Predictive Analytics Pronunciation: /prɪˈdɪk.tɪv əˈnæl.ɪ.tɪks/ (pri-DIK-tiv uh-NAL-ih-tiks) Part of Speech: Noun
Definition:
Noun. Predictive analytics uses statistics, data patterns, and computational models to estimate the likelihood of future outcomes or trends.
Predictions are estimates, not certainties, and their quality depends on the data, assumptions, model design, and context.
Example: A retailer used predictive analytics to estimate demand and plan inventory.