Predictive analytics is helping businesses in fields as diverse as healthcare, retailing, hospitality and insurance peer into the future to optimize inventories, manage staffing, enhance customer engagement, set pricing and achieve many other profit-building goals.
Thanks to steady advances in artificial intelligence (AI) and machine learning (ML), predictive analytics is growing increasingly accurate and insightful. Yet many businesses continue to view predictive analytics with various degrees of skepticism, convinced that the technology remains too complex, too disruptive and too expensive to incorporate into routine use.
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Source: News