Predictive analytics is a widely used tool in marketing, with a CAGR of 21% and a global market of $23.9 billion by 2027. It involves the implementation of machine learning, predictive modelling, and predictive targeting concepts to forecast campaign outcomes, user behaviour, and market trends. To ensure accuracy, companies must investigate data collection processes, data quality, and whether or not cleaned data is being used in the modelling. Additionally, predictive analytics is based on the assumption that future outcomes will be similar to those in the past.
