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What is the Google Prediction API?
The Prediction API enables access to Google's machine learning algorithms to analyze your historic data and predict likely future outcomes. Upload your data to Google Storage for Developers, then use the Prediction API to make real-time decisions in your applications. The Prediction API implements supervised learning algorithms as a RESTful web service to let you leverage patterns in your data, providing more relevant information to your users. Run your predictions on Google's infrastructure and scale effortlessly as your data grows in size and complexity.
Google Prediction API Getting Started Guide
See also Google Prediction API: The web gets smart, By Garett Rogers, ZDNet