The technique of prediction is used in many real world situations as it has a common sense of appeal and simple interpretation. The method is useful in both univariate and multivariate problems. Predictive inference is possible for models with independent as well as dependent and correlated responses. Bayesian and other approaches can be adopted for the purpose of predictive inference.
Available methods can handle the conventional normal model and non-normal robust models.
Application of predictive inference includes problems in areas such as tolerance regions, model selection, process control, optimization, perturbation and many others.