Predictive Analytics Techniques for Forecasting Financial Trends and Optimizing Business Processes

Josephine Nwadinma Okonkwo and Onwuzurike Augustine
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Josephine Nwadinma Okonkwo: Dozie & Dozie’s Pharmaceutical Nig. Ltd
Onwuzurike Augustine: Dozie & Dozie’s Pharmaceutical Nig. Ltd

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 11, 2763-2775

Abstract: Analytics are important in today’s business environment because they provide insight into potential financial outcomes and methods to streamline procedures. This paper compares and contrasts the various models used in predictive analytics, including machine learning, regression, and time series. It also assesses the application of linked models in financial prediction and explains how it affects business processes. Time series analysis makes it possible to spot trends and cycles in the variable being studied, while regression offers methods for estimating the future patterns of the variables in a model. The more advanced machine learning models, like decision trees, neural networks, and support vector machines, offer an insightful capacity to evaluate big and complex datasets, capture the intricate and subtle relationships in the data, and improve the predictive power. Thus, these techniques are presented to show how they add useful market data that helps improve overall performance and comprehension of the market, client needs, and operations.

Date: 2024
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