What is Predictive Analytics? – DevTeam.Space [Video]

Wondering what predictive analytics is in simple words? After reading this article, you’ll know the basics of predictive analytics and the stages of a predictive analysis process.

In this article

1. Predictive Analytics: Definition
2. Stages of a Predictive Analysis Process
3. Frequently Asked Questions on Predictive Analytics

Predictive Analytics: Definition

Predictive analytics or predictive analysis is a branch of advanced data analytics. It helps businesses forecast future events by examining historical data through predictive models.

Data trends and actionable insights gained through predictive analytics tools assist business leaders in making impactful business decisions.

Businesses have big data available today in the form of sales history, customers’ information, customers’ reviews, complaints, etc. All this data is useless if not properly analyzed and converted to something meaningful. 

The predictive analytics models make the process of data analysis for future predictions easier through the use of statistical techniques, data mining, and artificial intelligence techniques.

Artificial neural networks and deep neural networks are trained on big data using …