Take a closer look at how predictive analytics are transforming the business world, particularly the financial sector. From technological advancements to the creation of a new generation of data experts, this white paper focuses on why predictive analytics has such a promising future. 

Data is the world’s most valuable resource. Over two-thirds of executives plan to use Big Data in their business over the next five years. Although it’s ubiquitous and abundant, transforming data into useful insights requires expertise, infrastructure, processing power, and a solid business vision. The most recent advancements in predictive analytics have allowed many businesses to incorporate predictive models as part of their long-term strategy. 

Integrating predictive analytics

Harnessing the power of data to create business opportunities requires a deep understanding of how data works, why it works, and where it is headed. This white paper focuses on its inner workings and why financial companies are now looking for data analysts, data scientists, and data engineers to join their teams. 

To understand where the data industry is going, it is important to grasp the entire process: from collecting requirements and data to the application of predictive models and the actual modeling. Selecting the appropriate technique and technology depends on clear objectives and adequate data organization. Yet, this is only part of a complex science that, above all, requires a clear sense of direction as to what to study out of the data you have. 

Despite many of the working challenges predictive analytics now faces — from improvement in computing power to data quality and bias in machine learning models —, predictive analytics is currently transforming the finance market. Risk analysis reports, price predictions, and stock market projections are just some of the many uses in finance. Yet, the transformative power of data in the financial sector lies not in the technology itself, but also in combining technical capabilities with ethical human judgment. 

Download this report to learn more about the future of predictive analytics in finance.