What is predictive analytics?
Predictive analytics is a category of data analytics aimed at making predictions about future outcomes based on historical data and analytics techniques such as statistical modeling and machine learning. The science of predictive analytics can generate future insights with a significant degree of precision. With the help of sophisticated predictive analytics tools and models, any organization can now use past and current data to reliably forecast future trends and behaviors.
Predictive analytics has captured the support of wide range of organizations, with a global market projected to reach approximately $10.95 billion by 2022, growing at a compound annual growth rate (CAGR) of around 21 percent between 2016 and 2022, according to a 2017 report issued by Zion Market Research.
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