Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future.
What are the types of predictive analytics?
There are three types of predictive analytics techniques: predictive models, descriptive models, and decision models.
What are examples of predictive analytics?
Predictive analytics examples by industry
- Predicting buying behavior in retail. ...
- Detecting sickness in healthcare. ...
- Curating content in entertainment. ...
- Predicting maintenance in manufacturing. ...
- Detecting fraud in cybersecurity. ...
- Predicting employee growth in HR. ...
- Predicting performance in sports. ...
- Forecasting patterns in weather.
