What is Predictive Analytics?
Predictive analytics is the use of data and machine learning algorithmic technology to identify and inform future outcomes based on company, market, and global data. By definition, predictive analytics is the branch of the advanced analytics which is used to make predictions about unknown future events. Predictive analytics uses many techniques from data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data to make predictions about future.
Predictive analytics has been around for decades. However, technology has changed the predictive analytics landscape. Organizations have realized quickly that building in predictive analytics process into planning is no longer a ‘nice to have,’ but has become a necessity. Companies are turning to predictive analytics companies to increase their bottom line, overall planning, and competitive advantage.
Software tools and service have become easier to integrate and manage across organizations. Once thought of as the expertise of company mathematicians and statisticians, predictive analytics has transformed into a multifunctional tool that spans roles and experience levels. Business analysts, department leaders, and C-Level executives can access and use advanced statistical analytics to increase productivity.
What is the Predictive Analytics Use Case?
Predictive analytics is used in almost every type of organization financial services, insurance, telecommunications, retail, CPG, travel & hospitality, capacity planning, product development, pricing models, customer lifecycle, sales planning and much more.
Predictive Analytics Professional Solutions
For companies who may not have a dedicated analytics team or for larger organizations who want to establish best practices in predictive analytics before committing to process changes, Prevedere can scale to provide insight that benefits any size organization.
By leveraging powerful software, our team of experienced data scientists and economists, we quickly help improve future demand forecast for our clients’ products and services.
Prevedere predictive analytics tools allow your organization to take the first step to discover the power of predictive analytics with global data.
What is predictive analytics?
Global Data Cloud
Search our database of over 2 million global datasets as easy as a Google search. Refine your search by data, source, or frequency. Download the raw data to use within your application any way you wish.
Data Model Workbench
The Workbench is the heart of Prevedere’s software. In real-time, you can see the lead times of the most predictive data and factors for your business. Find the highest r-squared values or toggle between various calculation methods to truly understand what drives performance.
Real-time Forecasts
With our intuitive web-based interface, you can view all your forecast models from any device. Create annotations for any data point to relay insights to your team, toggle between forecast and actual performance, and export data to use in other software.
Excel Plugin
If your company lives on spreadsheets, we have you covered. Our Excel plugin securely connects to your Prevedere account to quickly access every forecast models, graphs, and raw data for. Direct import into your existing spreadsheets reduces time and effort.