What Is Predictive Analytics and How To Get Started
TL: DR: Predictive Analytics is using historical and real-time data to generate useful insights and predicting critical outcomes in the future. A large number of organizations are leveraging this AI-powered technique to reduce risks, improve operations, cut business costs, and increase the bottom line. What is Predictive Analytics? Gartner defines Predictive Analytics (PA) as a form of advanced analytics which examines data or content to answer the question “What is going to happen?” or more precisely, “What is likely to happen?”, and is characterized by techniques such as regression analysis, multivariate statistics, pattern matching, predictive modeling, and forecasting. Grandview research recently estimated that the global market for predictive analytics is growing at a CAGR of 23.2% and projected to grow to $23.9 Billion by 2025. Initially, the purview of a few visionary companies, predictive analytics is rapidly gathering momentum in the market. Several industries such as banking, financial services, insurance,…
