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Predictive Analytics Software
Predictive Analytics Software helps organizations to identify potential future outcomes based on key events and historical data. In order to survive and thrive, businesses now need to plan for and also anticipate how certain events will affect them. Predictive Analytics Software now offers tools that can help organizations to mitigate business risks, enhance efficiency, and also gain a competitive edge against their competitors by making better decisions.
They work by building predictive data models using high-level statistical methods such as decision trees, regression models, advanced algorithms and other complex analyses. This is achieved by combining several variables into a predictive model that could be used to predict future outcomes with a fairly high degree of reliability.
Corporations are beginning to embrace predictive analytics as an important part of their strategy. Even though it was initially popular in the financial, insurance, and government sectors, predictive analysis is now common in many other sectors. Even smaller businesses now use predictive analysis software to inform their marketing and advertising strategies.
Predictive Analytics Software vary in complexity, application, and data mining methodologies. Some require heavy user-input while others may accept spreadsheets or word documents. Others are better suited for specific kind of data or even designed for specific industries.
PAT Grid™ for Predictive Analytics Software
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