Making efficient and strategic decisions has never been more important. The last two years have provided unprecedented challenges and opportunities to learn. This information came to us from Financial Director in their article, “Predictive analytics “more necessary than ever”.”
Predictive analytics has become a vital tool in the toolkit to help navigate the current uncertain waters and provide a competitive edge.
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. Organizations use predictive analytics to sift through current and historical data to detect trends and forecast events and conditions that should occur at a specific time, based on supplied parameters.
Predictive analytics can also be used to detect various types of criminal behavior before any serious damage is inflicted. By using predictive analytics to study user behaviors and actions, an organization can detect activities that are out of the ordinary.
Melody K. Smith
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