Final answer:
Business Intelligence (BI) is the approach that uses predictive analytics to analyze business performance. BI leverages statistical algorithms and machine learning to predict future outcomes based on past data, as exemplified by companies like Netflix using viewers' past habits to influence future viewing suggestions.
Step-by-step explanation:
An approach to strategy implementation that uses data to understand and analyze business performance is predictive analytics or Business Intelligence (BI). Predictive analytics is a key component of BI where it harnesses various statistical algorithms and machine learning techniques to identify the likelihood of future outcomes based on historical data. For example, a company like Netflix might use data about its users' past viewing habits to make predictions about their future viewing behavior, helping the company to tailor its offerings and improve user engagement.