Using historical data to make informed decisions about how things may be in the future is an example of making predictions.1 pointTrueFalse

True.

Using historical data to make informed decisions about future possibilities is a fundamental aspect of predictive analytics and forecasting. This method involves analyzing patterns and trends from past data sets to understand potential future outcomes. By employing various statistical techniques, such as regression analysis or time series forecasting, decision-makers can draw on past experiences and data sets to make better predictions. For example, businesses may look at previous sales data to anticipate future sales trends, while meteorologists utilize historical weather data to predict future weather conditions. Therefore, the statement correctly identifies the use of historical data as a basis for making predictions about the future.