Predictive analytics is a topic generating great hype and great hope in healthcare and other industries. As this area of data science matures, it is important to remember that predictive analytics is not defined by one technology or technique, although it can be roughly divided into two approaches: pattern recognition and simulation. Pattern recognition is the most common approach, the foundation of much-hyped machine learning and artificial intelligence. Simulation is another, more human alternative to understanding business problems, predicting future trends, and recommending optimum decisions. In this blog, I explain the essentials of simulation and highlight three of its advantages.More