Predictive Analytics
Example
For example, a company that implements Predictive Analytics strategies, like They used predictive analytics to forecast sales trends., can see significant improvements in their business performance by streamlining workflows, enhancing productivity, and boosting overall profitability.
Definition
The practice of extracting information from existing data sets to predict future probabilities. This term is crucial in the Predictive Analytics context as it helps businesses understand how to Predictive Analytics in their operations, making it highly relevant for industries looking to optimize Predictive Analytics processes.
Disclaimer: The terms and definitions provided in this business dictionary are for informational purposes only. While every effort has been made to ensure accuracy, the content may not be exhaustive and may not be applicable to all business situations. Readers should seek professional advice before making business, legal, or financial decisions based on the information provided. The authors and publishers are not responsible for any errors, omissions, or outcomes related to the use of this dictionary.