset focus has completely flipped, from the market being dominated by 83% tangible assets in 1975 to 84% intangible assets in 2015. Instead of manufacturing coffee pots and selling washing machines, today’s corporate giants offer apps and connect people.”
via MIT SMR
Cigna Corp. is using artificial intelligence to predict whether patients might abuse and or overdose on prescription opioids as part of the company’s commitment to reducing the substance’s use. Cigna has hired more than 1,000 data scientists, software engineers and analytics experts.
To understand more clearly how to convert megadeal opportunities into top-line results, companies need to invest to improve data quality, build capabilities in advanced analytics and machine learning, and know how to continuously generate and develop ideas on how to use data to make better decisions.
“Insights-driven companies derive value from their data. They systematically use data to deliver better customer experiences, improve operations, and create competitive differentiation — all of which adds to the bottom line.”
The proliferation of data breaches is happening at a time when marketers are becoming more reliant upon user data. In a survey of 226 CMOs worldwide, 42 percent of respondents said that protecting customer data is one of their top data-related challenges.