Predictive analytics and machine learning: A dynamic duo

Predictive analytics and machine learning working separately or together can be just what a company needs to succeed. But understanding how they work is key to figuring out how they can help businesses thrive. So, what is predictive analytics? Datafloq’s Mark van Rijmenam uses the car metaphor, according to which traditional, descriptive analytics is like looking at the rear-view mirror to see what has happened, while predictive analytics is using a navigation system to tell you what will happen, and prescriptive analytics is a self-driving car that knows how to take you to your destination. This metaphor, while easy to comprehend, may also be deceptively simple. It certainly is open to interpretation, so it’s a good starting point for discussion. Some might say that a navigation system presumably has access…

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