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Predictive analytics is a data analytics discipline that uses historical data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes. Different tools, such as regression models, classification trees, neural networks, and queuing models, are used to perform this analysis. Univariate techniques observe a single characteristic or attribute, while more sophisticated algorithms look at multiple variables. Predictive analytics is used to inform organizations about what is likely to happen in the future and how to prepare for it.
