Predictive analytics is a term mainly used in statistical and
analytics techniques. This term is drawn from statistics,
machine learning, database techniques and optimization
techniques. It has roots in classical statistics. It predicts the
future by analyzing current and historical data. The future
events and behavior of variables can be predicted using the
models of predictive analytics. A score is given by mostly
predictive analytics models. A higher score indicates the
higher likelihood of occurrence of an event and a lower score
indicates the lower likelihood of occurrence of the event.
Historical and transactional data patterns are exploited by
these models to find out the solution for many business and
science problems. These models are helpful in identifying the
risk and opportunities for every individual customer,
employee or manager of an organization. With the increase in
attention towards decision support solutions, the predictive
analytics models have dominated in this field. In this paper,
we will present a review of process, techniques and
applications of predictive analytics.
