ECONOMICS

Detailed explanation-1: -Predictive research questions are defined as survey questions that automatically predict the best possible response options based on the text of the question. Unique to QuestionPro survey software, predictive questions are made possible through AI-powered machine learning capabilities.

Detailed explanation-2: -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-3: -Predictive analytics answers “what will happen?” These tools provide insights about likely future outcomes-forecasts, based on descriptive data but with added predictions using data science and often algorithms that make use of multiple data sets. The more data available, the better the predictions.

Detailed explanation-4: -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.