as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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explain the concept of predictive analytics.
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predictive analytics is a type of data analytics that uses data mining, machine learning and statistics to analyze current data patterns and make predictions about future events. it is used to identify important trends and make predictions about likely outcomes. predictive analytics can be used to help businesses make informed decisions and better understand their customers, competitors and markets.
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