Which of the following is a function of predictive analytics?

Question

A) to analyze people present in photos and tag them to other photos on its own

B) to deal directly with customers and handle all routine transactions

C) to unlock the value of business intelligence for strategy

D) to follow predetermined policies and procedures

Answer 1

The correct answer is option C (to unlock the value of business intelligence for strategy). The main goal of predictive analytics is to make strategies that can unlock business intelligence using statistical models.

Predictive analytics is used in banking, financial services, and insurance sector, to predict the fraudulent activities and predicting customers at a higher risk. It is also used in forecasting weather conditions related to rainfall, temperature. It is also used majorly in retail for identifying loyal customers.

If you want to learn Predictive Analytics, you can enroll in these Data Analytics Courses and Data Science courses by Intellipaat.

You can watch this video to have an overview of predictive analytics and get started with Predictive Analytics with R: