What is Predictive Analytics

By |March 29th, 2013|Categories: Predictive Analytics|Tags: , , |

Predictive analytics is an area of statistical analysis that deals with extracting information from data and using it to predict future trends and behavior patterns. The core of predictive analytics relies on capturing relationships between explanatory variables and the predictive variables from past occurrences, and exploiting it to predict future outcomes.

Predictive modeling draws from statistics and optimization techniques to extract accurate information from large volumes of data. Modeling techniques produce interpretable information allowing maintenance personnel […]