AI Predictive Analytics: Benefits, Examples & More

While we can’t accurately predict the future just yet, artificial intelligence (AI) predictive analytics can get us pretty close. Its power lies in the ability to quickly sift through vast amounts of data to reveal meaningful patterns, trends, and anomalies. 

But predictive AI isn’t only applicable to the tech space. 

Whether pinpointing the best time for heavy machinery maintenance or building customized learning paths, AI predictive analytics has incredible applications for nearly every industry. Here’s how it works and what makes it such a powerful tool for everything from logistics to finance. 

What is AI predictive analytics?

Predictive analytics uses data, mathematical models, and statistical methods to forecast the likelihood of future outcomes by examining past data. These statistical methods often involve AI, deep learning, and machine learning. To accomplish this, predictive analytics relies on data science to analyze and extract insights from large quantities of historical data from a variety of sources such as databases, videos, images, logs, and more. 

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In summary, AI predictive analytics is not just a powerful tool; it’s a game changer. By harnessing the capabilities of AI, businesses can gain deeper insights into their data, anticipate future trends, and make informed decisions that drive growth and innovation. As industries continue to evolve, embracing AI predictive analytics will be essential for staying competitive and meeting the ever-changing needs of customers. Organizations that invest in this technology today will position themselves for success in an increasingly data-driven future. Find out how Domo can fit into your analytics strategy.