Question

Part 2: What is the difference between historical analytics or predictive analytics in detail and provide some example?

Answer 1

`Hey,

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Historical analysis is often known as Data analytics in which data sets are analysed

Today huge data is collected across organizations. This data could be related to customers, business partners, applications users, visitors, internal employees and external stakeholders etc. This data is churned and categorized to find and analyze patterns. historical analytics refers to various tools and techniques involving qualitative and quantitative methods and processes, which utilizes this collected data and generates an outcome which is used to enhance efficiency, productivity, reduce risk and increase business gain. historical analytics techniques vary from organization to organizational according to their requirements.

Predictive Analytics as a subset of Historical/data analytics is a specialized decision-making tool which uses advanced technological assets and progressive statistical based algorithms and models to generate future predictions so that business can focus and spend their money and energies towards more positive and expected outcomes.

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