What is predictive analysis?
Predictive analysis encompasses a variety of statistical techniques from data mining, predictive modelling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.
Why is predictive analysis important?
Predictive analytics are used to determine customer responses or purchases, as well as promote cross-sell opportunities. Predictive models help businesses attract, retain and grow their most profitable customers. Improving operations. Many companies use predictive models to forecast inventory and manage resources.