Which analysis technique uses historical data to model future outcomes?

The technique that uses historical data to model future outcomes is model application. This process involves applying statistical or empirical models that have been developed based on past data to predict and forecast future trends or behaviors. It allows assessors and analysts to utilize insights gained from historical patterns and apply them to current situations or future scenarios.

By leveraging historical data, model application enables the identification of relationships and trends that can inform decision-making and planning. For instance, in the context of property assessments, historical property values along with factors such as location and economic indicators can inform future valuations or market behaviors.

The other techniques mentioned do not focus specifically on forecasting future outcomes based on historical data. Exploratory data analysis primarily involves examining data sets to summarize their main characteristics and discover patterns, rather than modeling future predictions. Data collection is the foundational step for gathering information but does not involve the modeling aspect itself. Yield analysis concerns evaluating the return or efficiency of an investment rather than directly modeling future outcomes.