predictive analytics
The practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive models and analysis are typically used to forecast future probabilities with an acceptable level of reliability.
Applied to business, predictive models are used to analyze current data and historical facts in order to better understand customers, products and partners and to identify potential risks and opportunities for a company.
Predictive analytics and data mining solutions for the enterprise are currently available from a number of companies, including SAS (Predictive Analytics Suite), IBM (IBM SPSS Statistics), and Microsoft (Microsoft Dynamics CRM Analytics Foundation).
See also business intelligence.
Also see data mining.
Visit eCRM Guide to learn more about predictive analytics and enterprise applications.
Featured Partners Sponsored
-
1
Google Glass
Google's project program for developing a line of hands-free, head-mounted intelligent devices that can be worn by users as eyewear.
-
2
ERP - Enterprise Resource Planning
Short for enterprise resource planning, ERP is business management software that allows an organization to use a system of integrated applications...
-
-
3
private cloud project
Companies initiate private cloud projects to enable their IT infrastructure to become more capable of quickly adapting to continually evolving...
-
4
cloud backup
A cloud backup (cloud computer backup) refers to backing up data to a remote, cloud-based server. As a form of cloud storage, cloud backup data is...
-
5
Raring Ringtail (Ubuntu Codename)
Raring Ringtail is the Ubuntu codename for version 13.04 of the Ubuntu Linux-based operating system.
-
6
resistive memory - ReRAM, RRAM
ReRAM, or resistive memory cells, is a type of non-volatile memory that is considered to be a type of memristor technology.
-
7
BYOD - bring your own device
A phrase that has become widely adopted to refer to mobile workers bringing their own mobile devices, such as smartphones, laptops and PDAs, into...
-
8
CRM - Customer Relationship Management
Short for customer relationship management, CRM entails all aspects of interaction a company has with its customer, whether it be sales or service...
-
9
mobile operating system
The mobile operating system is the software platform on top of which other programs, called application programs, can run on mobile devices.
-
10
private cloud
The phrase used to describe a cloud computing platform that is implemented within the corporate firewall, under the control of the IT department....
Connect with Webopedia
-
-
The Difference Between Adware & Spyware
Not technically fitting into either the virus or spam category we have spyware and adware, which are growing concerns for Internet users.
