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More specifically: Descriptive analytics uses historical and current data from multiple sources to describe the present state, or a specified historical state, by identifying trends and patterns. Predictive analytics is often considered a type of “advanced analytics,” and frequently depends on machine learning and/or deep learning.
The output of these algorithms, when used in financial services, can be anything from a customer behavior score to a prediction of future trading trends, to flagging a fraudulent insurance claim. Automate the data processing sequence. Predictive analytics can become the elusive crystal ball that companies are seeking.
Artificial intelligence (AI)-enabled systems are driving a new era of business transformation, revolutionizing industries through prescriptiveanalytics, personalized customer experiences and process automation. In regulated industries like finance, healthcare and insurance, XAI supports auditability, compliance and ethical AI.
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