Can I say that predictive analytics falls under the broader realm of inferential statistics? or are they different?

13 January 2023 1 3K Report

Is predictive analytics a subset of inferential statistics or is it a different concept?

Predictive analytics falls under the broader realm of inferential statistics, but it is not limited to it. Predictive analytics can involve the use of various statistical and machine learning techniques, including inferential statistics, but it is a broader field that encompasses a range of methods and techniques for making predictions.

Predictive analytics is focused on building models to make predictions about future events, while inferential statistics is focused on making inferences about a population based on sample data.

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