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We recently published a list of 11 Best Predictive Analytics Stocks to Buy According to Analysts. In this article, we are going to take a look at where SAP SE (NYSE:SAP) stands against other best predictive analytics stocks to buy according to analysts.
Predictive analytics, sometimes called big data analytics, is an integral part of today’s corporate arsenal. It is a subset of advanced analytics that makes use of statistical algorithms and machine learning techniques to predict future occurrences and gain insights from previous data. In addition, it includes tools and processes such as data mining and modeling, all aimed at examining data, identifying trends, and making informed predictions. According to Fortune Business Insights, the global predictive analytics industry was valued at $14.71 billion in 2023, and is predicted to reach $95.3 billion by 2032, with a compound annual growth rate (CAGR) of 23.1%.
Companies are always looking for ways to stay ahead of the competition and make smart choices that lead to success. This has led to a growing reliance on data-driven decisions. With consolidated analytics, machine learning models, and AI technologies, it’s now possible to analyze more companies in a larger area range at a faster rate than ever before. This is especially true for the practice of venture capitalism. Many early-stage startup investors use data-driven decision-making to guide their lead sourcing and investments. While the instinct for scouting great investment opportunities is typically developed over years of experience, venture capital firms and associates can improve their scouting process by analyzing a variety of ecosystems. According to a data-driven VC analysis, by this year, data, analytics, and artificial intelligence would be used to guide investment decisions in 75% of all VC deals. This access to high-quality data reduces venture capitalists’ risk of losing out on opportunities and assists them in identifying high-potential firms that might otherwise go undiscovered. Moreover, the combination of predictive analytics with artificial intelligence has resulted in a significant improvement in the depth of data insights. According to a Fortune Business Insights report on the AI sector, it is predicted to grow rapidly, with a CAGR of 29.2%. This rise is expected to bring the industry’s size to $1.7 trillion by 2032, a significant increase from the $233.46 billion in 2024.
Predictive Analytics in Healthcare
Much like many other industries, predictive analytics can be a boon for the healthcare sector. Due to its data-driven approach, it offers the potential to improve preventative care, resource management, and operational efficiency. In this perspective, the global healthcare predictive analytics market was valued at $12.96 billion in 2023 and is expected to rise at a compound yearly growth rate of 35% between 2024 and 2032. Furthermore, the growing volume of healthcare data from numerous sources, including wearable devices, mobile health applications, and electronic health records (EHRs), creates new opportunities for sophisticated analytics solutions. To illustrate this, the World Economic Forum estimates that hospitals create 50 petabytes of data every year.