πŸ“˜ Predictive-analytics – Legal FAQs

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❓ What is predictive analytics?

It’s a technique that uses data, algorithms, and machine learning to forecast future outcomes based on past trends.

❓ What industries use it?

Healthcare, finance, e-commerce, logistics, and marketing often use it for forecasting and decision-making.

❓ What tools are available for startups?

Tools like Power BI, Tableau, AWS Forecast, Google AutoML Tables, and Python libraries like scikit-learn are popular.

❓ How does it differ from descriptive analytics?

Descriptive analytics explains what happened, while predictive analytics forecasts what is likely to happen next.

❓ Is data quality important?

Absolutely. Inaccurate or missing data can lead to poor predictions and business decisions.

❓ Do I need a data scientist to get started?

Not always. AutoML tools and no-code platforms let non-technical users build predictive models too.

❓ How are predictions used in real time?

APIs can serve predictions live, such as showing personalized recommendations or detecting fraud instantly.