Predictive analytics is a subset of advanced analytics that employs techniques such as artificial intelligence, machine learning, modelling, statistics, and data mining to create future predictions.
A major factor driving the growth of the Predictive Analytics Market is the growing demand for market insights from unstructured data such as documents, call centre transcripts, email messages, social media content, and social networking sites. Only 20% of data in a company is structured, while the other 80% is unstructured. Predictive Analytics Market software derive insights from unstructured data with the use of language processing technology mixed with a number of analytical techniques. Companies can use these insights to understand client mindsets, purchase inclinations, and feelings in ways that structured data alone cannot predict.
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