Prognostic Analytics vs Predictive Analytics
The Private Equity Digital Transformation Show - En podcast af Bruce Sinclair
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It seems like predictive analytics gets all the attention these days but generally speaking, it requires either a Data Scientist or a machine learning algorithm operating on lots of event data, in order to predict the all-important dimension of time, at least to any degree of useful certainty. Enter prognostic analytics. In a closed system of uniform conditions, prognostic analytics can make better predictions about the “when”. In this episode of the IoT Business Show, I speak with Moritz von Plate about how the characteristics of this older-school stats make it very well suited for predictive maintenance in Industrial IoT.
Read the rest of the show analysis notes including the transcripts at: http://bit.ly/IoTPodcast73notes
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