Predictive analytics is a technology that spans over techniques like data mining, modeling, statistics, artificial intelligence, and machine learning.

Companies take up predictive analytics tools for the following reasons-

With the help of business history, predictive analytics eliminates or prevents recurring risk factors, like insurance claims and collection-based aspects. It also identifies criminal behavior and enhances the overall pattern detection.
Using the Cross-selling, Up-selling and the Next selling techniques, businesses can not only retain customers but also attract new ones.