Why Businesses Need to Adopt Predictive Analytics?

Why Businesses Need to Adopt Predictive Analytics?

Why Businesses Need to Adopt Predictive Analytics?

Future holds an unflinching intrigue and fascination for everyone, from ordinary citizens to large business enterprises. The continuous proliferation of data is driving businesses to place data at the core of their business strategies. Businesses are trying their best to stay ahead of the pack by using predictive analytics and exploit various growth opportunities.

Challenges abound as enterprises tend to make sense of this astronomical amount of data. This is where Predictive analytics comes into the picture. literally means the process of making sense of the large amount of data, developing a model based on the gathered information from the data and predicting the probability of certain outcomes in the future. In this way it helps you to be ready for the future—whether it’s catering to the target audience or getting prepared for some misfortune or downturn in the near future.

A number of predictive modeling techniques are available in the market such as artificial intelligence, machine learning, and statistics to develop a relevant predictive model to suit the needs of an enterprise. Through testing, validation, and evaluation, businesses select the right model apropos to their business needs. Each model has its own strengths and weaknesses and they cater to specific needs. Integrated predictive analytics to understand the drivers of demand and tactical course correction is the way forward and this is where the future of predictive analytics lies.

Read Also:
Artificial intelligence: Leveraging machines to dissect ransomware DNA

The modeling techniques are playing pivotal role in building innovative applications across the industry verticals. Some of the use cases are discussed below:

Health Care: Predictive analytics helps in predicting the patterns in patients with chronic illnesses such as asthma, diabetes and other such diseases. It also helps in taking critical decisions at the time of care.

 



Chief Analytics Officer Europe

25
Apr
2017
Chief Analytics Officer Europe

15% off with code 7WDCAO17

Read Also:
Big Data Driving New Approaches in Econometrics

Chief Analytics Officer Spring 2017

2
May
2017
Chief Analytics Officer Spring 2017

15% off with code MP15

Read Also:
Do We Need Big Data to Create Smart Cities?

Big Data and Analytics for Healthcare Philadelphia

17
May
2017
Big Data and Analytics for Healthcare Philadelphia

$200 off with code DATA200

Read Also:
Big Data Is Lending A Helping Hand To Pets

SMX London

23
May
2017
SMX London

10% off with code 7WDATASMX

Read Also:
Artificial intelligence: Leveraging machines to dissect ransomware DNA
Read Also:
An Infusion of AI Makes Google Translate More Powerful Than Ever

Data Science Congress 2017

5
Jun
2017
Data Science Congress 2017

20% off with code 7wdata_DSC2017

Read Also:
Cloudera Partners with Docker, Inc. to Provide the First Commercially-Supported Secure Containers

Leave a Reply

Your email address will not be published. Required fields are marked *