Defining business goals and the datasets to be used is the first step in the Predictive Analytics technique. Next, a statistical model is developed, trained to validate hypotheses, and tested using a subset of data to produce predictions. The use of predictive analytics techniques is not always linear; teams of data scientists, data analysts, data engineers, statisticians, software developers, and business analysts may be called upon to manage and maintain a predictive model after it has been created, deployed, and has begun to yield useful results. Predictive analytics is a crucial decision-making tool that analyses data patterns to spot possibilities and hazards in a wide range of sectors and areas.
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