The Predictive analytics, the core part of analytics for most of the Industries like telecommunication, E-commerce sector, product development companies, banking and insurance, and marketing companies to forecast the results, which aims at predicting the future based on the historical data. It extracts information from various datasets in order to discover data patterns, Complex relationship between features, forecasting actual trends and finding associations. Predictive Analytics needs a strong knowledge of statistical Modelling and machine learning and deep learning techniques. There’s need of descriptive and diagnostic analytics, before applying predictive analytics so as to get better predictive results.
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| Unpredictable work V/S Predictable work |
Predictive analytics for business development includes customer segmentation, risk assessment, churn prevention, Sales Forecasting, Financial Modeling, Market analysis.
The smartphone users are growing gradually from around 2.3-2.5 billion in the 2018-19 year itself. Large population invests their time, unknowingly, in engaging with internet-enabled Smartphones, smart devices, and socializing applications. Mostly by reading, listening, chatting, searching, watching, and gaming.
Traditionally, the daily human habits include 60 % of hard work and 40% in a dreaming state or sleepy state. Humans didn’t get time to focus on their mental and physical strength, hobbies, innovations, creativity, and productivity. But, the use of several artificial intelligence, machine learning, and IoT integrated Technologies like Vitria, Spotify-Alexa device, WeMo Home Automation, Hexoskin, Sensoriafitness, Netflix
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Vitria – Market leading Advanced Analytics Platform for IoT (Internet of Things) used in several businesses to empower customers and achieve better business outcomes faster through streaming analytics and intelligent actions.
- Spotify-Alexa device – With the help of Spotify app one can introduce songs, media and podcasts to Alexa to play and make the list, unlike the complex algorithmic list that Pandora app has.
- WeMo Home Automation – devices that allow monitoring and control of home appliances from anywhere in the world and predicts the risk before it occurs in order to mitigate the risk.
- Hexoskin – Provides a biometric shirt that can monitors a users health data and predicts about the health issues may occur so that the person can search for a doctor to get some health precautions.
- Sensoriafitness – Provides smart running shoes ( sensor infused shoes) which track the running and sports performance, also provides training plans and coachings to get better performance.
- Netflix – Uses analytics for personalizing the Netflix homepage so that the consumer will quickly play the movies that were recommended to them based on his/her earlier made choices, likings and tracking their behavior.
Such technologies have impacted largely on human life and changed their choices and interests about Watching videos, Clothing sense, Behavioral, Health care, Conversational habits (chatbots), Listening habits (songs), News recommendations, Socializing habits, Online search habits, Product purchase habits, Money investing habits etc.
The daily routine work got accelerated and human’s choices are getting fulfilled in a swift manner, by the use of predictive data analytics in various forms. And thus it encourages people to invest more time in physical and mental fitness. Because the use of AI/ML technologies in everyday life made people liberate from painful toil by replacing it with new Predictive devices and applications, which gives effective results with no time, energy and cost overhead.
The best change we can see is, people are getting excited to know more about the importance of predictive analytics. Like rather than wasting time doing the manual predictions, and also which are not very accurate than the AI predictive models do, so why can’t use automated predictive analytics enabled devices? Thus, in that spare time, one can focus on productive work, analyze the self-potential abilities and capabilities. Also can learn about improving personal effectiveness by controlling thoughts and emotion to become stress-free and be peaceful.
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| Predictive Analytics Steps |
Many applications are available based on predictive analytics which changed human behavior on daily basis.
Who doesn’t like to know about risks and failures of future sales in business, money investments in banking and insurance, electronic devices risk, health regarding risks, career risks, and many more? By knowing the risks we can quickly lower it or avoid it by suggestions and recommendations given by experts.
Predicting things changed the life’s perspective and made humans to put energy and time more towards generating ideas or making new innovations from different fields, also to be more social and focusing on the hobbies and leisure activities.
Applying real-time predictive analytics in day-to-day life in the workspace and in home life has the ability to control human emotions, energy and time. It makes the daily tasks cheaper and provides the best business insights. Predictive analytic’s results assure the people to make accurate and optimized decisions about overall business development and expansion, rather than getting confused in critical situations. Humans can now see every situation in a confident way and can have relevant and effective solutions using predictive analytics techniques integrated with data-driven decision systems.
Applying real-time predictive analytics in day-to-day life in the workspace and in home life has the ability to control human emotions, energy and time. It makes the daily tasks cheaper and provides the best business insights. Predictive analytic’s results assure the people to make accurate and optimized decisions about overall business development and expansion, rather than getting confused in critical situations. Humans can now see every situation in a confident way and can have relevant and effective solutions using predictive analytics techniques integrated with data-driven decision systems.
