Predictive Analytics

Predictive analytics is a subset of advanced data analytics that focuses on forecasting future events based on historical data.

The most common form of predictive analytics is statistical analysis, which makes use of mathematical models such as linear regression or logistic regression with large data sets gathered from past events (e.g., customer transactions).

Predictions are made by analyzing past events and identifying patterns in them; these patterns are then applied to new events to make predictions about what will happen next. This enables organizations to reduce operational expenses by increasing sales, optimizing inventory, and improving delivery time.

Artificial intelligence (AI) methods can also be applied to predictive analytics. When combined with artificial intelligence (AI), the insights gained from these advanced systems become the key to more accurate and timely forecasting.

Predictive analytics is used in many different fields, including marketing, fraud detection, credit scoring, and many others.

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