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Predicitve Analytics

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Predicitve Analytics

Predictive analysis is a type of data mining which deals with forecasting of trends, pattern and probabilities.

Location: Zurich
Members: 10
Latest Activity: Feb 3, 2017

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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Comment by Arjun Gupta on May 21, 2011 at 2:42am

Hi Juhl,

 

(Pattern recognition, link analysis) predictive analysis technology is constantly transforming and improvising in anticipation of client needs.

 

But what are the new challenges?

 

 

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