Who would not be interested in Predicting the future outcomes? You would be amazed to know that it is possible through advanced analytics using historical data combined with statistical modeling, data mining techniques and machine learning. If somehow, we can see a pattern and trends in the data, then it is possible to achieve predictable outcomes. There are analytical tools available which can easily help achieve it.
Predictive analytics is linked with data science and often goes hand in hand. Companies today are sitting in ocean of data which resides across transactional databases, equipment log files, images, video, sensors etc. Gaining an insight from this data, a science called deep learning is exploited by data scientists using algorithms and finding patterns using Machine Learning techniques and successfully determine predictions about future events. This is not limited to deep learning, neural networks, natural language processing, linear and nonlinear regression, and decision trees but also much advanced Artificial and Cognitive intelligence. Outcomes obtained can then be used to drive actions based on predictive insights.