Markov analysis

Markov analysis is a mathematical method used to predict future states of a system based solely on its current state, without considering how it arrived there. It relies on transition probabilities, which are the chances of moving from one state to another. For example, in customer service, it might estimate the likelihood of a customer moving from a “satisfied” to an “upset” state based on their current status. This method helps organizations understand and forecast behaviors or patterns over time, especially useful in areas like finance, queuing systems, and operational planning.