Extract valuable insights from available data to make your enterprise evolve. Through systematic learning of present data, Predictive Analytics solutions help you forecast what might happen in the future, automatically classify the objects and predict some business outcomes. Predictive analytics uses multiple techniques such as data mining, statistics, machine learning, and artificial intelligence to predict the possibility of something happening based on historical data. Predictive forecasting may seem mysterious, but the logic is actually quite easy to understand.
Accuracy – Predictive Analytics use data to discover an optimal decision-making engine for your problem. As you collect more data, the accuracy increases automatically.
Automation – As new data comes in, the output interest can be automatically estimated. This allows users to embed Predictive Analytics directly into an automated workflow.
Velocity – Predictive Analytics can generate answers in a matter of milliseconds as new data streams in, allowing the systems to react in real-time.
Scalability – As your business grows, Predictive Analytics easily scales to handle the increased data rates. Most Analytics processes run in parallel and enable good scalability.
To use predictive forecasting in SAP Analytics Cloud, upload a dataset and make sure there’s historical data so the system can use this to look for trends. Once you create a chart, you can apply predictive forecasting. SAP Analytics Cloud predictive forecasting helps you understand past data trends to predict any metric in the future. The predictive algorithm classifies existing information, identifies outliers, and surfaces relationships within your data to help you see and understand your business’ key influencers.