Business leaders today who use artificial intelligence (AI) and analytics to find patterns from data can gain competitive advantages. Predictive capabilities are popular and being utilized at an increased rate. The Business Journals brought this topic to us in their article, “Predictive analytics: Introducing your business to its future self.“
As companies emerge from the economic impact of COVID-19, they need new insights and data to proceed. Pre-COVID-19 data may not offer much wisdom. Prediction analytics combine powerful statistics and AI to help you look ahead to what might happen in the future.
The goal of predictive analytics in any field is to reliably predict the unknown. Prediction certainty changes with the type of question asked. Big data and algorithm production has reignited interest and excitement around predictive analytics.
Organizations that shift from experience-based, top-down decision-making to data-driven, bottom-up decision-making, will excel at learning from the future.
Melody K. Smith
Sponsored by Access Innovations, changing search to found.