What are Predictive Analytics?
Definition
Data analysis using statistical algorithms and machine learning to forecast future outcomes based on historical patterns. Predictive analytics applications include churn prediction, demand forecasting, lead scoring, and maintenance prediction with confidence intervals."
Why This Matters
Predictive analytics forecasts outcomes including churn risk, demand, and lead scoring based on historical patterns. Value depends on data quality and model accuracy. Request validation methodology and confidence levels.
Related Terms
Showing semantically related terms from our RFP knowledge graph. Priority connections are highlighted.
Essential Connections
Machine Learning
Software Features & Capabilities
Algorithms enabling software to learn from data patterns without explicit programming including supervised learning, unsupervised learning, and reinforcement learning.
Analytics
Software Features & Capabilities
Data analysis functionality providing insights into usage patterns, performance metrics, trends, and predictions through statistical analysis and machine learning.
AI Capabilities
Software Features & Capabilities
Artificial intelligence and machine learning features including predictive analytics, natural language processing, recommendation engines, automated decision-making, and intelligent automation.
Product Analytics
Software Features & Capabilities
Software analyzing user behavior within products through event tracking, funnel analysis, cohort analysis, retention metrics, and feature adoption.
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Related RFP Templates
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