Jamaica Finance

Aug 31 2018

What is predictive modeling? Definition from, predictive modeling techniques.#Predictive #modeling #techniques


predictive modeling

Predictive modeling techniques

  • Share this item with your network:

Predictive modeling is a process that uses data mining and probability to forecast outcomes. Each model is made up of a number of predictors, which are variables that are likely to influence future results. Once data has been collected for relevant predictors, a statistical model is formulated. The model may employ a simple linear equation or it may be a complex neural network, mapped out by sophisticated software. As additional data becomes available, the statistical analysis model is validated or revised.

Predictive modeling techniques

Predictive modeling techniques

Hadoop 2 Upgrades: Ready to Take Advantage?

Hadoop doesn’t lack for attention, but that has yet to translate into high adoption or success rates. Find out if you should leverage Hadoop 2 upgrades here.

By submitting your personal information, you agree that TechTarget and its partners may contact you regarding relevant content, products and special offers.

You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

Predictive modeling is often associated with meteorology and weather forecasting, but it has many applications in business. Bayesian spam filters, for example, use predictive modeling to identify the probability that a given message is spam. In fraud detection, predictive modeling is used to identify outliers in a data set that point toward fraudulent activity. And in customer relationship management (CRM), predictive modeling is used to target messaging to those customers who are most likely to make a purchase. Other applications include capacity planning, change management, disaster recovery, engineering, physical and digital security management and city planning.

Written by admin

Leave a Reply

Your email address will not be published. Required fields are marked *