What is Predictive Analytics?
Predictive Analytics is using emperically derived models for predicting future outcomes which can be based on known or even unknown events. There are many
techniques employed in Predictive Analytics which
include data mining, statistical analysis, modeling, and even artificial intelligence.
Predictive analytics has been around for a long time, it's a technology that's getting adoption now as it has matured. Organizations are turning to
predictive analytics to increase revenues, manage
expenses, and to maintain a competitive advantage. Big Data has played a big part of this. Growing volumes and types of collected data, made publicly
available has provided the ability to benchmark trends
find anomalies. New software is both interactive and easy-to-use, Predictive analytics is no longer just the domain of data wonks and statistics nerds.
Nowaday's Business analysts and operations subject
matter experts are using these technologies as well.
Goals of Predictive Analytics
Bring key business insignts into decision-making processes
Solutions to our biggest challanges with data mining
Integration of predictive analytics with data driven decision making
Positive ROI and superior outcomes
Who needs Predictive Analytics ?
Companies that need to:
Secure their competitiveness
Increase sales and grow customer base
Meet customer expectations
Improve core business capacity
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