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Improving Efficiencies Through Use of Predictive Analytics

2 years ago Category:

Improving Efficiencies Through Use of Predictive Analytics

Makeitdeals is a B2B platform, organized by industry, for buyers and sellers of technology solutions, especially focusing on technologies like Predictive Analytics, IoT, Blockchain and AI. In this article, we will focus on the current use of Predictive Analytics techniques and also future trends.

In simple terms, Predictive Analytics is the technique of using past and present data in conjunction with machine learning and other statistical algorithms to identify patterns that are then used to predict the likelihood of future outcomes. Once the nature of probable future outcome is known with a fair degree of accuracy, necessary steps can then be put in place to address these outcomes and thereby improve efficiencies of the underlying operational processes.

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