Cognitive systems in banking and financial, retail, healthcare and finance industries

For those who are unfamiliar, Cognitive systems help in speeding up the operations in banking and financial institutes so that they can meet the increasing demands of their customers and rising competition. Growing demand for predictive analytics is further spurring the growth of the market. This technique gives a chance to customize the program for groups or individual customers according to their demands and helps in improving the cost-effectiveness of the production process.

The need to manage large volumes of unstructured data among different sectors such as retail, healthcare and finance has propelled the growth aspects for data analytics in cognitive systems.

According to Research and Markets, the market is expected to reach a value of around US$ 12 Million by 2022, exhibiting a CAGR of 18% during 2017-2022.