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What is data analytics? Analyzing and managing data for decisions

CIO Business Intelligence

More specifically: Descriptive analytics uses historical and current data from multiple sources to describe the present state, or a specified historical state, by identifying trends and patterns. Predictive analytics is often considered a type of “advanced analytics,” and frequently depends on machine learning and/or deep learning.

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Seven Steps to Success for Predictive Analytics in Financial Services

Birst BI

The output of these algorithms, when used in financial services, can be anything from a customer behavior score to a prediction of future trading trends, to flagging a fraudulent insurance claim. The credit scores generated by the predictive model are then used to approve or deny credit cards or loans to customers.