Predictive analytics will revolutionize research and development within any industry. It will enable businesses to make smarter, better informed, decisions and enable governments to reinvent how they run a society. Predictive analytics includes a diversity of methods, from statistics and modelling to machine learning and data mining, that analyse existing and historical data to make predictions about upcoming, or otherwise unknown, events.
Predictive analytics will revolutionize research and development within any industry. It will enable businesses to make smarter, better informed, decisions and enable governments to reinvent how they run a society. Predictive analytics includes a diversity of methods, from statistics and modelling to machine learning and data mining, that analyse existing and historical data to make predictions about upcoming, or otherwise unknown, events.
Predictive analytics has its origin in the 1940s, when governments started using the first computational models. With non-linear programming and real-time analytics, data analytics and prescriptive analytics goes mainstream and becomes available to all organizations. With the rise of the big data technologies, we have now entered a new era of predictive analytics that will personalize and democratize data (analytics) for organisations, individuals and governments. This infographic gives an illustration about the history of predictive analytics:
