Predictive Analytics

What it is

Predictive analytics is the process of extracting information from historical data and using it to forecast future trends and patterns.

Why it matters

The ability to determine future actions based on past behaviour is a highly powerful decision making toolset which helps businesses identify new revenue potential and create new opportunities.

Where it's going

Predictive analytics systems of the future will provide a wide range of statistical algorithms to offer different modelling techniques so as to provide more meaningful results. Such systems will also become more affordable and provide more actionable insights for businesses to readily act on.

Applications of Predictive Analytics

Financial markets
Compliance reporting
Healthcare diagosis
Risk assessment
Customer segmentation
Sales forecasting

Questions about Predictive Analytics

  • How can i get started on predictive analytics?
  • As a branch of data science, embarking on making predictive analytics for your businesses, requires you to have a stable data infrastructure system set up.
  • What are some examples that predictive analytics can offer?
  • Taking for example e-commerce, predictive analytics can offer managers pricing suggestions, most effective promotional tools, etc. In financial services, companies could better forecast market trends, develop more accurate credit risk models, etc.
  • What is the difference between predictive and traditional analytics?
  • While traditional analytics mainly focuses on insights that affect the present situation, predictive analytics seeks to enable managers to pinpoint upcoming behaviour and long term trends.

What you get with One X Tech

One X Tech
  • Extensive technological expertise
  • Transparent fees and pricing
  • Bespoke quality software
  • Business-first mindset
  • Professional service
Traditional firms
  • Offshore development
  • Unoriginal templates
  • Legacy technologies
  • Reduced initiative
  • Challenging to scale
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What happens next

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  2. 2
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  3. 3
    Share further requirements
  4. 4
    Receive free quotation

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