Predictive Analytics

The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.

What is Predictive Analytics in cloud computing?

Predictive Analytics in cloud computing refers to the use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.

  • It's about using data to predict future trends and behavior patterns.
  • Predictive analytics provides companies with actionable insights based on data.

How does Predictive Analytics work?

Predictive Analytics works by using data, statistical algorithms, and machine learning techniques to predict future outcomes.

  • It involves collecting data, creating a statistical model, making predictions, and validating the model with additional data.
  • Predictive analytics can be used to forecast everything from customer behavior to equipment failures.

Predictive Analytics Example

An e-commerce company, EcomShop, uses predictive analytics to forecast sales trends. They collect data on past sales, customer behavior, and market trends, and feed this into a predictive model. The model then forecasts future sales trends, allowing EcomShop to make informed business decisions and plan effectively for the future.

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