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How Retail & Government Sectors Are Using Predictive Analytics In Data Science?
The influence of Data Science, Artificial Intelligence, Machine Learning & Deep Learning technologies is increasing at an exponential rate in the industries across every major sector. Enterprises these days are relying heavily on advanced analytics models to make accurate interpretations out of their existing Big Data reserves. Predictive Analytics is one of the advanced analytics techniques involving Data Science that has now become an integral part of enterprises business intelligence strategies.
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Now, in this post, let’s look at how Retail & Government sectors are using Predictive Analytics.
- Predictive Analytics In Governments & Public Sector
The extensive use of analytics technologies involving Data Science, AI & Machine Learning can be seen in the Government sector. Government officials are nowadays relying on data analytics models to better understand the population trends for decades. The use of Predictive Analytics In Government Sector is helping the authorities in improving their service and performance; accurate detection & prevention of threats; and to understand to changing trends in the consumer behavior.
- Predictive Analytics In Retail Industry
Enterprises in the retail industry are using Predictive Analytics for merchandise planning and price optimization, strategies their marketing campaigns, determine which offers are most appropriate for consumers. Retail enterprises are boosting their revenue margins by using Predictive Analytics. It also helps the enterprises in better serving their customers by making them understand the changes in their customer interests & their varying needs.
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Kumar Raja is a multidisciplinary writer, and lifelong learner. He’s a Digital Marketer in the making who spends his time analyzing the developments in the tech world. He’s very passionate about helping people understand the latest trends in the tech world through his well-researched articles. He’s able to condense complicated information about the latest technologies into easily digestible articles.