Final answer:
Predictive analytics is not typically used for performing a bills of material analysis, which is more aligned with operations management. It is used for establishing credit scores, identifying profitable customers, forecasting safety, and anticipating pricing response.
Step-by-step explanation:
Predictive analytics is used for a variety of applications, but not all options presented are correct. Establishing consumer credit scores, identifying the most profitable customers, forecasting driver safety, and anticipating customer response to price changes are all common uses of predictive analytics. However, performing a bills of material analysis is typically not associated with predictive analytics; it is a function of operations management concerned with the materials and components required to manufacture a product.
Predictive analytics relies on data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data. An example is how Netflix uses predictive analytics by collecting data on users' viewing habits to make recommendations for future viewing, a process which can be similarly applied in other commercial scenarios such as forecasting political behavior or consumer purchasing patterns.