BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Predictive analytics is a branch of advanced analytics that makes predictions about future outcomes using historical data combined with statistical modeling, data mining techniques and machine learning. Companies employ predictive analytics to find patterns in this data to identify risks and opportunities.

Detailed explanation-2: -Predictive analytics has its roots in the ability to “predict” what might happen. These analytics are about understanding the future. Predictive analytics provides companies with actionable insights based on data. Predictive analytics provides estimates about the likelihood of a future outcome.

Detailed explanation-3: -There are four types of analytics, Descriptive, Diagnostic, Predictive, and Prescriptive.

Detailed explanation-4: -Predictive analytics uses historical data to predict future events. Typically, historical data is used to build a mathematical model that captures important trends. That predictive model is then used on current data to predict what will happen next, or to suggest actions to take for optimal outcomes.

Detailed explanation-5: -Types of Predictive Analytical Models There are three common techniques used in predictive analytics: Decision trees, neural networks, and regression.