Predictive analytics

Concept and definition

Predictive analytics

What is Predictive analytics?

Predictive analytics is a technique used in artificial intelligence and machine learning to predict the outcome of a future event. This technique involves the use of machine learning algorithms to analyse historical data and create models that can predict how a variable will behave in the future.

Predictive analytics is commonly used in a variety of applications, such as fraud detection, business decision making, process optimisation and prediction of future events. This technique can be useful in situations where a decision needs to be made based on data about a future event, but complete information about the event is not available.

Techniques used in predictive analytics include supervised learning, which involves the use of labelled historical data to train a machine learning model that can predict future outcomes, and unsupervised learning, which involves the use of clustering and association techniques to identify patterns in the data and make predictions based on those patterns.

Predictive analytics can also include the use of statistical models to make predictions and decisions based on the data. These models may be linear or non-linear, and may include techniques such as regression, time series analysis and survival analysis.

« Back to glossary

Do you want to get in touch?

CDRs contain data that a telecommunications company collects about phone calls, such as time and length of call. This data can be used in analytical applications.
Fill the form
Share:
Market, privacy and artificial intelligence

Artificial Intelligence (AI) technologies are currently being used in companies to transform business processes, drive innovation and improve the quality of life of their [...]

Read More »
What is Natural Language Processing?

Natural Language Processing or NLP analyzes how machines understand, interpret and process human language.

Read More »
What is an ERP? Functions and why a company should have it

ERP stands for Enterprise Resource Planning and is a computerized planning and business management system capable of integrating the information [...]

Read More »
AI in the energy sector: main use cases

There is a consensus among executives of the world's leading companies about the crucial impact that Artificial Intelligence (AI) will have on the [...]

Read More »
See more entries
© Gamco 2021, All Rights Reserved - Legal notice - Privacy - Cookies