PREDICTIVE ANALYTICS: PROVIDING INDICATORS FOR THREATS AND OPPORTUNITIES

Predictive analytics includes a variety of techniques to understand facts and truths about our past and present and accordingly make decisions regarding the future. Predictive analytics is used in a wide variety of disciplines whether in financial services, telecommunications, healthcare, retail, travel, pharmaceuticals, insurance, markets and actuarial science. This analytics deals with extracting and collecting facts and figures and using them to make a compilation of data that can predicts future patterns and occurrences and therefore make important decisions for the future well being of the company.

Predictive analytics has predictive models in order to provide a framework and to judge and predict how a certain behavior that a customer makes in the future is going to affect market performance. There are broadly two types of techniques to conduct predictive analytics and they are…

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