The goal of data analytics in general is to uncover actionable insights that result in positive business outcomes. In the case of predictive analytics, the aim is to do this by determining the most likely future outcome of a target, based on previous trends and patterns.

The benefits of predictive analytics are not restricted to big technology companies. Any business can find ways to benefit from machine learning, given the right data.

Companies all around the world are collecting massive amounts of data and using predictive analytics to cut costs and increase profits. Some of the most prevalent examples of this are from the technology giants Google, Facebook, and Amazon, who utilize big data on a huge scale. For example, Google and Facebook serve you personalized ads based on predictive algorithms that guess what you are most likely to click on. Similarly, Amazon recommends personalized products that you are most likely to buy, given...