Analytics is an important part of managing a business today. There are many types of analytics techniques, with predictive and prescriptive analytics being two key ones. But what is predictive analytics, and what is it used for?
Predictive Analytics Today describes predictive analytics as “The branch of advanced analytics which is used to make predictions about unknown future events.” It “uses many techniques from data mining, statistics, modeling, machine learning and artificial intelligence to analyze current data to make predictions about the future.”
