Predictive Analytics - Page 16

Predictive Analytics is a branch of advanced analytics that uses historical data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical patterns. Its primary purpose is to forecast potential events or behaviors by analyzing past data trends and behaviors, enabling organizations to make informed decisions. Predictive analytics can be applied across various fields, including marketing, finance, healthcare, and supply chain management, to gain insights into customer behavior, risk assessment, performance forecasting, and more. By leveraging data from multiple sources, predictive analytics helps in identifying trends, understanding relationships, and improving the accuracy of predictions.