Somewhere along the way computers transformed from filing cabinets for data into crystal balls that foretell the future by examining that data to predict what might happen in a few seconds, a few days, maybe even a few years.
Many of the tools for accomplishing this feat fall under the term “predictive analytics.” The term is a catch-all for algorithms developed over the years, from wildly different corners of statistics, artificial intelligence, machine learning and multidimensional mathematics. These tools emerged from the lab to populate corporate server farms and now they’re ready to guide business teams toward making the right decisions about allocating resources and reaping profits.
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(Insider Story)
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Source: News