Which of the following statements accurately defines the term predictive analytics?

Question

A) data mining approaches and statistical techniques used to predict future behavior, especially to unlock the value of the business intelligence for strategy
B) software programs or "bots" that are sent out to conduct a mission and collect data from web pages on behalf of a user
C) a gateway that provides access to a variety of relevant information from many different sources on one screen
D) a technique that analyzes features in order to predict people present in photos and tag them to other photos on its own

Answer 1

The correct answer is the statement (A). Predictive analytics involves data mining from different sources, statistical techniques like regression, classification, and clustering algorithms to predict the most likely outcome in the future. Predictive analytics allows companies to take make strategies that can help in improving their business.

Predictive analytics is used in almost in all industries like Retail for sales forecasting and customer segmentation, in Entertainment field to recommend the content to users, in Healthcare to forecast the spread of disease, etc.

If you want to learn Predictive Analytics, you can register for these Data Analytics Certification and Data Science online courses by Intellipaat.

You can watch this video to have a better understanding of predictive analytics: