An Insight into Predictive Analytics Techniques

Abstract: Predictive Analytics is the branch of advanced analytics which is used to make predictions about unknown future events. It deploys many techniques like Data mining, Artificial Intelligence and Machine Learning to analyze current data to make future predictions. In this paper we will study about different predictive models such as Decision Tree, Regression Analysis and Neural Network. These methods use known results to develop a model so as to predict values for different or new Data. Any industry can use predictive analytics techniques to reduce risk, optimize operations and increase revenue. It can be used in Banking and Financial industry, Governments and the public sector, Retail industry, Health care industry, Manufacturing, Oil and Gas Industry. This paper gives a good insight to whoever wants to know and use the predictive analysis for his academic or business applications.