Predictive analytics takes the information made available through descriptive analytics (historical facing) and combines it with more sophisticated statistical modeling, forecasting and optimization techniques to derive insights which help to anticipate the impact on business outcomes. Where are organizations when it comes to leveraging predictive analysis? Research shows that while some organizations may analyze data to predict what might happen in the future in terms of competitor activities, market trends, product/service development, risk management, financial/economic trends and skill requirements, many organizations are still using predictive analytics only to a minor extent, if at all.
It's clear that companies need to move from descriptive analytics (the "what") to predictive analytics (the "now what?"), from "what happened?" to "what's the best that can happen?"
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