Predictive analytics(PA) encompasses a variety of statistical techniques from modeling, data mining and game theory that analyze current and historical facts to make predictions about future events. In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for candidate transactions.
How can Predictive analytics increase your sales?
Big data analyze your terabits of data and transform it into a functional sales generating monster. Till now your organization is using the data collected from various sources to produce only reports. Predictive analytics and big daya add a layer into your existing processes that trains this data to predict your future goals. Here are a few questions, which PA will be able to answer which your existing processes don’t do as effectively.Read on →