As the businesses gets smarter, competitive, preparing for future not just an advantage but a survival necessity. Analysis of the past data in predicting the future or get an insight requires careful study and application variety of statistical and mathematical techniques from data mining, modelling, game theory and machine learning and other analytical techniques over the past and current data.
With the advancement in the hardware capabilities and development of interesting algorithms, processing of already available historical data to make meaningful insight leads business to identify various risks and opportunities. Use of different model, after thoroughly evaluating adaptability, forms the relationships among different criteria and conditional factors in guiding the decision making.
Predictive analytics are used in every business domain including health care and health insurance.In healthcare and health insurance fields there are several areas where predictive analytics that come in handy to maximize the business or optimizing the resources.