A branch of advanced analytics, it is used to make predictions about unknown events in the future. It extracts information from existing sources of data to determine patterns and predict future trends and results. It uses different techniques to make such predictions, like artificial intelligence, statistical modelling, machine learning, etc. A reliable method of forecasting, it also focuses on risk management and takes what-if scenarios into account. Moreover, it helps organisations adapt to the needs of the industry and innovate on the go.