Predictive analytics is the use of advanced analytic techniques that leverage historical data to uncover real-time insights and to predict future events. The use of predictive analytics is a key milestone on your analytics journey — a point of confluence where classical statistical analysis meets the new world of artificial intelligence (AI). Predictive analytics can help you transform the way your business operates. But how do you know when it’s the right time to adopt these practices?
The answer is simple: the time is now. Today’s unprecedented convergence of intuitive tools, new predictive techniques and hybrid cloud deployment models makes predictive analytics and modeling more accessible than ever before. For the first time, organizations of all sizes can have the tools to embed predictive analytics into their business processes and to harness AI at scale. Enterprises now have the power to extract value from previously unexplored “dark data”— including everything from raw text to geolocational information.
If your organization can evolve from departmental, small-group AI projects towards an enterprise data science platform, you stand to gain significant competitive advantage. Those who don’t seize the opportunity risk falling behind their competitors.