⊿ Point. {R} Glossary. ◢ Keyword: P. ▰ Sources. 〓 Books [B] ◥ University. {q} PhD. ⏫ THEMES. ⏫ Big Data. [B] Big Data. ⚫ USA. ↂ EndNote. ☝️ BD Dummies. Predictive Analytics. Statistical techniques analyzing facts to make predictions about unknown events Predictive analytics is a form of business analytics applying machine learning to generate a predictive model for certain business applications.
As such, it encompasses a variety of statistical techniques from predictive modeling and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events.[1] It represents a major subset of machine learning applications; in some contexts, it is synonymous with machine learning.[2] In business, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities.
Models capture relationships among many factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision-making for candidate transactions.[3] Analytical techniques [edit] Autoregressive Integrated Moving Average (ARIMA) Predictive modeling Regression analysis.