Mike Guilfoyle of ARC has been doing some interesting writing on predictive analytics. One of the terms he uses is the “citizen data scientist.” I like the concept and will explain Mike’s thinking in this article.
But let me provide a little context first. It would be easy for a supply chain executive, or any business manager, to ask what is the difference between “predictive analytics” and “forecasting.” Forecasting is based on traditional mathematical and statistical models; predictive analytics uses machine learning, artificial intelligence (AI), and other advanced analytics to predict/forecast the future.
Author: Steve Banker