Question

Is Inferential statistical techniques and predictive statistical techniques identical

Answer 1

No  Inferential statistical techniques and predictive statistical techniques are not identical.

We can understand the differences by following ways:

(i) An inference is usually made about something with a degree of certainty, based on facts like statistics, calculations, observations or generalizations while To predict means to say that something might or definitely will happen in the future.

(ii) An inferential aims to test theories about the nature of the world in general based on samples of subjects taken from the world . That is, use a relatively small sample of data to say something about a bigger population while the prediction  uses various types of methods that analyze current and historical facts to make predictions about future events. In essence, to use the data on some objects to predict values for another object.

(iii)Inference is commonly the goal of statistical models while in prediction the models predicted, but it does not mean that the independent variables cause.

(iv) Inference depends heavily on both the population and the sampling scheme while  prediction is very hard, especially about the future references.

(v) Inference involves estimating both the quantity you care about and your uncertainty about your estimate but in prediction although there are better and worse prediction models, more data and a simple model works really well.