Oct 29, 2018

Predictive Analytics

Without analytics it is difficult to sustain your business. Big data has helped businesses identify events before they occur. This is called ‘predictive analytics'. Predictive analytics encompasses a variety of statistical techniques from modeling, machine learning, and data mining that analyze current and historical facts to make predictions about future, or otherwise unknown, events.

Predictive analytics describes any approach to data mining with four attributes: an emphasis on prediction (rather than description, classification or clustering), rapid analysis measured in hours or days (rather than the stereotypical months of traditional data mining), an emphasis on the business relevance of the resulting insights (no ivory tower analyses) and (increasingly) an emphasis on ease of use, thus making the tools accessible to business users.