The term big data is no longer new. This data that contains greater variety, arriving in increasing volumes and with more velocity has for years now been in the daily conversations in business. IoT World Today brought this interesting topic to us in their article, “Transforming Data with Predictive Analytics.”
With big data comes predictive analytics. How, exactly, do big data and predictive analytics work together to unlock value? Organizations of all kinds have begun leveraging big data and predictive analytics, not just to become more efficient, but for strategic advantage in the marketplace.
Predictive analytics can help an organization forecast future outcomes based on historical data and analytics techniques such as machine learning. Predictive analytics draws its power from a wide range of methods and technologies, including big data, data mining, statistical modeling, machine learning and assorted mathematical processes.
Predictive analytics is actionable intelligence – hidden highlights in the data brought to light that can provide critical insights.
Melody K. Smith
Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.