What kind of technology is utilized for predictive analytics? 🔊
Technologies utilized for predictive analytics include machine learning algorithms, statistical methods, and big data processing tools. By applying these technologies, organizations can analyze historical data patterns and forecast future trends. Predictive analytics often employs techniques such as regression analysis, decision trees, and neural networks to generate insights that inform decision-making. Popular platforms for implementing predictive analytics include Python, R, and cloud-based solutions like AWS and Azure, enabling businesses to leverage big data for strategic planning.
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