Predictive Analytics
Summary: The use of statistical models and machine learning to make predictions about future events based on historical data.
Sources: chapter12
Last updated: 2026-04-18
Predictive analytics is a powerful tool for businesses but presents significant risks in terms of fairness, accuracy, and data ethics (source: chapter12).
Risks
- Bias: If the training data contains historical biases, the model will likely learn and reinforce those biases.
- Opacity: Many machine learning models (like deep neural networks) are “black boxes” that are difficult for humans to understand or audit (source: chapter12).
- Inaccuracies: Predictions are based on historical correlations, which can change over time or be influenced by “noise” in the data.