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Showing posts with the label Predictive Analytics

Business Analytics VS Predictive Analytics

Business Analytics - Predictive Analytics  Business analytics (BA) encompasses all of an organization's performance measurement tools and approaches. Business analytics is a set of statistical techniques that can be used to analyze a project, process, or product. Business analytics can also be used to assess a corporation as a whole. Business analytics is used to find flaws in existing processes and to highlight important data that can help a company prepare for future development and issues. Predictive analytics refers to a set of analytical and statistical methods for creating models that can predict future events or actions. Predictive models come in a variety of shapes and sizes, depending on the event or behavior that needs to be predicted. Almost all predictive models generate a score, with a higher score indicating that a specific event or behavior is more likely to occur. The demand for strong business analytics has prompted the development of business analytics software an...