Prognostic Analytics vs Predictive Analytics

The IoT Business Show is brought to you by the Iot-Inc Certified IoT Professional (ICIP) online training & certification program: http://www.iot-inc.com/training

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

Consider taking 60 seconds to leave an honest review and rating for the podcast on iTunes. They are extremely helpful when it comes to ranking the show and you can be sure I read every one.

And lastly, don't forget to subscribe to the podcast to get automatic updates every time a new episode goes live.