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Predictive analytics and machine learning don't solve problems in the same manner; they take distinct approaches.Because it is a technology that gets smarter with use, machine learning is the face of artificial intelligence. Machine learning can be employed independently and relies on algorithms that are fed data and permitted to process it alone. Without being programmed, ML models form their own hypotheses, test them, and develop on their own.
ML is simply one tool in the predictive analytics toolbox, which also includes data mining and predictive modelling. In order to predict future results, it uses both historical and recent data. For instance, what client behaviours would be likely to appear in various circumstances or even potential changes in the industry.
Source URL: - https://www.simplesolve.com/blog/predictive-analytics-in-insurance