Predictive Analytics in Manufacturing: A Winning Edge

The modern manufacturing world is a delicate dance, filled with interconnected pieces that all need to work perfectly in order to produce the goods that keep the world running.

The predictive analytics is the analysis of the collected and incoming data to identify potential problems at an early stage. The predictive analytics in manufacturing can help significantly in quality control while also reducing production costs by minimizing waste arising due to overproduction, logistics, idle time, and unnecessary motion. Positive economic outlook and rapid globalization are expected to boost the growth of the manufacturing predictive analytics market during the forecast period.

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The manufacturing predictive analytics market is foreseen to flourish in the forecast period owing to driving factors such as growth in digitalization coupled with government initiatives favoring big data projects. Growth in the industrial internet of things (IIoT) devices is expected to propel the market demand. However, data security concerns may hamper the growth of the manufacturing predictive analytics market during the forecast period. Nevertheless, data-driven organizations offer lucrative opportunities for the growth of the manufacturing predictive analytics market during the forecast period.

Top Key players involved in this market are Civis Analytics, Fair Isaac Corporation, IBM Corporation, Microsoft Corporation, Oracle Corporation, RapidMiner, Inc., SAP SESAS Institute Inc., Tableau Software, Inc., TIBCO Software Inc.