Understanding predictive analytics

Predictive analytics or predictive analysis is the next stage of analytics. This is, in our opinion, one of the most enjoyable and amazing phases of any project on which we have worked.

Figure 2.12 – The fourth step of your data journey: the phase of predictive analytics

When a solid foundation for data management has been established, achieving greater governance becomes possible. The next step is to arouse curiosity and cast a glimpse into the future. Predictive analysis is the study of historical data to forecast future behavior. Predictive analysis necessitates the use of various techniques, models, and even behavior. However, when done correctly, it can assist an organization in becoming more proactive. We know from experience that 80% of predictive questions are time-related when we look at predictive use cases (over time, next year, next month, and so on).

The following questions become current:

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