Learn predictive analytics with online courses and programs
What is predictive analytics?
Predictive analytics is a branch of statistics and data analysis that uses data modeling and artificial intelligence to predict the future outcomes of decisions, events, and trends. By identifying trends and patterns in data and understanding data relationships, data analysts can build models to forecast the effects of different strategies, help solve business problems, and aid in decision-making.
Predictive analytics can be applied in industries ranging from financial services to healthcare, to retail. Read on to learn more about careers in predictive analytics and predictive analytics courses that can help learners grow their knowledge of the field.
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Why learn predictive analytics
Using predictive modeling and analytics can help organizations optimize marketing campaigns, manage resources, reduce risk, and streamline operations. Because of its wide-reaching business benefits, predictive analytics can be applied to data analysis, statistics, science, business management, and other fields. Regardless of industry, the ability to mine data and develop accurate forecasting models are key skills needed by predictive analytics professionals.
Taking online predictive analytics courses offers learners the flexibility to deepen their knowledge of predictive analytics techniques and concepts — such as neural networks, logistic regression, linear regression, and decision trees — while completing the coursework at a convenient pace.
Predictive analytics course curriculum
Programs in marketing analytics, big data, machine learning, and data science may include predictive analytics training in their coursework. Individuals who prefer a more formal and structured education may find that bachelor’s degrees in computer and data science and master’s programs in data science help to lay the foundation for learning predictive analytics. Alternatively, an analytics boot camp can provide helpful instruction in a shorter timeframe than a traditional degree program. Regardless of your experience or professional goals, knowledge of computer programming and math can be helpful for those interested in a predictive analytics career.
Introductory predictive analytics courses can cover statistics and data analysis, including data collection, data visualization, and using data to create models to predict future trends. Some predictive analytics tutorials teach learners how to create predictive analytics solutions using specific platforms, such as Apache Spark, while specialized courses may teach how to apply predictive analytics within a particular field, including clinical and public health, marketing, or business.
Jobs in predictive analytics
Predictive modeling and analytics are key functions of many data science and data analysis positions. Job titles for professionals who use predictive analytics techniques include data scientists, data analysts, predictive analytics managers and consultants, market research analysts, financial analysts, and operations research analysts.
Below are some examples of positions that involve predictive analytics, as well as their job duties.
Data scientist duties include:Footnote 1
Developing and implementing techniques to transform raw data sets into meaningful information.
Using data-oriented programming languages and data visualization software.
Applying data mining, data modeling, language processing, and artificial intelligence to extract, organize, and analyze data from large data sets.
Creating dynamic data reports.
Market research analyst responsibilities include:Footnote 2
Forecasting marketing and sales trends.
Measuring the effectiveness of marketing campaigns and strategies.
Collecting and analyzing data on customers and competition.
Creating reports and presenting findings to managers and clients.
Operations research analyst job duties include:Footnote 3
Identifying business problems in an organization or industry.
Collecting and analyzing data relevant to identified problems.
Developing and testing models to solve those business problems.
Writing reports that explain their findings and recommendations for managers and executives to optimize business and inform decision-making.
Online bachelor’s degrees, professional certificates, and online master’s degrees in areas like a master’s in data science or business analytics may help prepare future data scientists and analysts for careers using predictive analytics.
Why pursue a career in predictive analytics?
Pursuing a career in predictive analytics opens up possibilities for professionals to apply their skills to have an impact in a wide range of fields — from finance to healthcare, to sales and beyond. Data scientists and analysts can apply predictive analytics techniques across a range of industries to help estimate the effects of different scenarios and future trends. Predictive analytics could be used to estimate future cash flow, understand staffing needs, predict consumer behavior, or detect allergies, among many other uses.Footnote 4