What is ...
Predictive analytics is a data analysis technique that uses historical data and statistical algorithms to make predictions about future events or outcomes. It involves analyzing large datasets to identify patterns, trends, and relationships, which are then used to create predictive models. These models are capable of forecasting future behavior or events based on the data patterns observed in the past.
Predictive analytics can be applied to various domains, such as marketing, finance, healthcare, and manufacturing, to make informed decisions and gain a competitive advantage. By using predictive models, businesses can anticipate customer preferences, identify potential risks, optimize processes, and improve overall performance. The goal is to leverage data-driven insights to make accurate predictions and drive better outcomes in a wide range of applications.