The ability to predict future events and trends is crucial across industries. Predictive analytics appears more often than you might assume—from your weekly weather forecast to algorithm-enabled medical advancements. This interesting subject came to us from Gulf Business in their article, “What are the benefits of predictive analytics for businesses?“
Though predictive analytics has been around for decades, it’s a technology whose time has come. More and more organizations are turning to predictive analytics to increase their bottom line and competitive advantage.
Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future.
Making data accessible is key to utilizing predictive analytics. Whatever you are searching for, it is important to have a comprehensive search feature and quality indexing against a standards-based taxonomy. Choose the right partner in technology, especially when your content is in their hands. Access Innovations is known as a leader in database production, standards development, and creating and applying taxonomies.
Melody K. Smith
Sponsored by Access Innovations, changing search to found.