Predictive Analysis A Term You Need to Know
Predictive analysis is a type of data analysis that uses statistical models and machine learning algorithms to make predictions about future events based on historical data. The goal of predictive analysis is to identify patterns and relationships in the data that can be used to forecast future trends and outcomes.
Predictive analysis can be used in a variety of applications, such as in business to predict customer behavior and sales trends, in finance to predict stock prices and credit risk, and in healthcare to predict patient outcomes and disease progression. Predictive models can be developed using a variety of techniques, including regression analysis, decision trees, random forests, and neural networks.
The accuracy of predictive models is dependent on the quality of the data used to train the model, as well as the choice of algorithms and techniques used for modeling. Predictive analysis is an important tool for decision making and can provide valuable insights for businesses and organizations to make informed decisions and allocate resources more effectively.View More Definitions
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