Tactical, Operational & Strategic Analysis of Markets, Competitors & Industries
Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predicted variables from past occurrences, and exploiting it to predict future outcomes. It is important to note, however, that the accuracy and usability of results will depend greatly on the level of data analysis and the quality of assumptions.
There are many uses for predictive analytics. Also, it is applied in many areas. It can be applied in societies, organizations, governments, enterprises and individually, too. Always, enterprises are under pressure, more so in today’s competitive market place, to predict what is going to be their future, their competitor’s future and their customer’s future.
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