Predictive modeling is a method used by firms and organisation in predicting future outcomes through the use of data modeling. Target has used predictive modeling to identify 25 products that, when bought together or over time, predict a woman’s likelihood of being pregnant as well as her child’s expected due date.
- Predictive modeling is known to be one of the old ways a business can see its future (path forward) and make appropriate plans.
This modeling has high accuracy and also commonly use. It uses mathematical and computational methods to predict an event or outcome.
Conclusively, Predictive modeling can see the forward paths of firms through the use of mathematical and computational means of predicting events.
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