What do you do when your business collects staggering volumes of new data? We support our customers in providing the Predictive analytics, which controls the information and use it at right time and right way, the term "big data" has had so much attention that it has become popular, and now I hear people using it to describe all sorts of data that doesn't come close to pushing the envelope of current data management methods.
Predictive analytics is just what it sounds like: the use of data analysis methods to make estimates of things you don't know. The weather forecast is a form of predictive analytics. When your credit card company calls to check on a charge, they may have used predictive analytics methods to flag charges that are not typical for you. There are thousands of practical applications of mathematics like this.
So, "big data" describes the data itself, and the challenge of managing it, while "predictive analytics" describes a class of applications for the data, regardless of quantity.
Hadoop captures, stores and processes the large volumes of data streaming from connected devices and sensors that measure your business. A combination of Hadoop predictive analytics with a variety of data science and iterative machine-learning techniques can make confident real-time recommendations that reduce costs, improve safety, and inform investments.
Analytics becomes main stream and more and more businesses harness its power, the maturity of businesses is also rising, as are the expectations. Analytics has been used to examine historical data to analyse key events and occurrences. Now the focus is on getting gleaning actionable intelligence for future events. And businesses are turning to Predictive analytics to gain this insight. Investopedia defines predictive analytics as ‘The use of statistics and modelling to determine future performance based on current and historical data'. Predictive analytics look at patterns in data to determine if those patterns are likely to emerge again, which allows businesses and investors to adjust where they use their resources in order to take advantage of possible future events
Predictive Analytics is being leveraged to examine past performance and forecast revenue generating patterns, understand customer behavior and use the information to offer better products and services, fine tune ability to identify risks by catching suspicious trends, optimize processes and more.