From www.accountingtoday.com: Predictive analytics is revolutionising accounting by shifting the focus from historical record-keeping to forward-looking financial insights, enhancing forecasting, auditing, risk management, and strategic decision-making.

It enables accountants to use complex statistical models for better planning and to transform auditing processes by examining all financial data instead of relying on sampling methods.

Successful implementation requires ensuring data quality, addressing ethical considerations, and equipping accountants with the necessary skills for ongoing professional development.