Predictive analysis introduces processes that use historical data, statistical algorithms, and machine learning techniques to predict future outcomes. It uses statistical modelling, and machine learning techniques and analyses large datasets to identify functional relationships for making predictions.
Coforge uses Predictive analysis to forecast business-based scenarios for different Customers and as an effective tool for fraud detection and risk profiling.
Key components include:
- Data quality and management: Coforge ensures high-quality accurate and consistent data through data management processes and data governance frameworks.
- Scalability: Coforge has the right infrastructure and technology to handle large volumes of data required for analysis.
- Ethical considerations: Coforge ensures predictive analysis solutions adhere to ethical standards and comply with relevant regulations.