The primary purpose of predictive analytics is to identify, with a high degree of probability, what will happen in the future. This separates predictive analytics from descriptive analytics, which helps analysts understand what has already happened, and prescriptive analytics, which uses optimization software to determine the best decisions to deal with the trends revealed by predictive analytics. It has become a popular concept, with interest steadily rising over recent years. Entrepreneur brought this topic to our attention in their article, “Data Isn’t Important, But How You Consume It Is.”
For many companies, predictive analytics is nothing new. But it is increasingly used by various industries to improve everyday business operations and achieve a competitive differentiation.
In many ways, how a company consumes data is similar to gold mining. Data Harmony’s semantic tools allow for concept identification and recommendations. You know your world, but do you know your content?
Data Harmony is a fully configurable suite of software modules designed to maximize precise, efficient information management and retrieval. We help you turn unstructured content into usable data objects that allow you to work with your knowledge base in meaningful and valuable ways.
Melody K. Smith
Sponsored by Data Harmony, harmonizing knowledge for a better search experience.