Predictive Techniques, Diagnostic Analytics, and Cluster Analysis
Watch the video on predictive analytics, a kind of technology that learns from experience (data) to predict the future. Predictive analytics in business involves using statistical algorithms, machine learning techniques, and data mining to analyze historical data and identify patterns, trends, and relationships that can be used to make predictions about future events or outcomes. By leveraging historical data and relevant variables, predictive analytics enables organizations to forecast customer behavior, anticipate market trends, optimize operations, mitigate risks, and enhance decision-making across various business functions such as marketing, sales, finance, and supply chain management.
Source: Hajira H, https://www.youtube.com/watch?v=syETaMmXnkE
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