Predictive Technology

What Does Predictive Technology Mean?

Predictive technology refers to a set of tools used for forecasting patterns in data while keeping in perspective the previous records/data. Predictive technology has been hugely implemented in marketing and business for forecasting demand and supply patterns. Initially the tools were introduced to study weather, the stock exchange, human behavior and socioeconomic activities. The tools used are data mining, neural networks and system modeling and simulation.

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Techopedia Explains Predictive Technology

Predictive technology has been used for many decades by meteorologists chiefly for weather and climatic forecasting and prediction. With time, this concept came to be used to study customer behavior and forecast supply and demand in economic statistics. Data from previous studies is used to predict the patterns likely to occur in the future. Many business strategies are developed from this method, which in turn helps in business expansion and growth. A number of modern technologies and methods have been introduced to make the prediction more accurate for business, computing and weather forecasting. Data is analyzed and modeled into a system which is then further processed.

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Margaret Rouse

Margaret Rouse is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical, business audience. Over the past twenty years her explanations have appeared on TechTarget websites and she's been cited as an authority in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine and Discovery Magazine.Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages. If you have a suggestion for a new definition or how to improve a technical explanation, please email Margaret or contact her…