Mastering the Internet of Things with SAP HANA's predictive analytics capabilities

Even though predictive analytics has been around for quite some time, interest around this topic has increased over the last couple of years. It is no longer enough for a company to accurately record what has happened. Today, an organization's success depends on its ability to reliably predict what will happen – be it predictions about what a customer is likely to buy next, an asset that could require maintenance, or the best action to take next in a business process. Predictive analytics uses (big) data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data, enabling both optimization and innovation. Existing processes can be improved – for example by forecasting sales and spikes in demand and enabling the required adjustments to the production planning.