Dispelling Confusion
Predictive analytics is the practice of analyzing a set of current data to find patterns, anomalies, and outliers. That analysis is then used to predict future trends, and to spot repeating patterns before they reoccur. That foreknowledge is used to guide business decisions to improve revenue, reduce costs,prevent fraud, and improve customer satisfaction.
Predictive analytics can also help make advances in scientific knowledge, improve healthcare, reduce energy consumption in networks and data centers for a healthier planet, prevent cybersecurity breaches, and provide a lot of other benefits depending on how and where the same methods are applied.