Creating predictive models means harnessing the power of data to forecast outcomes and inform decision-making. Predictive models are used in a variety of ways, from predicting customer buying habits to forecasting future market needs. By taking into account the variables that may affect an outcome – such as previous customer behaviour or market trends – predictive models help organisations make more informed decisions. Predictive modelling is not a one-size-fits-all solution, however; it requires careful planning, gathering the right data, testing assumptions and adjusting parameters to create accurate forecasts and maximize returns.