Predictive Analytics, a form of advanced analytics is used to make predictions about future outcomes and trends. Predictive analytics has its foundation in the ability to predict “what might happen”. In simple words, predictive analytics is based on probabilities.
Predictive analytics makes use of several statistical techniques from machine learning, predictive modeling, data mining, and artificial intelligence to interpret the current source of data to predict the future outcome of events.
Predictive analytics find its application in marketing, insurance, and financial services. Predictive analytics is also used in the healthcare and manufacturing industries. This branch of analytics requires a high level of proficiency with statistical techniques and the talent to build predictive data models.
AQ4 predictive models make use of variable selection algorithms with best practices and cross-validation methods to make advancement in big data and provide accurate and reliable predictions of market outcomes and results based on validation data.