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PREDICTIVE ANALYSIS Ved Srivastava

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PREDICTIVE ANALYSIS

Ved Srivastava

ANALYTICS AND DECISIONMAKING

Predictive analytics is the practice of extracting informationfrom existing data sets in order to determine patterns andpredict future outcomes and trends. Predictive analyticsdoes not tell you what will happen in the future.

Predictive Models and Analysis Applied toBusiness

Predictive models and analysis are typically used to forecast futureprobabilities. Applied to business, predictive models are used toanalyze current data and historical facts in order to better understandcustomers, products and partners and to identify potential risks andopportunities for a company. It uses a number of techniques, includingdata mining, statistical modeling and machine learning to help analystsmake future business forecasts.

Predictive Analytics Resources

Big Data Analytics Expert Predictions What is Predictive Model Markup Language (PMML)Predictive Analysis DefinedWhat is Big Data Analytics Revolution Analytics - Big Data Analytics Software

Predictive Analytics and Big Data

Predictive analytics is an enabler of big data: Businesses collect vast amounts ofreal-time customer data and predictive analytics uses this historical data,combined with customer insight, to predict future events. Predictive analyticsenable organizations to use big data (both stored and real-time) to move from ahistorical view to a forward-looking perspective of the customer.For example, stores that use data from loyalty programs can analyze pastbuying behavior to predict the coupons or promotions a customer is most toparticipate in or buy in the future. Predictive analytics could also be applied tocustomer website browsing behaviors to deliver a personalized websiteexperience for the customer.

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Top 30 Predictive Analytics Software API

http://www.predictiveanalyticstoday.com/top-predictive-analytics-software-api/

http://www-03.ibm.com/software/products/en/category/predictive-analytics

http://www.ibm.com/developerworks/library/ba-predictive-analytics1/

http://en.wikipedia.org/wiki/Predictive_analytics