What is predictive analytics?
Predictive analytics analyses pre-existing data to work out what might happen next. Statisticians have used it for decades, but businesses are increasingly adopting predictive analytics to predict what customers may do in the future. By analysing historical data, algorithms can gain insights into potential future behaviours – whether someone is likely to convert, for example.
Predictive analytics techniques use technologies such as…
- Predictive modelling: Statistical technique that predicts future behaviour by analysing historical data and creating a model for predictions.
- Data mining: Analysing large amounts of data to identify patterns and similarities using pattern recognition and mathematics.
- Machine learning: Computer analyses data and uses insight to make predictions or suggestions. Uses technologies such as natural language processing.
Ready for predictive analytics? Adobe can help. Request a demo or arrange a call-back today