It is a correct and usable phrase in written English.
You can use it in any context where you are discussing the idea of monitoring or predicting something. For example, "We are focusing on monitoring and prediction to better anticipate and prepare for any potential environmental or economic risks."
Since then millions have been invested in famine monitoring and prediction systems.
The goal of the research, which involves rain gauges, weather stations, research flights, atmospheric profiles, radar and other observations, is to improve monitoring and prediction.
The goal, the scientists involved agree, is to bring real-time monitoring and prediction to development and aid programs.
Monitoring and prediction of rockburst remain to be worldwide challenges in geotechnical engineering.
The NSF was drawn to specific data-intensive applications that the AMP Lab was targeting, including cancer genomics; traffic monitoring and prediction; and opinion gathering through crowd sourcing.
Disastrous impacts of recent drought events around the world have led to extensive efforts in drought monitoring and prediction.
Soil science as many other disciplines obtain the bulk of their empirical information at fine scales, whereas results of environmental diagnostics, monitoring, and predictions are needed to make important policy decisions at much larger scales.
Deposition data were based on calculations for the past, based on emission inventories, deposition modelling and monitoring, and predictions for the future, performed by RIVM at a 5 × 5 km grid (see "Deposition and hydrology scenarios" section).
Our group developed and tested the MONitoring, treAtment and pRediCtion of bipolAr disorder episodes system (the MONARCA system), an Android smartphone-based electronic self-monitoring system, in a number of studies during recent years [ 25– 28].
Monitoring, assessment and prediction of environmental risks that chemicals pose demand rapid and accurate diagnostic assays.
First was to show that the inputs to the HBM could be expanded to include AOD data in addition to data from PM2.5 monitors and predictions from CMAQ.
