Which type of analysis uses statistical techniques to forecast future events?

Predictive analysis is the correct choice because it specifically focuses on using statistical techniques and data mining to forecast future events. This type of analysis examines historical data patterns to make informed predictions about upcoming trends or outcomes. By employing algorithms and statistical models, predictive analysis allows organizations to anticipate various scenarios and prepare for them accordingly.

The technique is widely used in various fields, including finance, marketing, healthcare, and supply chain management, where understanding future conditions can significantly impact decision-making processes.

Descriptive analysis, in contrast, is aimed at summarizing and interpreting historical data to understand what has happened in the past. Diagnostic analysis investigates the reasons behind past outcomes but does not predict future events. Prescriptive analysis, on the other hand, goes a step further by not only forecasting future scenarios but also recommending actions to achieve desired outcomes. While all these forms of analysis are valuable, predictive analysis is specifically designed to forecast future occurrences through statistical methods.