MACHINE LEARNING

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: -One of the popular use cases for predictive analytics is analyzing customers’ buying behavior in retail industries. Companies use advanced analytics to identify the buying behavior via customers’ purchase history. Ecommerce retailers incorporate predictive analytics in PoS to predict customer purchase patterns.

Detailed explanation-3: -Predictive analytics is the use of data, statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. The goal is to go beyond knowing what has happened to providing a best assessment of what will happen in the future.