What are the Challenges in Using Predictive Analytics?
Despite its benefits, predictive analytics presents several challenges:
1. Data Quality: Poor quality data can lead to inaccurate predictions. 2. Complexity: Developing effective predictive models can be complex and require specialized skills. 3. Cost: Investing in technology and skilled professionals can be expensive. 4. Change Management: Ensuring that the rest of the organization adopts a data-driven culture can be challenging.