What are the Benefits of Predictive Analytics?

Question

Can anyone tell me what are the Benefits of Predictive Analytics?

Answer 1

Predictive Analytics significantly reduces the cost for the companies in finding forecast business outcomes, environmental factors, competition in the market, etc..

Here are a few of the ways how predictive modeling benefits us:

• Demand forecasting
• Workforce planning and churn analysis
• Forecasting of external factors
• Analysis of competitors
• Fleet or equipment maintenance
• Modeling credit or other financial risks

If you are interested to learn Predictive Analytics, I suggest these Data Analytics Certification and Data Science online courses by Intellipaat.

Also, watch this video on Predictive Analysis using Python to get started: