Dictionary Term

Predictive Analysis

AKA:

Predictive analysis is the act of mining historical data to forecast future events or trends. Predictive analysis hinges upon “predictors”: a variable or set of variables that can be measured to calculate the statistical likelihood of future occurrences.

For example, insurance agencies employ predictive analysis to determine insurance rates, using factors such age, gender, and driving history as predictors to estimate the likelihood that an individual will drive safely in the future.

Sources :


http://searchcrm.techtarget.com/definition/predictive-analytics http://www.techopedia.com/definition/180/predictive-analytics http://en.wikipedia.org/wiki/Predictive_analytics



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