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Predictive analytics can be applied to a wide range of industries like sports, real estate, insurance, marketing, etc. Regression analysis is based on the idea that what has happened in the past can give us an idea of what can happen in the future. In regression analysis, we make predictions about future outcomes/events by estimating the relationship between two or more variables. In trend analysis, we extract information from data and then analyze the information to identify patterns in that information. Predictive analytics is an area of statistical analysis in which we extract information from data and then analyze it to identify patterns and make predictions about future outcomes/events.īoth trend analysis and regression analysis are a subset of predictive analysis. The term ‘predictive analysis’ is so heavy that we have conferences (like Predictive Analytics World) organized around it all over the world. You must have heard of something called ‘ predictive analytics‘ at some point in your life as a marketer/analyst.

Choosing the Best Trendline for Your Data.

Important Points to Keep in Mind while Analyzing, Interpreting and Reporting Data Trends.

Importance of Accurately Analyzing and Interpreting Data Trends.

Using the R2 Value for Finding a Correlation Between Two Data Sets.

Using CORREL Function for Finding Correlation Between Two Data Sets.

Using Analysis Tool Pack for Finding a Correlation Between Two Data Sets.

Methods to Find a Correlation Between Two Sets of Data.

How to Display R-Squared Value on Your Chart.

Coefficient of Determination or R-Squared Value.Correlation Coefficient and Predictive Power.