23 Dec Prognostic Analytics vs Predictive Analytics in IoT

Episode 73

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”.
Listen to this podcast (or read the transcript) with Moritz von Plate about how the characteristics of this older-school stats make it very well suited for predictive maintenance in Industrial IoT ...