What is Predictive analytics Assignment About?
Predictive analytics process includes many statistical techniques from data mining, and machine learning, predictive modelling, which are used to work for analyzing current & historical facts to make predictions about future or for unknown events.
In business scenario, predictive models exploit patterns found in transactional / historical data to identify various risks & many opportunities. Models confine relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions.
Objective of Predictive Analytics Assignments!
- Explain skill & knowledge in applying predictive models in a real-life predictive analytics task
- Brief knowledge of building different types of predictive models using SAS Enterprise Miner
- Compare theoretical knowledge of predictive models and best practices to application scenarios
Predictive analytics is a type of advanced analytics which is used for new and historical data to forecast activity, knowing the behavior & various trends. Predictive analytics involves applying statistical analysis techniques, analytical queries & automated machine learning algorithms to data sets to develop predictive models which are placed into a numerical value or score on the likelihood of a particular event happening.
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