What is Predictive Analytics? Predictive analytics is the branch of the advanced analytics which is used to make predictions about unknown future events. Predictive analytics uses many techniques from data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data to make predictions about future. It uses a number of data mining, predictive modeling and analytical techniques to bring together the management, information technology, and modeling business process to make predictions about future. The patterns found in historical and transactional data can be used to identify risks and opportunities for future. [...]
Predictive modeling is the process of creating, testing and validating a model to best predict the probability of an outcome. A number of modeling methods from machine learning, artificial intelligence, and statistics are available in predictive analytics software solutions for this task. The model is chosen on the basis of testing, validation and evaluation using the detection theory to guess the probability of an outcome in a given set amount of input data. Models can use one or more classifiers in trying to determine the probability of a set of data belonging to another set. The different models available on the Modeling portfolio of predictive [...]
Predictive Model Deployment : Predictive Model Deployment provides the option to deploy the analytical results in to every day decision making process, for automating the decision making process. The predictive models validation and deployment are time consuming activities, which takes months depending on the business scenarios. There are many challenges in deployment, as many organizations lack integrated technical infrastructure to deploy the model between different departments and business units. These challenges in deployment also include data in different data sources, requirement to integrate the model in to different applications.