Predictive Analytics is a subsection of Global Mobility Management (GMM) that uses data, statistical algorithms, and machine learning techniques to forecast future outcomes and trends with a significant level of reliability, paired with what-if scenarios and risk assessments. This has enabled organizations to process big data sets and transition from a historical view to a forward-looking perspective that improves enterprise operations and uncovers new opportunities.
Analysts begin this process by importing and cleaning big data sets with the identification of missing data or removal of potential outliers. After combining various data sources, they develop accurate models based on aggregated data to forecast the information through software programs or devices. By combining multiple predictive analytic methods, enterprises have been able to reduce risks, improve fraud detection, and optimize marketing campaigns.
These methods have allowed organizations—across all industries—to become more proactive in determining their future standings, and better-anticipating trends based on known knowledge and not just assumptions.