Predictive analytics can take you from guesswork to prediction by showing you where you are now, and where you can go next. It empowers you to analyze trends, patterns and relationships in your structured and unstructured data, apply those insights to predict future events, and act to achieve your desired outcomes.
2. ANALYTICS AND DECISION
MAKING
Predictive analytics is the practice of extracting information
from existing data sets in order to determine patterns and
predict future outcomes and trends. Predictive analytics
does not tell you what will happen in the future.
3. PredictiveModelsandAnalysisAppliedto
Business
Predictive models and analysis are typically used to forecast future
probabilities. Applied to business, predictive models are used to
analyze current data and historical facts in order to better understand
customers, products and partners and to identify potential risks and
opportunities for a company. It uses a number of techniques, including
data mining, statistical modeling and machine learning to help analysts
make future business forecasts.
PredictiveAnalyticsResources
Big Data Analytics Expert Predictions
What is Predictive Model Markup Language (PMML)
Predictive Analysis Defined
What is Big Data Analytics
Revolution Analytics - Big Data Analytics Software
4. PredictiveAnalyticsandBigData
Predictive analytics is an enabler of big data: Businesses collect vast amounts of
real-time customer data and predictive analytics uses this historical data,
combined with customer insight, to predict future events. Predictive analytics
enable organizations to use big data (both stored and real-time) to move from a
historical view to a forward-looking perspective of the customer.
For example, stores that use data from loyalty programs can analyze past
buying behavior to predict the coupons or promotions a customer is most to
participate in or buy in the future. Predictive analytics could also be applied to
customer website browsing behaviors to deliver a personalized website
experience for the customer.
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