Real-Time Predictive Analytics

What Does Real-Time Predictive Analytics Mean?

Real-time predictive analytics is the process of extracting useful information from data sets in real time. This is done to determine and predict future outcomes. Real-time predictive analytics does not precisely predict what will happen in the future; instead, it forecasts what might happen on the basis of certain "if" scenarios.

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Techopedia Explains Real-Time Predictive Analytics

Real-time predictive analytics is based on a predictive model which is deployed to run in order to enable decision-making processes in real time. A predictive model is built on the basis of large amounts of data. The predictive model could be built in two ways: by a data scientist or through a streaming operational data analytics platform. The whole process involves rigorous experimentation, historical data and other similar processes. This whole process is iterative by nature. This model is then made to predict run time when a continuous stream of data is fed to it. Therefore, real-time predictive analytics enhances the customer experience and in turn helps businesses to increase earnings.

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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…