The increasing number of startups have surpassed the big players with data driven business models. Data science has become obsolete! The next big thing is predictive analytics.
But there are fears associated with adopting this new technology like the fear of complexity, replacement and failure.
How effective predictive analytics will be depends on how the organization perceives it. When everyone in the business starts thinking about how predictive analytics can improve their organization, it results in big wins for the company.
To move forward with predictive, the business needs to leave data science behind. Predictive analytics is a completely different approach. Applied to business, predictive models are used to analyze current data and historical facts in order to better understand customers, products and partners and to identify potential risks and opportunities for a company. It uses a number of techniques, including data mining, statistical modeling and machine learning to help analysts make future business forecasts.
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