In the worlds of business and technology, pundits are keen to sing the praises of AI technology and its benefits, often without going into much detail on the actual applications of AI. Rather, AI is often used as a catch-all term to describe a wide range of functions encompassing machine learning, automation, analytics, and more.
Oftentimes, when discussing the successful application of artificial intelligence in business contexts, the actual task being discussed is so-called predictive analytics. In a nutshell, predictive analytics describes AI-powered solutions that analyze existing data to accurately predict future outcomes. Read on to find out everything you need to know about predictive analytics and what it can mean for your business.