Regardless of the business model, forecasting is extremely important for businesses as it creates some insurance for future business outcomes.
In today’s competing global economy, organizations need to see what opportunities and threats are on the horizon to effectively plan for them.
Predictive analytics is crucial to any organization in using data to gain the right insights to make informed, proactive decisions. In doing so, organizations can improve their competitiveness by mitigating potential issues in advance, and setting budgets and business goals accordingly.
Companies in any industry can look towards predictive models to forecast sales, detect risk to the business, and improve overall operations. Using various machine learning algorithms, AI-based forecasting optimizes outcomes for the most suitable result.
Read the full article on Newsweek here