The Wall Street Journal reports that UPS is using predictive analytics to “gather and consolidate data from various applications within the company’s logistics network to better predict package flow, volume and delivery status, says Juan Perez, chief information and engineering officer.”
According to Webopedia, predictive analytics, is “the practice of extracting information from existing data sets in order to determine patterns and predict future outcomes and trends. Predictive analytics does not tell you what will happen in the future.”
Every business can leverage the power of predictive analytics, artificial intelligence and machine learning to help them make smarter decisions and faster decisions. While you can’t spend billions of dollars to do this for your company, you can rely on companies such as Intuit, NetSuite, Salesforce, SAP and Microsoft who embed these “smarts” into their software products to help make your business smarter.