What are the Applications of Predictive Analysis in Different Industries?
Predictive analysis is applied across various industries:
1. Retail: Retailers use predictive analysis for demand forecasting, inventory management, and personalized marketing. 2. Finance: Financial institutions leverage it for credit scoring, fraud detection, and risk management. 3. Healthcare: It helps in predicting patient outcomes, optimizing treatment plans, and managing resources. 4. Manufacturing: Predictive maintenance and quality control are key applications in this sector. 5. Marketing: Marketers use predictive models to understand customer behavior and improve campaign effectiveness.