Predictive Modelling

Predictive modeling is a statistical technique used to make informed guesses about future events based on historical data. It involves analyzing past information to identify patterns and relationships, which can then be applied to forecast outcomes. For example, businesses might use predictive modeling to anticipate customer preferences, while healthcare providers could use it to predict patient needs. Essentially, it combines data analysis with mathematical algorithms to provide insights, helping organizations make better decisions and improve planning by understanding potential future scenarios.