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Social Media Analytics, Predictive Tools, Advanced AI Software Solutions

Nowadays, technology has advanced so fast that many of the new technology gets lost by simpler processes. On the last few years, some tools have been created which are related to predictive analytics. These tools can help users to take advantage of databases and users information to create something amazing.

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But, what is Predictive Analytics?

    Analytics Predictive Tools, Advanced Social Media, AI Software Solutions

    Predictive Analytics is defined as the process of utilizing data analytics with the aim of making predictions based on data. “This process uses data along with analysis, statistics, and machine learning techniques to create a predictive model for forecasting future events.”

    It is used in actuarial science, marketing, financial services, insurance, telecommunications, retail, travel, mobility, healthcare, child protection, pharmaceuticals, capacity planning, social networking, and other fields.

    “Predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions.”

    Usually, this process starts when a business is born. A company can use predictive analytic tools to recompile data. This data is used to save time or cut some cost that may appear when they are trying to reach a bigger audience.

    Some of the benefits of using these tools include:

    – Import data from web archives or databases
    – It helps you to create an accurate predictive model based on real and current data by using statistics, fitting tools, etc.
    – It cleans the data by removing outliers, it also combines data sources so you won’t have repetitive information.

    The predictive analytic tools came from the evolution of artificial intelligence. This science proved that it is possible to use AI to predict or generalize the behavior of customers from their digital footprints in order to target them with personalized promotions or build customer personas automatically.

    In addition, it has transformed industries all over the world, and companies are competing to understand how to incorporate this new technology. AI models can help to reduce the cost of advertising campaigns by adding psychological targeting to more traditional sociodemographic or behavioral targeting.

    Recently, Analytic tools have received a lot of attention due to some advances in supporting technology, mainly in the areas of big data and machine learning. If you want to know more about what Predictive Analytics’ tools are, fill our contact section and we will send you all the extra information that you need.