What is predictive analytics? Transforming data into future insights.

Predictive Analytics is a division of advanced analytics which is used to forecast uncertain future events. Predictive analytics make use of an array of technologies from different domains such as data mining, statistics, modeling, machine learning, and artificial intelligence to analyze historic data to forecast the future. It uses a stack of data mining, predictive modeling and analytical methodologies to bring together the management, information technology, and modeling business process to forecast the future. The historical and transactional patterns of data can be used for risk identification and future opportunities. Predictive analytics models detect correlation among many factors to assess risk with a particular set of conditions to give a score or weightage.