What is Predictive Analytics?

Skill Level:

Predictive Analytics uses historical data and statistical modelling techniques to make predictions about future outcomes. By analysing patterns and trends within data, businesses can gain valuable insights and make informed decisions. Predictive analytics helps organisations optimise operations, anticipate customer behaviour, and drive growth.

Other Definitions

Instance-Based Learning is an AI approach where models make predictions based on similarity to previously seen examples. Instead of generalising from a predefined set…
Decision networks, also known as Probabilistic Graphical Models, are a type of AI model that represents uncertain knowledge using a graph structure. Decision Networks…
Ontologies are a representation of knowledge that defines concepts and the relationships among them. Ontologies enable machines to structure and reason information in a…
Human-in-the-loop refers to a collaborative approach where humans and AI systems work together to achieve optimal results. It involves combining human expertise, judgement, and…