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Home / About / FAQ / Data Insights / What is Predictive Analytics?
Predictive analysis is a branch of advanced analytics that is used to forecast unknown future events. It is used to analyze current data and make predictions using a variety of approaches, including data mining, statistics, modeling, machine learning, and artificial intelligence. Predictive analytics models record relationships between various elements to quantify risks or opportunities for a specific set of conditions.
Standard business information and reporting provide insights that are not immediately actionable; businesses must turn them into action with their analysis and judgment. On the other hand, predictive analytics is developed exclusively to provide decisive action imperatives. It helps organizations make well-informed business decisions without involving human judgment. Organizations can use predictive analytics to:
Apart from helping businesses predict outcomes, and therefore, making informed business decisions, predictive analytics also helps organizations improve their business operations and refine their marketing campaigns.
Predictive analytics not only analyzes but also learns from client actions and habits. The data gathered from these predictive models, can also be refined to provide crucial parameters such as the day of the week on which consumers redeem a specific offer. Companies can offer highly relevant recommendations tailored to their customers’ needs thanks to the rich data predictive analytics offers.
Synoptek has a highly skilled team with a broad spectrum of functional and technical knowledge related to predictive analytics. Predictive analytics is an offering under our Artificial Intelligence service.
As businesses seek to nurture more relevant and meaningful connections with consumers, our predictive analytics service, tailored to their individual needs, allows them to create and sustain long-lasting customer relationships.
Other related service offerings provided by Synoptek are:
To know more about Predictive Analytics, click here.
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