What is predictive analytics?

bellen

And what's its biggest benefit?

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Christopher Nerney
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Predictive analytics is the application of algorithms and statistical modeling to massive amounts of data in order to make forecasts about future events.

http://en.wikipedia.org/wiki/Predictive_analytics#Technology_and_Big_Dat...

Here's a link to a webcast on predictive analytics run by a Forrester analyst:

http://www.itworld.com/big-data/334255/big-data-predictive-analytics-fut...

jimlynch
Vote Up (18)

You may find this page interesting.

What is predictive analytics?
http://www.predictiveanalyticsworld.com/predictive_analytics.php

"Predictive analytics is business intelligence technology that produces a predictive score for each customer or other organizational element. Assigning these predictive scores is the job of a predictive model which has, in turn, been trained over your data, learning from the experience of your organization.

Predictive analytics optimizes marketing campaigns and website behavior to increase customer responses, conversions and clicks, and to decrease churn. Each customer's predictive score informs actions to be taken with that customer — business intelligence just doesn't get more actionable than that.

What's the best way to learn about predictive analytics? There's no better way to learn than from concrete case studies such as those presented by Fortune 500 analytics competitors and other top practitioners at the next Predictive Analytics World. In the meanwhile, start by taking a look through the resources listed below on this page."

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