Predictive Analytics
Last updated June 12, 2024
Predictive Analytics helps in making forecasts or predictions about future outcomes based on historical data and analytics techniques. Leveraging machine learning models and statistical algorithms, it provides actionable insights for strategic decision-making.
Steps to Perform Predictive Analytics
- Define the Problem and Objective
- Collect Relevant Data
- Clean and Preprocess the Data
- Analyze the Data with Statistical Methods
- Select and Train Prediction Models
- Validate and Test the Models
- Implement and Monitor Predictions
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