Predictive Analytics
ABOUT
Predictive analytics is a component of data mining dealing with statistical techniques and machine learning in order to predict probable future trends by analysing current and historical facts.
Producing a predictive score for each customer or organisational event and assigning these scores, predictive analytics learn from experience in order to implement it for prediction. In this way the method can be for example implemented for the optimisation of marketing campaigns or website behaviour. Consequently, customer responses, conversions and clicks can be increased.
Beside its implementation for the optimisation of marketing strategies, predictive analytics is also applied in other fields of work such as research, meterology and economy.
RESOURCES
Deshpande, B. (2015). Predictive Analytics and Data Mining. Predictive Analytics and Data Mining (pp. 305–327). Elsevier.
