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Master Data – additional definition (contributor: Scott Taylor ). Reference Data (contributor: George Firican ). Statistics. Self-service (BI or Analytics). Management Information (MI). Optimisation. Robotic Process Automation.
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One of those areas is called predictive analytics, where companies extract information from existing data to determine buying patterns and forecast future trends. By using a combination of data, statistical algorithms, and machine learning techniques, predictive analytics identifies the likelihood of future outcomes based on the past.
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